Gilead Sciences Inc. has agreed to spend up to $1.7 billion to acquire rights to a package of preclinical assets directed against inflammatory diseases from LEO Pharma A/S of Denmark. Founded in 1908 and majority owned by a foundation, LEO has a global commercial presence in dermatology. The collaboration with Gilead will give the company financial support to further develop a small molecule programme for the treatment of multiple inflammatory diseases including atopic dermatitis, asthma and chronic obstructive pulmonary disease.
