Sierra Oncology acquires momelotinib from Gilead

Sierra Oncology Inc. (NASDAQ:SRRA) acquired momelotinib (formerly CYT387) from Gilead Sciences Inc. (NASDAQ:GILD) for $3 million up front and up to $195 million in milestones. Gilead is also eligible for tiered royalties ranging from mid-teens to high-twenties.

Momelotinib has undergone Phase III testing to treat myelofibrosis and for previously untreated metastatic pancreatic cancer. Sierra plans to develop the product to treat myelofibrosis and said it believes it will need to conduct an additional trial to consolidate its data. The candidate is a Janus kinase-1 (JAK-1) and JAK-2 inhibitor...