Gilead Sciences is investing $25 million into Corus Pharma, a private biotech company that's been developing candidates for respiratory and infectious diseases. In the deal, Gilead will become Corus' second-largest investor and will have an option to acquire the remaining shares in the company for a pre-set price. Corus' lead candidate is an inhaled antibiotic. Chiron has sued Corus over the antibiotic, claiming the misappropriation of trade secrets.
- read the AP report on the deal