We are advising Gilead Sciences on the acquisition

Davis Polk is advising Gilead Sciences, Inc. on its $4.3 billion acquisition of CymaBay Therapeutics, Inc. The transaction was approved by both the Gilead and CymaBay boards of directors and is expected to close during the first quarter of 2024, subject to regulatory approvals and other customary closing conditions.

Gilead Sciences is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19 and cancer.

CymaBay Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of people with liver and other chronic diseases that have high unmet medical need. Its deep understanding of the underlying mechanisms of liver inflammation and fibrosis, and the unique targets that play a role in their progression, have helped it receive breakthrough therapy designation (FDA), PRIME status (EMA) and orphan drug status (United States and Europe) for seladelpar, a first-in-class investigational treatment for people with primary biliary cholangitis (PBC).

The Davis Polk corporate team includes partners Paul S. Scrivano and Cheryl Chan and associates Dmitriy Molchanov, Joseph G. Marano and Rong (Fiona) Huang. Partner Kyoko Takahashi Lin and associate Justin Alexander Kasprisin are providing executive compensation advice. Partner David R. Bauer and associate Francesca Masella are providing intellectual property advice. Partner Michael Mollerus is providing tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.