Aug 22 (Reuters) - Sierra Oncology Inc SRRA.O :
* SIERRA ONCOLOGY ACQUIRES MOMELOTINIB, AN INVESTIGATIONAL JANUS KINASE (JAK) 1/2 AND ACTIVIN RECEPTOR TYPE 1 (ACVR1) INHIBITOR FOR MYELOFIBROSIS, FROM GILEAD SCIENCES
* SIERRA ONCOLOGY INC - WILL PAY GILEAD A $3 MILLION UPFRONT FEE FOR MOMELOTINIB AND POTENTIAL AGGREGATE MILESTONE PAYMENTS OF UP TO $195 MILLION
* SIERRA ONCOLOGY INC - SIERRA WILL ASSUME ALL CURRENTLY ONGOING CLINICAL STUDIES WITH MOMELOTINIB FOLLOWING A TRANSITION PERIOD.
* SIERRA - TO ALSO PAY GILEAD ROYALTIES ON ANY SALES OF MOMELOTINIB, WHICH WILL BE TIERED BASED ON COMMERCIAL SUCCESS & RANGE FROM MID-TEENS TO HIGH-TWENTIES