Vertex Pharmaceuticals’ acquisition of Crinetics Pharmaceuticals values the company at about $10 billion. Crinetics’s Palsonify could become a new standard of care therapy for acromegaly and the biotech also brings other drugs in various stages of development for endocrine disorders, a new therapeutic area for Vertex.
Servier completed its acquisition of Day One Biopharmaceuticals and its buyout of Edgewise Therapeutics’ neuromuscular business is expected to close later this year. At the BIO International Convention, Servier’s top business development executive explained the rationale for these deals and how they fit the company’s overall strategy.
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Ipsen is acquiring Kartos Therapeutics to get navtemadlin, which has reached Phase 3 testing in the blood cancer myelofibrosis. The Kartos oral small molecule takes a novel approach to restoring the function of p53, a tumor-suppressing protein.
GSK’s Nuvalent acquisition brings two lead programs, each addressing different targets for non-small cell lung cancer. The Nuvalent lung cancer drugs are under FDA review and if they’re approved, GSK plans to launch both this year.
Incyte’s Vega Therapeutics acquisition comes with a late-stage drug offering a novel mechanism of action and a dosing advantage compared to currently available therapies for von Willebrand disease, an inherited bleeding disorder. The deal comes as patent expiration looms for Jakafi, currently Incyte’s top product.
France-based pharma company Servier is acquiring the muscular dystrophy business of Edgewise Therapeutics as part of a revenue growth strategy in oncology and neurology. The deal brings an Edgewise drug in clinical development for two rare neuromuscular disorders with limited treatment options.
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Eli Lilly is spending up to $3.8 billion to buy vaccines in development for shingles, staph infections, and Epstein-Barr virus as well as the platform technologies that spawned these programs. The pharmaceutical giant indicated interest in infectious disease last year when it hired Peter Marks, former director of the FDA division that oversees vaccines.
London-based GHO Capital and Singapore-based CBC Group plan to merge in a deal that would create what the firms describe as the “world’s largest dedicated healthcare investment firm.” GHO has $10.5 billion assets under management, and CBC has $10.8 billion in assets under management.
Engage Bio developed a platform technology that enables non-viral delivery of DNA to cells. The acquisition is the latest in a series of Eli Lilly deals that expand the pharmaceutical company’s pipeline and capabilities in genetic medicines.
Sanford Health signed a deal to acquire North Memorial Health, which could be its long-sought entry into the Twin Cities market. The move is the latest in a series of expansion efforts for the South Dakota-based health system.
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Angelini Pharma’s acquisition of Catalyst Pharmaceuticals is part of a transformation strategy focused on neurological medicines. Catalyst’s top product is Firdapse, the first FDA-approved drug for a particular rare neuromuscular disorder.
Perfuse Therapeutics brings Bayer an eye drug administered via an implant that controls the release of the therapy. This program is in mid-stage clinical development for glaucoma and diabetic retinopathy.
Candid Therapeutics brings to UCB two clinical-stage T cell engagers in development for autoimmune disorders. To accept UCB’s offer, Candid terminated its reverse merger with Rallybio.
KalVista Pharmaceuticals brings to Chiesi Group the product Ekterly, the first FDA-approved oral drug for acute treatment of swelling attacks from the rare disease hereditary angioedema. Ekterly’s tablet formulation offers a dosing edge compared to injectable HAE medications.
Obsidian Therapeutics aims to show its TIL cell therapy has advantages over an Iovance Biotherapeutics TIL therapy marketed for treating melanoma. Obsidian’s merger with Galera Therapeutics will give it a public listing and a private placement to support clinical development of the combined company’s cancer drug pipeline.