OR WAIT null SECS
Through a €2.7 billion (US$2.9 billion) acquisition of MorphoSys, Novartis will get pelabresib, a late-stage drug candidate in development for cancer treatment.
On Feb. 5, 2024, Novartis announced that it intends to acquire MorphoSys, a Germany-based biopharmaceutical company focused on oncology therapeutics, for €68 per share, or €2.7 billion (US$2.9 billion) in aggregate, in an all-cash transaction. The acquisition, which was unanimously approved by the boards of both Novartis and MorphoSys, is expected to close in the first half of 2024, subject to customary closing conditions. Until closing, MorphoSys will continue to operate as a separate, independent company.
With the acquisition, Novartis gains pelabresib (CPI-0610), a late-stage investigational small-molecule bromodomain and extra-terminal domain (BET) inhibitor for treating myelofibrosis (MF). Pelabresib is being evaluated in combination with ruxolitinib as a potential first-line treatment for MF. The combination recently met its primary endpoint of spleen volume reduction in a Phase III clinical trial (MANIFEST-2) in Janus kinase inhibitor-naive MF patients. A regulatory filing is planned with FDA for the second half of 2024.
Novartis also gains tulmimetostat (CPI-0209), an early-stage investigational dual inhibitor of enhancer of zeste homolog 1 and 2 (EZH1 and EZH2) proteins currently being tested in patients with solid tumors or lymphomas.
“We are excited about the opportunity of bringing pelabresib, a potential next-generation treatment combined with ruxolitinib, to people living with myelofibrosis, a rare and debilitating form of blood cancer,” said Shreeram Aradhye, president, Development, and chief medical officer, Novartis, in a company press release. “With the planned acquisition of MorphoSys, we aim to further strengthen our … pipeline and portfolio in oncology, adding to our capabilities and expertise. Building on our long-standing development partnership with MorphoSys, we look forward to continuing our work together to realize the full impact and value of their investigational medicines for patients with unmet needs.”