Sobi and CTI BioPharma Complete $1.7 Billion Acquisition Deal
Sobi has officially acquired CTI, a biopharma company focused on blood related cancers and rare diseases, in a merger valued at approximately $1.7 billion.
Swedish Orphan Biovitrum (SOBI), a biopharmaceutical company focused on rare diseases, announced the completion merger and acquisition agreement with CTI BioPharma, a biopharmaceutical company focused on blood related cancers and rare diseases, on June 26, 2023. As a result of the deal, valued at approximately $1.7 billion, CIT has become an indirect wholly owned subsidiary of SOBI.
“CTI represents a perfect fit for Sobi’s haematology franchise today, adding a powerful and highly differentiated new product that will make a significant difference for patients”, said Guido Oelkers, president and CEO, Sobi, in a company press release. “There is a large unmet medical need within myelofibrosis, in particular for patients suffering from thrombocytopenia who are inadequately treated by existing medicines. The combination of the talented team at CTI, together with Sobi’s broad US and global haematology capabilities, will help get this much needed new therapy to patients faster and more effectively. The acquisition of CTI is the latest in a series of transformative transactions Sobi has conducted to build its leading rare haematology franchise.”
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