U.S. biotech pharmaceutical firm Celgene Corp said on Sunday that it had agreed to acquire Impact Biomedicines for as much as $7 billion, subject to certain milestones associated with regulatory hurdles and sales performance.
Celgene is interested in Impact Biomedicines’ fedratinib, a kinase inhibitor that has shown promise as a potential treatment for a type of blood cancer called myelofibrosis, according to a statement put out jointly by both companies.
“Myelofibrosis is a disease with high unmet medical need as the number of patients who are ineligible for or become resistant to existing therapy continues to increase,” said Nadim Ahmed, Celgene’s president of hematology and oncology.
“(Fedratinib) provides strategic options for us to build leadership in this disease.”
The deal is structured in three parts, with Celgene paying $1.1 billion in cash upfront for the San Diego-based company.
Celgene will pay an additional $1.4 billion, depending on the receipt of U.S. Food and Drug Administration milestone approvals.
Finally, Celgene will make payments depending on sales, with a maximum of $4.5 billion due if annual net sales of Impact’s treatments exceed $5 billion.
Celgene is a bio-technology company based in Summit, New Jersey, that specializes in treatments for multiple myeloma.
By Elizabeth Dilts
Source: Reuters
Novartis will acquire Mariana’s lead candidate MC-339, a radioligand therapy (RLT) designed to target small-cell lung cancer. Last year, Mariana had raised $175m in a Series B round from several funds and pharma giant Eli Lilly.
The company’s aspiration to expand the use of its obesity products to cardiovascular indications has been successful. In March, its blockbuster drug Wegovy was approved by the US Food and Drug Administration (FDA) for reducing the risk of cardiovascular diseases in obese or overweight adults.
Massachusetts-based Deciphera brings to the table an extensive kinase inhibitor pipeline, kinase drug discovery expertise, and a strong commercial and sales platform in the US and European markets that is meant to advance Ono’s capabilities and presence in the oncology space.
