US-based Vertex Pharmaceuticals has agreed to pay approximately $4.9 billion in cash to acquire Alpine Immune Sciences, a compatriot biotechnology company focused on discovering and developing innovative, protein-based immunotherapies.
The transaction was unanimously approved by the boards of directors of both companies and is expected to close later this quarter.
Alpine’s lead molecule, povetacicept (ALPN-303), is a dual antagonist of BAFF (B cell activating factor) and APRIL (a proliferation inducing ligand). Through Phase 2 development, povetacicept has shown potential best-in-class efficacy in IgA nephropathy (IgAN), the companies said in a joint statement. IgAN is a serious, progressive, autoimmune disease of the kidney that can lead to end-stage-renal disease. So far, there are no approved therapies that target the underlying cause of IgAN. Povetacicept is on track to enter Phase 3 clinical development in the second half of 2024.
Due to its mechanism of action as a dual BAFF/APRIL antagonist, povetacicept holds the potential to benefit patients with other serious autoimmune diseases of the kidney.
“Alpine is a compelling strategic fit for Vertex and furthers our ambition of using scientific innovation to create transformative medicines targeting serious diseases with high unmet need in specialty markets,” said Reshma Kewalramani, CEO and president of Vertex.
Mitchell H. Gold, executive chairman and CEO of Alpine, added: “Povetacicept has demonstrated potential best-in-class attributes in IgA nephropathy and has broad development potential across a number of other autoimmune and inflammatory conditions with significant unmet need. We look forward to the opportunity, now more than ever, to make a meaningful difference in the lives of patients worldwide as part of Vertex.”
Source: chemanager-online.com
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