Acquisition Strengthens Vertex’s Position in Immunotherapy and Renal Disease Treatment
Vertex Pharmaceuticals (VRTX) and Alpine Immune Sciences, Inc. (Nasdaq: ALPN) have announced a definitive agreement for Vertex to acquire Alpine for $65 per share, totaling approximately $4.9 billion in cash. The acquisition, unanimously approved by both companies’ boards of directors, is expected to close later in the quarter.
Alpine’s lead molecule, povetacicept (ALPN-303), shows promising efficacy as a dual antagonist of BAFF and APRIL, particularly in IgA nephropathy (IgAN), a serious autoimmune kidney disease with no approved targeted therapies. Povetacicept’s advancement into Phase 3 clinical development, scheduled for the second half of 2024, holds significant potential to address the unmet needs of IgAN patients, as well as those with other autoimmune kidney diseases and autoimmune cytopenias.
Reshma Kewalramani, CEO and President of Vertex, emphasized the strategic fit of Alpine with Vertex’s focus on transformative medicines for specialty markets. Mitchell H. Gold, Executive Chairman and CEO of Alpine, expressed enthusiasm for the opportunity to leverage Vertex’s resources and advance povetacicept’s development, aiming to make a meaningful impact on patients’ lives worldwide.
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