Novartis expects to file for FDA approval in H2 2024 for its pelabresib/ruxolitinib combination treatment. Credits: Taljat David/Shutterstock.com
Novartis announced that it has set its sights on MorphoSys with a $2.9bn cash acquisition agreement to bolster its oncology portfolio.
As per the 5 February press release, Novartis will pay approximately $73 per share and will gain cancer therapies pelabresib (CPI-0610) and tulmimetostat (CPI-0209) upon the acquisition’s completion. Tulmimetostat, an enhancer of zeste homolog 1 and 2 (EZH1/EZH2) protein targeting dual inhibitor, is an early-stage therapeutic candidate being evaluated in a Phase I/II study (NCT04104776) for advanced solid tumours and lymphomas.
Pelabresib is a selective, small-molecule bromodomain and extra-terminal domain (BET) inhibitor designed to downregulate signals involved in myelofibrosis disease pathways and promote anti-tumour activity. The drug is currently being trialled in combination with the Janus kinase (JAK) inhibitor ruxolitinib in the second half of the Phase I/II MANIFEST study (NCT02158858) for myelofibrosis and essential thrombocythaemia, as well as the Phase III MANIFEST-2 study (NCT04603495) for myelofibrosis in patients that have not had previous treatments with JAK inhibitorsJAK inhibitors.
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Source: Pharmaceutical Technology
Conversely, MorphoSys has actively been offloading its pipeline after MorphoSys CEO Dr Jean-Paul Kress said at the 2023 BIO-Europe conference that “creative financing” methods are needed to advance clinical trials in the existing financial climate and tough investment landscape.
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