VRTX - Vertex Pharmaceuticals Moves Beyond $10B Cystic Fibrosis Franchise Pays Around $5B For Kidney Disease Player Alpine Immune | Benzinga
On Wednesday, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) agreed to acquire Alpine Immune Sciences Inc (NASDAQ:ALPN) for $65 per share or approximately $4.9 billion in cash.
Alpine’s lead molecule, povetacicept (ALPN-303), is a highly potent and effective 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), a type of kidney disease.
Povetacicept is on track to enter Phase 3 clinical development in the second half of 2024.
Vertex has built its business on genetic medicines for cystic fibrosis, which generated almost $10 billion in revenues in 2023.
The company recently added to its portfolio ...