BPMC - Blueprint Medicines to acquire precision oncology company Lengo Therapeutics

Blueprint Medicines Corporation (NASDAQ:BPMC) announced a definitive agreement to acquire Lengo Therapeutics, a closely held precision oncology company for a total consideration of more than $400M. For the acquisition, the company is set to pay $250M in cash and up to $215M in additional payments based on regulatory and sales-based milestones. Subject to certain conditions, the transaction is expected to close before the end of the year. In December, Lengo Therapeutics expects to submit an investigational new drug (IND) application to the FDA for LNG-451, an experimental therapy for non-small cell lung cancer (NSCLC) in those with the exon 20 insertion mutations in the genome. As of Sep. 30, Blueprint Medicines (BPMC) had $1.2B in cash, cash equivalents, and investments compared to $1.5B in 2020 year-end.

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Blueprint Medicines to acquire precision oncology company Lengo Therapeutics