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Vertex Signs Agreement to Acquire Alpine Immune Sciences

Vertex Signs Agreement to Acquire Alpine Immune Sciences

Vertex Pharmaceuticals has signed a definitive agreement with Alpine Immune Sciences, a biotechnology company focused on discovering and developing innovative, protein-based immunotherapies, under which Vertex will acquire Alpine for USD 65 per share or approximately USD 4.9 billion in cash.

The transaction was unanimously approved by both the Vertex and Alpine Boards of Directors and is anticipated to close later this quarter.

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). IgAN is a serious, progressive, autoimmune disease of the kidney that can lead to end-stage renal disease.

There are no approved therapies that target the underlying cause of IgAN. IgAN is the most common cause of primary (idiopathic) glomerulonephritis worldwide, affecting approximately 130,000 people in the US 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, such as membranous nephropathy and lupus nephritis, as well as autoimmune cytopenias. Clinical studies in renal indications and autoimmune cytopenias are ongoing.

“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 needs in specialty markets,” said Reshma Kewalramani, MD, FASN, Chief Executive Officer and President of Vertex.

“We look forward to welcoming the talented Alpine team to Vertex and believe that together we can bring povetacicept, a potential best-in-class treatment for IgAN to patients faster. We also look forward to fully exploring povetacicept’s potential as a ‘pipeline-in-a-product' and adding Alpine’s protein engineering and immunotherapy capabilities to Vertex’s toolbox,” said Kewalramani.

“Today’s announcement marks a new chapter for Alpine,” said Mitchell H. Gold, MD, Executive Chairman and Chief Executive Officer of Alpine.

“It became clear during our discussions with the Vertex team that we share many core values, including a commitment to patients, and our employees, and an intense drive for innovation. Povetacicept has demonstrated potential best-in-class attributes in IgA nephropathy and has broad development potential across several other autoimmune and inflammatory conditions with significant unmet needs. 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,” he added.

More news about: global pharma | Published by Aishwarya | April - 11 - 2024 | 239

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