Vertex Pharmaceuticals agrees to buy Alpine Immune Sciences and IgA nephropathy drug
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Key takeaways:
- Vertex Pharmaceuticals will buy Alpine Immune Systems for $4.9 billion in cash.
- Alpine has a product in the pipeline called povetacicept, which aims to treat IgA nephropathy.
Vertex Pharmaceuticals Inc. has agreed to acquire Alpine Immune Sciences Inc., a company developing a drug to treat IgA nephropathy, according to a press release.
The $4.9 billion cash deal is expected to close in the second quarter of the year, according to Vertex.
Alpine’s lead molecule, povetacicept (ALPN-303), is a dual antagonist of B cell-activating factor and a proliferation-inducing ligand. “Through phase 2 development, povetacicept has shown potential best-in-class efficacy in IgA nephropathy (IgAN),” according to the release. “Povetacicept is on track to enter phase 3 clinical development in the second half of 2024.”
“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 need in specialty markets,” Reshma Kewalramani, MD, CEO and president of Vertex, said in the release. “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.”
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