In a multibillion-dollar deal within the biotechnology sector, Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX), a leader in genetic disease treatment, has entered into an agreement to acquire Alpine Immune Sciences (NASDAQ: ALPN), a U.S.-based company specializing in protein engineering for immunotherapies. The transaction, valued at approximately USD 4.9 billion, is anticipated to close in the second quarter of 2024, subject to the fulfillment of customary conditions.
Alpine’s flagship candidate, povetacicept, a dual BAFF/APRIL antagonist, is positioned as a potential best-in-class therapy for IgA nephropathy (IgAN), which is the most prevalent form of primary glomerulonephritis. The company plans to initiate a Phase III trial for povetacicept in IgAN in the second half of 2024. Additionally, the molecule is under development for other autoimmune diseases affecting the kidney and autoimmune cytopenias.- Flcube.com
