Switzerland-based Novartis (NYSE: NVS) has announced a voluntary public takeover offer to acquire Germany-based biopharmaceutical firm MorphoSys (FSE: MOR; NASDAQ: MOR) for €2.7 billion. The transaction is anticipated to finalize in the first half of 2024, pending the fulfillment of customary conditions.
By acquiring MorphoSys, Novartis aims to incorporate two clinical-stage oncology assets. The first, pelabresib, is a potential next-generation BET inhibitor currently undergoing a Phase III trial for myelofibrosis (MF), where it has recently met its primary endpoint of reducing spleen volume. The second, tulmimetostat, is an EZH1/EZH2 dual inhibitor that is in the early stages of development targeting advanced solid tumors and lymphomas.
This announcement follows Novartis’s recent expansion of its immunology portfolio with the acquisition of the Netherlands-based IL-15 specialist Calypso Biotech.- Flcube.com
