Vertex Pharmaceuticals Inc. recently revealed its decision to acquire Alpine Immune Sciences Inc., a biotech firm specializing in the development and discovery of innovative, protein-based immunotherapies.
The acquisition, unanimously approved by both Vertex and Alpine's Board of Directors, will see Vertex acquiring Alpine at $65 per share or roughly $4.9 billion cash. The deal is expected to be concluded later this quarter.
Notably, Alpine's principal molecule, povetacicept (ALPN-303) works as a highly potent dual antagonist of BAFF (B cell activating factor) and APRIL (a proliferation-inducing ligand). Povetacicept has exhibited potentially superior efficacy in treating IgA nephropathy (IgAN) through its Phase 2 development.
"Alpine is an enticing strategic fit that propels our aim of using scientific innovation to create transformative medicines for severe diseases 'with high unmet needs 'in specialty markets," stated Reshma Kewalramani, M.D., FASN, Vertex's CEO and President. "We are keen to welcome Alpine's skilled team to Vertex and strongly believe that our combined efforts can accelerate delivery of povetacicept, a potentially superior treatment for IgAN. We are also enthusiastic about fully exploring the potential of povetacicept as a 'pipeline-in-a-product' and incorporating Alpine's protein engineering and immunotherapy capabilities into Vertex's toolkit."
