Vertex Pharmaceuticals To Buy Alpine Immune Sciences For $4.9 Bln

(RTTNews) - Vertex Pharmaceuticals Inc. (VRTX) Wednesday announced that it has agreed to acquire Alpine Immune Sciences Inc. (ALPN), a biotechnology company focused on discovering and developing innovative, protein-based immunotherapies.

Vertex will acquire Alpine for $65 per share or around $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).

"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," said Reshma Kewalramani, M.D., 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."