Summary by Moomoo AI
Vertex Pharmaceuticals Incorporated announced its definitive agreement to acquire Alpine Immune Sciences for $65 per share in cash, valuing the transaction at approximately $4.9 billion. The acquisition is set to enhance Vertex's portfolio with Alpine's lead asset, povetacicept, a Phase III-ready molecule for IgA nephropathy (IgAN), and other potential therapies. Povetacicept is also being evaluated for other serious immune renal diseases and cytopenias. The transaction, expected to close this quarter, will be funded through cash on hand. Vertex aims to leverage its clinical, regulatory, and commercial capabilities to expedite the development and commercialization of povetacicept, targeting approval in IgAN by 2027. The acquisition aligns with Vertex's strategy of focusing on transformative therapies for serious diseases and adds protein engineering and immunotherapy expertise to its capabilities. The tender offer for Alpine's outstanding shares has not yet commenced, and the related Tender Offer Materials and Solicitation/Recommendation Statement will be filed with the SEC and made available to Alpine's stockholders.