Apr 11th, 2024 - $Alpine Immune (ALPN.US)$ shares surged 36.62% to $64.265 in trading on Thursday.
VRTX to Acquire ALPN for $4.9 Billion
On Wednesday, Vertex Pharmaceuticals and Alpine Immune Sciences announced that the companies have entered into an agreement under which Vertex will acquire Alpine for $65 per share or about $4.9 billion in cash. The transaction is expected to close in the second quarter of 2024.
Mitchell H. Gold, M.D., Executive Chairman and Chief Executive Officer of Alpine said:
Today’s announcement marks a new chapter for Alpine. It became clear during our discussions with the Vertex team that we share many core values, including a commitment to patients, our employees, and an intense drive for innovation. Povetacicept has demonstrated potential best-in-class attributes in IgA nephropathy and has broad development potential across a number of other autoimmune and inflammatory conditions with significant unmet need. We look forward to the opportunity, now more than ever, to make a meaningful difference in the lives of patients worldwide as part of Vertex.
About Company
Alpine is committed to leading a new wave of immune therapeutics. With world-class research and development capabilities, a highly productive scientific platform, and a proven management team, Alpine is seeking to create first- or best-in-class multifunctional immunotherapies via unique protein engineering technologies to improve patients’ lives. Alpine has entered into strategic collaborations with leading global biopharmaceutical companies and has a diverse pipeline of clinical and preclinical candidates in development.