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Deals report: Vertex’s biggest deal yet, and more


Novartis gets two androgen receptor protein degraders from Arvinas and Genentech-Adaptimmune terminate allogeneic T cell therapy deal

By Gunjan Ohri, Data Content Analyst

April 16, 2024 12:23 AM UTC

The year’s biggest deal by dollar value was also the largest that Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) has entered to date. The big biotech agreed to acquire  Alpine Immune Sciences Inc. (NASDAQ:ALPN) for $4.9 billion, adding to its portfolio povetacicept, a dual BAFF/APRIL inhibitor that Vertex believes could be best in class for IgA nephropathy while offering opportunities for label expansions. The program expands Vertex’s renal disease pipeline and further diversifies its potential growth drivers outside cystic fibrosis. Povetacicept is also in studies for systemic lupus erythematosus and cytopenia.

Among partnerships announced last week was a targeted protein degrader deal between  Novartis AG (SIX:NOVN; NYSE:NVS) and  Arvinas Inc. (NASDAQ:ARVN) for $150 million up front and up to $1.2 billion in total biobucks. Novartis gains worldwide rights to develop and commercialize Phase II prostate cancer candidate ARV-766, an oral androgen receptor degrader created using Arvinas’ proteolysis targeting chimera (PROTAC) platform. The pharma also purchased a preclinical degrader targeting the androgen receptor and its splice variant AR-V7. …