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9 January 2018Americas

Celgene to acquire Impact Biomedicines for more than $1bn

Celgene Corporation is to acquire Impact Biomedicines in the first quarter of 2018.

The global pharmaceutical company will make an upfront payment of approximately $1.1 billion in addition to future contingent payments, based on regulatory approval of the biotech company’s blood cancer drug, fedratinib, and sales-based targets.

If the Food and Drug Administration provides approval and global annual net sales exceed $5 billion, the tiered sales-based payments could total up to $4.5 billion.

Impact is pioneering the development of life-changing treatments for patients with complex cancers. The company’s work centres on fedratinib, a highly selective JAK2 kinase inhibitor being developed for the treatment of cancers such as myelofibrosis and polycythemia vera.

When evaluated in 877 patients across 18 clinical trials, fedratinib demonstrated significant improvements in overall symptoms. Although the FDA halted the trials on safety grounds, the assessment has now been given the go-ahead to resume.

The release states that “based on the reported benefit risk profile of fedratinib”, regulatory applications in myelofibrosis are planned to begin in the middle of 2018.

Nadim Ahmed, president of hematology and oncology for Celgene, said: “We believe fedratinib is uniquely positioned as a potential treatment for myelofibrosis and it provides strategic options for us to build leadership in this disease with luspatercept and other pipeline assets.”

John Hood, CEO of Impact, added: “We believe Celgene is the ideal organisation to follow through on our mission of maximising fedratinib’s potential for patients with myelofibrosis.”

The announcement comes after Celgene filed a trademark infringement claim, relating to prescription pill Otezla, against Bangladeshi company Beacon Pharmaceuticals, as LSIPR reported.

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