Ipsen to Buy Kartos for $450M, Expanding Oncology Portfolio with Myelofibrosis Drug
Acquisition Details and Strategic Impact
Overview of the Deal
June 29 (Reuters) - Ipsen will buy U.S.-based Kartos Therapeutics for $450 million to expand its oncology pipeline with a late-stage blood cancer treatment, the French biotech company said on Monday.
Key Highlights of the Agreement
- The deal gives Ipsen navtemadlin, an investigational oral therapy being evaluated in a Phase III trial for patients with myelofibrosis, a rare blood cancer.
- Kartos shareholders will be eligible for up to $1.3 billion in additional milestone payments tied to regulatory and sales targets.
- Initial trial data is expected in 2027, potentially paving the way for the therapy to be launched as early as 2028.
- Ipsen says the acquisition will boost core operating income from 2029.
- The deal is expected to close by the end of the third quarter of this year, subject to antitrust clearance.
Future Outlook and Timeline
(Reporting by Lucie Barbier and Margaux PerrinEditing by David Goodman)
