Celgene announced on Monday it had acquired privately held Impact Biomedicines in a $1.1bn deal and up to $1.25bn pending approval of certain milestones for myelofibrosisby the US Food and Administration and possible sales performance.
San Diego-based Impact Biomedicines is developing fedratinib a highly selective JAK2 kinase inhibitor, for polycythemia vera and myelofibrosis, an uncommon type of bone marrow disorder which is showing promise after clinical trials.
Regulatory applications in myelofibrosis are planned beginning in the middle of 2018.
“Myelofibrosis is a disease with high unmet medical need as the number of patients who are ineligible for or become resistant to existing therapy continues to increase,” Nadim Ahmed, president, hematology and oncology for Celgene said in a statement.
Ahmed added, “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.”
Nasdaq-listed Celgene slipped -0.21% in early trading on Monday.