RE:RE:RE:Sanofi Exploring Acquisition of KRAS Cancer Drugmaker MiratiOctober 09, 2023 - Bristol Myers Squibb, will pay up to $5.8 billion for the California-based cancer drug developer, the two companies said Sunday.
On top of the current equity value of $4.8 billion, the deal also includes a non-tradeable contingent value right term. It promises to pay Mirati shareholders $1 billion if the FDA accepts an application for the company’s pipeline drug MRTX1719 for NSCLC in patients who’ve received no more than two prior lines of therapy within seven years of deal closure.
According to an investor presentation BMS made for the Mirati deal, the New York pharma doesn’t seem to plan to change the Keytruda component in the upcoming Krazati combination study. But it did highlight the combination opportunities between BMS’ immunotherapies with Mirati’s targeted drugs.
As for MRTX1719 , the PRMT5 inhibitor is expected to enter phase 2 testing in the first half of 2024. The drug is designed to target MATP-deleted tumors, which make up about 10% of cancers.
https://www.fiercepharma.com/pharma/bristol-myers-buys-mirati-58b-i-o-giant-branches-out-targeted-therapy-cancer