Vertex Plays Defense In CF With Concert Deal
Vertex is spending $160m to acquire Concert's "enhanced" version of its own blockbuster cystic fibrosis treatment Kalydeco, known as CTP-656, in a defensive move that could allow the company to simplify its dosing regimens and differentiate its products against future competition.
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While Pfizer’s JAK3 inhibitor is in Phase II/III for alopecia areata, Concert thinks its deuterium-modified ruxolitinib may get to market sooner. However, the breadth of Incyte’s ruxolinitib patent protection is unclear.
Athenex and Immuron launched IPOs in the US, but June has otherwise been a pretty quiet month for new biopharma financings – so far. The largest VC round so far this month is Checkmate's $27m Series B and the biggest public offering was conducted by CTI BioPharma, raising $45m.
Intellectual property licensed from UCSF focuses on non-mutated, wild-type CFTR activators and inhibitors, thought to offer potential in ophthalmic, renal and gastrointestinal indications.