Vertex Pharmaceuticals has announced its acquisition of Alpine Immune Sciences for $4.9 billion in cash, representing a 38% premium over Alpine's closing price on April 10, 2024. Alpine, based in Seattle, focuses on developing immunotherapies targeting cancer, kidney disease, and autoimmune and inflammatory conditions through engineered proteins influencing the body's immune response. The deal underscores Vertex's strategic expansion into immunotherapy, with Alpine's pipeline, notably its lead candidate povetacicept (ALPN-303), poised to enter Stage 3 clinical trials later in 2023 under Alpine's CEO, Mitchell Gold, who brings extensive biotech leadership experience.
This acquisition is part of a trend of major acquisitions in the Seattle biotech scene, with companies like ProfoundBio, Icosovax, Seagen, and Chinook Therapeutics being acquired for significant sums by larger pharmaceutical firms. The transaction, expected to close in the second quarter of the year pending regulatory approvals, signals Vertex's commitment to bolstering its portfolio and R&D capabilities. With unanimous approval from both boards, the acquisition positions Vertex to leverage Alpine's expertise and pipeline to address unmet medical needs in immunology and oncology.
