SHARE NOW
Bristol Myers Squibb and Mirati Therapeutics, Inc.® have officially announced a definitive merger agreement, with Bristol Myers Squibb set to acquire Mirati for $58.00 per share in cash, amounting to a total equity value of $4.8 billion.
Mirati Therapeutics is a commercial stage targeted oncology company whose assets align seamlessly with Bristol Myers Squibb’s existing portfolio and innovative pipeline, presenting a compelling opportunity to expand Bristol Myers Squibb’s presence in the field of oncology.
Giovanni Caforio, CEO and Board Chair of Bristol Myers Squibb, stated:
“We are excited to add these assets to our portfolio and to accelerate their development as we seek to deliver more treatments for cancer patients.”
This acquisition brings KRAZATI, a significant lung cancer medicine, into Bristol Myers Squibb’s commercial portfolio and grants access to a promising array of clinical assets that complement the company’s oncology pipeline, offering potential as standalone therapies and in combination strategies.
Lung cancer is one of the most common cancers globally. KRASG12C is the most common KRAS mutation in non-small cell lung cancer (NSCLC), found in approximately 14% of patients with lung adenocarcinoma.
How are you enjoying this news article? Let us know your thoughts, here >>
Mirati’s portfolio includes:
- KRAZATI (adagrasib): Granted accelerated FDA approval for the treatment of adult patients with KRASG12C-mutated locally advanced or metastatic Non-Small Cell Lung Cancer (NSCLC). This mutation accounts for about 14% of NSCLC patients. KRAZATI stands out with its long half-life and the ability to combine with a PD-1 inhibitor in first-line NSCLC treatment. It also shows promise in treating patients with colorectal cancer and pancreatic ductal adenocarcinoma.
- MRTX1719: A potential first-in-class MTA-cooperative PRMT5 inhibitor in Phase 1 development, demonstrating early efficacy across various tumor types.
- Leading KRAS and KRAS-enabling programs, including MRTX1133 and MRTX0902: MRTX1133 targets the KRASG12D mutation, implicated in pancreatic cancer, NSCLC, and colorectal cancer. MRTX0902 is a SOS1 inhibitor in Phase 1 clinical development.
Charles Baum, Founder, President, and Chief Executive Officer of Mirati Therapeutics, remarked:
“Bristol Myers Squibb’s global scale, resources, and commitment to innovation will enable Mirati’s therapeutics to benefit more patients, faster.”
The transaction is expected to close in the first half of 2024 and is subject to customary closing conditions, including regulatory approvals.
Mirati stockholders will also receive a non-tradeable Contingent Value Right (CVR) for each Mirati share held, potentially worth $12.00 per share in cash, adding an additional $1.0 billion of value opportunity. This transaction has received unanimous approval from both the Bristol Myers Squibb and Mirati Boards of Directors.
Source: Mirati Therapeutics Press Release
While we have you…
We are continuously working to better optimize our content for you, our audience. Let us know how we’re doing by ticking the box below, or send us your feedback directly to team@phacilitate.com.
