Novartis has signed an agreement to acquire MorphoSys as a strategic step to enhance its oncology and hematology pipeline by owning programs incl. pelabresib, being evaluated in the P-II study as a 2L treatment for essential thrombocythemia & tulmimetostat, targeting EZH1 and EZH2 proteins, being investigated for solid tumors or lymphomas
Novartis will take over all MorphoSys’ no-par value bearer shares for ~$73 each, making it a total of ~$2.9B in cash
The transaction, to be concluded in H1’24, has certain closing conditions with Novartis seeking a minimum 65% acceptance of MorphoSys’ outstanding shares and regulatory approvals. MorphoSys will function as an independent company until the closure
Ref: Novartis | Image: morphosys
Related News:- MorphoSys and Incyte Presents Five-Year P-II Study (L-MIND) Results of Monjuvi (tafasitamab-cxix) for Relapsed or Refractory Diffuse Large B-Cell Lymphoma AACR 2023
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