Biopharma company Celgene is set to acquire Impact Biomedicines

By Catherine Sturman
Celgene has recently announced that it is set to acquire Impact Biomedicines and its drug fedratinib, which will be added to Celgene’s therapies for m...

Celgene has recently announced that it is set to acquire Impact Biomedicines and its drug fedratinib, which will be added to Celgene’s therapies for myelofibrosis (a type of bone marrow cancer) and polycythemia vera. Further payment opportunities will arise upon the drug’s sales performance worldwide.

Celgene will pay approximately $1.1 billion upfront and up to $1.25 billion in contingent payments based on regulatory approval milestones for myelofibrosis. The acquisition is one of the largest in the company’s history.

"Myelofibrosis is a disease with high unmet medical need as the number of patients who are ineligible for or become resistant to existing therapy continues to increase," commented Nadim Ahmed, President, Haematology and Oncology for Celgene.

See also

"We believe fedratinib is uniquely positioned as a potential treatment for myelofibrosis and it provides strategic options for us to build leadership in this disease with luspatercept and other pipeline assets."

Impact’s Chief Executive, John Hood, is one of the co-inventors of fedratinib when working at TargeGen Inc. Now involved in the sale of fedratinib for the second time, Hood has observed its potential for treating patients with myelofibrosis.

“We launched Impact Biomedicines and based on our thorough review of the data, fedratinib presents a compelling risk benefit profile in both treatment-naïve patients and patients who are resistant or intolerant to other JAK2 therapies,” he said.

"We believe Celgene is the ideal organisation to follow through on our mission of maximizing fedratinib's potential for patients with myelofibrosis."

Share

Featured Articles

Johnson & Johnson: Turning supplier spend into local support

Johnson & Johnson’s Global Supplier Diversity & Inclusion team is growing spending with social enterprises around the globe to expand its impact

Seasonal Affective Disorder’s impact on health & solutions

Dr Ravi Gill & Dr. Naomi Newman-Beinart discuss Seasonal Affective Disorder and its treatments, from vitamin D spray to light therapy

CGI teams up with Totalmobile for digital healthcare service

CGI is driving efficiency in healthcare. Hear from Helena Jochberger, at Manufacturing Digital LIVE, a free virtual event on Wednesday 6th December 2023

Deloitte: generative AI can improve access to healthcare

Technology & AI

Wipro & NVIDIA’s revolutionary healthcare uses generative AI

AI & ML

Healthtech platform CoverSelf extends seed round to US$8.2m

Technology & AI