Sobi acquires CTI BioPharma Corporation for $1.7bn
Swedish Orphan Biovitrum (Sobi) has announced that it had entered into a ‘plan of merger’ with CTI BioPharma Corp (CTI), a biopharmaceutical company focused on blood-related cancers and rare diseases, by means of a tender offer valued at $1.7bn.
As part of the acquisition, Sobi will strengthen its haematology portfolio by adding Vonjo (pacritinib), a novel oral kinase inhibitor that inhibits JAK2, IRAK1 and ACRV1, while sparing JAK1. In February 2022, Vonjo was awarded accelerated approval by the US Food and Drug Administration (FDA) as a treatment for adults with intermediate or high-risk primary or secondary (post-polycythaemia vera or post-essential thrombocythaemia) myelofibrosis with a platelet count below 50 × 109/L.
Vonjo’s continued approval is based on the confirmatory phase 3 PACIFICA trial, with results due mid-2025.
Guido Oelkers, president and CEO of Sobi, stated: “CTI represents a perfect fit for Sobi’s haematology franchise today, adding a powerful and highly differentiated new product that will make a significant difference for patients. There is a large unmet medical need within myelofibrosis, in particular for patients suffering from thrombocytopenia who are inadequately treated by existing medicines. The combination of the talented team at CTI, together with Sobi’s broad US and global haematology capabilities, will help get this much-needed new therapy to patients faster and more effectively. The acquisition of CTI is the latest in a series of transformative transactions Sobi has conducted to build its leading rare haematology franchise.”
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