Vertex Pharmaceuticals has announced its acquisition of Alpine Immune Sciences for approximately $4.9 billion in cash. This deal will give Vertex access to Alpine’s treatment for IgA nephropathy (IgAN), an autoimmune disease of the kidney. The acquisition values each share of Alpine at $65, representing a 67% premium to the stock’s closing price before news of the potential takeover was reported.
After the news of the acquisition, shares of Alpine rose by 36% in extended trading, while shares of Vertex Pharma experienced a slight decline of about 1%. With this deal, Vertex will gain access to Alpine’s povetacicept, a treatment currently in mid-stage development for IgAN. This therapy targets proteins known as BAFF and APRIL, which play a role in the development of autoimmune and antibody diseases.
IgAN affects approximately 130,000 individuals in the United States and occurs when clumps of antibodies accumulate in the kidneys. In addition to their approval for treatments of cystic fibrosis, sickle cell disease, and transfusion-dependent beta thalassemia, Vertex will now have a potential treatment in the pipeline for IgAN.
The acquisition has been approved by the boards of both companies and is expected to close in the second quarter of 2024. According to a filing, Alpine may be required to pay Vertex a fee of $173 million if the deal is terminated. This acquisition marks a significant move for Vertex Pharmaceuticals in expanding their portfolio of treatments for rare diseases and autoimmune disorders.
