M&A

The transaction has been approved by both companies’ board of directors and is expected to close later in the second quarter of 2024.

Alpine’s lead molecule is povetacicept (ALPN-303), a ‘highly potent and effective dual antagonist of BAFF (B cell activating factor) and APRIL (a proliferation inducing ligand)’, according to the company’s press release. The candidate has shown potential best-in-class efficacy in IgA nephropathy (IgAN).

Mitchell H Gold MD, executive chairman and chief executive officer of Alpine, commented: “Today’s announcement marks a new chapter for Alpine. It became clear during our discussions with the Vertex team that we share many core values, including a commitment to patients, our employees and an intense drive for innovation. Povetacicept has demonstrated potential best-in-class attributes in IgA nephropathy and has broad development potential across a number of other autoimmune and inflammatory conditions with significant unmet need. We look forward to the opportunity, now more than ever, to make a meaningful difference in the lives of patients worldwide as part of Vertex.”

Reshma Kewalramani MD FASN, chief executive officer and president of Vertex, stated: “Alpine is a compelling strategic fit for Vertex and furthers our ambition of using scientific innovation to create transformative medicines targeting serious diseases with high unmet need in specialty markets. We look forward to welcoming the talented Alpine team to Vertex and believe that together we can bring povetacicept, a potential best-in-class treatment for IgAN, to patients faster. We also look forward to fully exploring povetacicept’s potential as a ‘pipeline-in-a-product’ and adding Alpine’s protein engineering and immunotherapy capabilities to Vertex’s toolbox.”