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Bioverativ Fills Gap In Pipeline With $400m True North Buy

 
• By Mandy Jackson

Bioverativ revealed its first transaction since spinning out from Biogen with the acquisition of True North for $400m plus up to $425m in milestone payments. The deal gives Bioverativ a clinical asset, helping to fill the gap between preclinical programs and commercial products in its R&D pipeline.

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Bioverativ Inc. was spun out of Biogen earlier this year with a large gap in its research and development pipeline, which the hematology-focused company is starting to fill with the acquisition of True North Therapeutics Inc. and its Phase II-ready candidate for rare hemolytic anemias.

True North's lead drug candidate TNT009 was successful in a Phase Ib clinical trial that enrolled six patients with cold agglutinin disease (CAD). The early-stage data helped the firm raise a $45m Series D venture capital round in October and win a recently granted breakthrough therapy designation from the US FDA in the treatment of hemolysis in patients with primary CAD – events that could accelerate the monoclonal antibody's development even without an acquirer stepping in

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