ARTICLE | Deals
How CTI found its target population and set itself up for a $1.7B takeout by Sobi
Swedish company pays 89% premium to add Vonjo to hematology portfolio, a year after its accelerated approval in a disease space dominated by Jakafi
May 10, 2023 8:23 PM UTC
CTI Biopharma’s $1.7 billion takeout by Sobi is the latest example of a biotech that homed in on a specific unmet need and concentrated its resources where its case for differentiation was strongest, resulting in a M&A deal.
Decades into its history, CTI Biopharma Inc. (NASDAQ:CTIC) had fairly little to show for its expensive efforts to develop cancer drugs. But a decision to focus development of JAK-2 inhibitor Vonjo pacritinib on a subset of myelofibrosis patients led to the drug’s long-awaited 2022 approval, and set up the company for its acquisition...