Bioverativ (NASDAQ:BIVV) announces that it has entered into a definitive agreement to acquire South San Francisco-based True North Therapeutics, a privately-held, clinical-stage rare disease biotechnology company, for an upfront payment of $400M plus assumed cash. <\/p>\n
As part of the acquisition, Bioverativ will obtain worldwide rights to True Norths lead candidate, TNT009, a first-in-class monoclonal antibody in development to treat cold agglutinin disease (CAD). <\/p>\n
In May 2017, the FDA granted TNT009 breakthrough therapy designation for the treatment of hemolysis in patients with primary CAD, and plans for the full clinical development program. <\/p>\n
The acquisition of True North advances the Company's vision of becoming the leading rare disease company focused on blood disorders. <\/p>\n
TNT009 has also received orphan drug designation from the FDA and the European Medicines Agency. <\/p>\n
Bioverativ will hold a conference call at 8:30 a.m. ET to discuss the transaction. <\/p>\n
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Originally posted here: Bioverativ (NASDAQ:BIVV) announces that it has entered into a definitive agreement to acquire South San Francisco-based True North Therapeutics, a privately-held, clinical-stage rare disease biotechnology company, for an upfront payment of $400M plus assumed cash. As part of the acquisition, Bioverativ will obtain worldwide rights to True Norths lead candidate, TNT009, a first-in-class monoclonal antibody in development to treat cold agglutinin disease (CAD). Continue reading
\nBioverativ to acquire clinical-stage rare disease biotechnology company, True North Therapeutics - Seeking Alpha<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"