CAMBRIDGE, Mass. and
SAN DIEGO, Nov. 29, 2021 /PRNewswire/ -- Blueprint
Medicines Corporation (NASDAQ: BPMC) today announced that the
company has entered into a definitive agreement under which it will
acquire Lengo Therapeutics, a privately held precision oncology
company, for $250 million in cash
plus up to $215 million in additional
potential payments based on the achievement of certain regulatory
approval and sales-based milestones.
The acquisition includes Lengo Therapeutics' lead compound
LNG-451, a potential best-in-class oral precision therapy in
development for the treatment of non-small cell lung cancer (NSCLC)
in patients with EGFR exon 20 insertion mutations. Preclinical data
show LNG-451 potently inhibits all common EGFR exon 20 insertion
variants with marked selectivity over wild-type EGFR and off-target
kinases. In addition, LNG-451 is highly brain-penetrant and has
demonstrated compelling activity in a preclinical intracranial
disease model.
Based on these and other preclinical data, Lengo Therapeutics
anticipates it will submit an investigational new drug (IND)
application for LNG-451 to the U.S. Food and Drug Administration
(FDA) in December 2021.
"Our acquisition of Lengo Therapeutics deepens our commitment to
advancing precision oncology therapies and specifically expands our
opportunity to transform treatment for patients with EGFR-driven
lung cancer," said Jeff Albers,
Chief Executive Officer of Blueprint Medicines. "The Lengo team has
done tremendous work in designing a highly selective therapeutic
candidate tailored to the needs of patients with EGFR exon 20 lung
cancer, including features with the potential to enable treatment
or prevention of brain metastases. With our integrated precision
therapy research, development and commercial capabilities,
Blueprint Medicines is perfectly positioned to carry forward this
compound into the clinic and deliver on our goal to meaningfully
advance care for NSCLC patients with EGFR exon 20 insertion
mutations."
"With a proven track record of developing and delivering
precision therapies for patients with significant medical needs and
a compelling lung cancer portfolio, Blueprint Medicines is unique
in its abilities to quickly progress LNG-451," said Enoch Kariuki, Chief Executive Officer of Lengo
Therapeutics. "From our inception, the Lengo Therapeutics team has
focused on generating best-in-class compound profiles, prioritizing
those with brain penetration along with high potency and
selectivity, like LNG-451. I am incredibly proud of the team for
getting us to this point and excited to see the programs continue
under Blueprint Medicines' leadership."
With the addition of LNG-451, Blueprint Medicines will have
three investigational compounds, each with best-in-class potential,
that cover the majority of all activating mutations in EGFR, the
second most common oncogenic driver in NSCLC.1
Approximately 12 percent of activating EGFR mutations are exon 20
insertions and significant medical need remains for patients
harboring these mutations, including new treatment options with
improved tolerability, combinability and enhanced brain penetration
to treat or prevent brain metastases.1
The acquisition also brings additional undisclosed preclinical
precision oncology programs and research tools, including a catalog
of covalent, highly brain penetrant kinase inhibitors that
Blueprint Medicines plans to add to its proprietary compound
library to further enable future drug discovery efforts.
Blueprint Medicines anticipates the acquisition will close in
the fourth quarter of 2021, subject to certain conditions,
including the expiration of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act and other customary
conditions.
Goldman Sachs & Co. LLC is acting as financial advisor to
Blueprint Medicines and Goodwin Procter LLP is acting as its legal
counsel. Centerview Partners LLC is acting as financial advisor to
Lengo Therapeutics and Cooley LLP is acting as its legal
counsel.
Conference Call Information
Blueprint Medicines will host a live webcast beginning at
8:30 a.m. ET today to discuss the
planned acquisition of Lengo Therapeutics. To access the live call,
please dial 844-200-6205 (domestic) or 929-526-1599 (international)
and refer to conference ID 936793. A webcast of the conference call
will be available under "Events and Presentations" in the Investors
& Media section of Blueprint Medicines' website at
http://ir.blueprintmedicines.com. The archived webcast will be
available on Blueprint Medicines' website approximately two hours
after the conference call and will be available for 90 days
following the call.
About Blueprint Medicines' EGFR Development
Program
Derived from Blueprint Medicines' proprietary research platform,
BLU-945 and BLU-701 are investigational next-generation EGFR
non-covalent tyrosine kinase inhibitors. Both treatments are
specifically designed to provide comprehensive coverage of the most
common activating and on-target resistance mutations, spare
wild-type EGFR and other kinases to limit off-target toxicities and
enable a range of combination strategies, and treat or prevent
central nervous system metastases. BLU-945 is currently being
evaluated in the Phase 1/2 SYMPHONY trial in patients with
previously treated EGFR-driven NSCLC (NCT04862780). In addition,
Blueprint Medicines plans to initiate a Phase 1/2 trial of BLU-701
in the fourth quarter of 2021.
About Lengo Therapeutics
Lengo Therapeutics is a biopharmaceutical company committed to
developing novel, small molecule precision therapeutics that target
driver mutations in oncology. Lengo Therapeutics' team is comprised
of scientists and industry leaders with extensive expertise in
kinase biology, covalent drug-target technology, and oncology drug
development. The company's initial focus is on developing
inhibitors of protein kinases with mutations known as EGFR exon 20
insertions which are associated with poor prognoses in non-small
cell lung cancer and other solid tumors. Lengo Therapeutics is
based in San Diego and is backed
by Frazier Healthcare Partners and Velosity Capital.
About Blueprint Medicines
Blueprint Medicines is a global precision therapy company that
invents life-changing therapies for people with cancer and
hematologic disorders. Applying an approach that is both precise
and agile, we create medicines that selectively target genetic
drivers, with the goal of staying one step ahead across stages of
disease. Since 2011, we have leveraged our research platform,
including expertise in molecular targeting and world-class drug
design capabilities, to rapidly and reproducibly translate
science into a broad pipeline of precision therapies. Today, we are
delivering approved medicines directly to patients in the United States and Europe, and we are globally advancing multiple
programs for genomically defined cancers,
systemic mastocytosis, and cancer immunotherapy. For more
information, visit www.BlueprintMedicines.com and follow
us on Twitter (@BlueprintMeds) and LinkedIn.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including, without limitation, express or implied
statements regarding plans, strategies, timelines and expectations
for Blueprint Medicines' current or future approved drugs and
drug candidates, including timelines for marketing applications and
approvals, the initiation of clinical trials or the results of
ongoing and planned clinical trials; Blueprint
Medicines' plans, strategies and timelines to nominate
development candidates; plans and timelines for additional
marketing applications
for avapritinib and pralsetinib and, if
approved, commercializing
avapritinib and pralsetinib in additional
geographies or for additional indications; the potential benefits
of any of Blueprint Medicines' current or future approved
drugs or drug candidates in treating patients; the potential
benefits of Blueprint Medicines' collaborations; timelines and
expectations for the proposed acquisition (including future
performance and revenue); and Blueprint Medicines' strategy,
goals and anticipated financial performance, milestones, business
plans and focus. The words "aim,"
"may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend,"
"believe," "estimate,"
"predict," "project," "potential," "continue," "target" and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Any forward-looking statements in this
press release are based on management's current expectations and
beliefs and are subject to a number of risks, uncertainties and
important factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation, risks and uncertainties related to the impact of the
COVID-19 pandemic to Blueprint Medicines' business,
operations, strategy, goals and anticipated milestones, including
Blueprint Medicines' ongoing and planned research and
discovery activities, ability to conduct ongoing and planned
clinical trials, clinical supply of current or future drug
candidates, commercial supply of current or future approved
products, and launching, marketing and selling current or future
approved products; Blueprint Medicines' ability and plans in
continuing to establish and expand a commercial infrastructure, and
successfully launching, marketing and selling current or future
approved products; Blueprint Medicines' ability to
successfully expand the approved indications for AYVAKIT/AYVAKYT
and GAVRETO or obtain marketing approval for AYVAKIT/AYVAKYT in
additional geographies in the future; the delay of any current or
planned clinical trials or the development of Blueprint
Medicines' current or future drug candidates; Blueprint
Medicines' advancement of multiple early-stage efforts;
Blueprint Medicines' ability to successfully demonstrate the
safety and efficacy of its drug candidates and gain approval of its
drug candidates on a timely basis, if at all; the preclinical and
clinical results for Blueprint Medicines' drug candidates,
which may not support further development of such drug candidates;
actions of regulatory agencies, which may affect the initiation,
timing and progress of clinical trials; Blueprint
Medicines' ability to obtain, maintain and enforce patent and
other intellectual property protection for AYVAKIT/AYVAKYT, GAVRETO
or any drug candidates it is developing; Blueprint
Medicines' ability to develop and commercialize companion
diagnostic tests for AYVAKIT/AYVAKYT, GAVRETO or any of its current
and future drug candidates; Blueprint Medicines' ability to
complete the proposed acquisition in a timely manner or at all; the
occurrence of any event, change or other circumstances that could
give rise to the termination of the proposed acquisition; and the
success of Blueprint Medicines' current and future
collaborations, partnerships or licensing arrangements. These and
other risks and uncertainties are described in greater detail in
the section entitled "Risk Factors" in Blueprint
Medicines' filings with the Securities and Exchange Commission
(SEC), including Blueprint Medicines' most recent Annual
Report on Form 10-K, as supplemented by its most recent Quarterly
Report on Form 10-Q and any other filings that Blueprint Medicines
has made or may make with the SEC in the future. Any
forward-looking statements contained in this press release
represent Blueprint Medicines' views only as of the date
hereof and should not be relied upon as representing its views as
of any subsequent date. Except as required by law, Blueprint
Medicines explicitly disclaims any obligation to update any
forward-looking statements.
1 Riess JW, Gandara DR, Frampton GM, et al. "Diverse
EGFR Exon 20 Insertions and Co-Occurring Molecular Alterations
Identified by Comprehensive Genomic Profiling of NSCLC". J Thorac
Oncol. 2018;13(10):1560-1568. doi:10.1016/j.jtho.2018.06.019
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SOURCE Blueprint Medicines Corporation