CAMBRIDGE, Mass., Dec. 30, 2021 /PRNewswire/ -- Blueprint Medicines
Corporation (NASDAQ: BPMC) today announced that the company has
successfully completed its previously announced acquisition of
Lengo Therapeutics and 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. An investigational new drug (IND)
application for LNG-451 was submitted to the U.S. Food and Drug
Administration (FDA) by Lengo Therapeutics in December 2021.
"The acquisition of Lengo Therapeutics and its lead candidate
LNG-451 enables Blueprint Medicines to expand our pipeline in lung
cancer and harness our experience and expertise to advance
precision oncology therapies for the patients who need them," said
Fouad Namouni, M.D., President of Research & Development. "I
want to thank the Lengo Therapeutics team, again for their work to
advance the highly selective therapeutic candidate LNG-451, but
also for completing the IND submission with a continued sense of
urgency. Pending FDA clearance of the application, we plan to
advance LNG-451 into the clinic in the first quarter of 2022."
As previously disclosed, under the terms of the agreement,
Blueprint Medicines acquired Lengo Therapeutics 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.
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; expectations
for the 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; 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.
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SOURCE Blueprint Medicines Corporation