Bioverativ to acquire clinical-stage rare disease biotechnology company, True North Therapeutics – Seeking Alpha

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).

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.

The acquisition of True North advances the Company's vision of becoming the leading rare disease company focused on blood disorders.

TNT009 has also received orphan drug designation from the FDA and the European Medicines Agency.

Bioverativ will hold a conference call at 8:30 a.m. ET to discuss the transaction.

Follow this link:
Bioverativ to acquire clinical-stage rare disease biotechnology company, True North Therapeutics - Seeking Alpha