Vertex: $4.9 Billion Acquisition of Alpine Immune Sciences Expands Kidney-Disease Portfolio

Narrow-moat Vertex announced it will acquire Alpine Immune Sciences, a biotechnology company focused on discovering protein-based immunotherapies, for $4.9 billion in cash. The acquisition will expand Vertex's kidney-disease portfolio, as Alpine's leading molecule is being evaluated as a treatment for IgA nephropathy, or IgAN, a chronic kidney condition that can lead to end-stage renal disease. There are no approved therapies that target the underlying cause of IgAN, which affects about 130,000 people in the US. However, in Phase 2 studies, povetacicept has shown potential best-in-class efficacy in IgAN. We like that povetacicept is on track to enter Phase 3 clinical trials in the second half of 2024.