In addition, company will acquire the Abzena Inside portfolio product TNT009 for treatment of cold agglutinin disease (CAD)
CAD is an autoimmune disease characterised by the presence of high concentrations of circulating antibodies, usually Immunoglobulin M (pictured). Credit: Lennert B, via Wikimedia Commons
Global biotechnology specialists in haemophilia and other rare blood disorders, Bioverativ, has entered into a definitive agreement to acquire True North Therapeutics for an upfront payment of $400m plus assumed cash.
True North is a clinical stage biopharmaceutical company focused on the discovery, development and commercialisation of first-in-class product candidates for complement-mediated diseases.
True North investors are also eligible to receive additional payments of up to $425m contingent on the achievement of future development, regulatory and sales milestones.
As part of the acquisition, Bioverativ will obtain worldwide rights to True North Therapeutics’ lead candidate, TNT009, a first-in-class monoclonal antibody in development to treat cold agglutinin disease (CAD).
CAD is a rare and chronic haemolytic condition that often leads to severe anaemia, requiring numerous transfusions, and can result in life-threatening thrombotic events.
There are no approved therapies for CAD, which occurs in approximately 16 people per million globally, including an estimated 5,000 people in the United States.
TNT009 was created using Abzena’s Composite Human Antibody technology and falls within the Abzena Inside portfolio of products being developed by Abzena’s partners.