MorphoSys Enters into Business Combination Agreement to be Acquired by Novartis for € 2.7 Billion
PLANEGG/MUNICH, Germany – February 5, 2024 – MorphoSys AG today announced the company entered into a Business Combination Agreement with Novartis based on Novartis’ intention to submit a voluntary public takeover offer for all outstanding MorphoSys shares for € 2.7 Billion equity value.
As part of the Business Combination Agreement with Novartis, Novartis seeks to obtain exclusive, worldwide rights to develop and commercialize pelabresib, an investigational BET inhibitor across all indications. Pelabresib (CPI-0610) is an investigational selective small molecule designed to promote anti-tumor activity by inhibiting the function of bromodomain and extra-terminal domain (BET) proteins to decrease the expression of abnormally expressed genes in cancer.
The development of pelabresib was funded in part by The Leukemia & Lymphoma Society.