Pharmaceutical Industry Roundup: Mergers, Clinical Trials, and Financial Challenges

Bluebird bio Acquisition Saga Continues

Bluebird bio shareholders now face a revised offer from potential acquirers Carlyle and SK Capital Partners. The amended deal presents two options: the original offer of $3 per share plus rights to an additional $6.84 if sales milestones are met, or a straightforward $5 per share. The tender deadline has been extended to May 29, with Bluebird's board urging acceptance to avoid potential default risks.

Clinical Trial Advancements and Regulatory Updates

Cytokinetics reported positive Phase 3 results for aficamten in obstructive hypertrophic cardiomyopathy, outperforming beta blockers. The drug is currently under FDA review, with a decision expected by late December. If approved, aficamten will compete with Bristol Myers Squibb's Camzyos, which generated $602 million in sales last year.

BridgeBio Pharma has initiated a groundbreaking Phase 3 trial for Attruby, aiming to prevent or delay the onset of transthyretin amyloidosis in genetically predisposed individuals. This marks the first attempt to use a therapeutic prophylactically for this condition.

Financial Struggles and Industry Consolidation

Cancer drug developer Affimed has filed for insolvency, citing "substantial doubt" about its ability to continue operations. The company's shares will be suspended from Nasdaq trading starting May 20. Despite efforts to secure additional funding or partnerships, Affimed has been unsuccessful, with its last reported cash holdings at 24 million euros as of September 30, 2024.

In a separate development, shareholders of Acelyrin and Alumis have approved a merger between the two biotechnology companies. The deal, set to close in the second quarter of 2025, will see Alumis shareholders owning 52% of the combined entity, with Acelyrin shareholders holding the remaining 48%. This merger concludes a complex negotiation process that included an unsolicited bid from Tang Capital and pressure from Trium Capital for Acelyrin to liquidate its assets.