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MorphoSys to buy Constellation Pharma in a $1.7B bet on epigenetic cancer drugs


MedCity News
MorphoSys to buy Constellation Pharma in a $1.7B bet on epigenetic cancer drugs
MorphoSys is acquiring Constellation Pharmaceuticals and its late-stage myelofibrosis drug in a deal that values the epigenetics biotech at $1.7 billion. Germany-based MorphoSys will finance the acquisition with cash from a separate $2 billion deal with drug royalty acquirer Royalty Pharma.
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MorphoSys, a biotech that has spent much of its three-decade history developing drugs that ended up at other companies via partnerships or licensing deals, is now building up its own pipeline through a $1.7 billion acquisition of Constellation Pharmaceuticals.
Constellation will bring to MorphoSys clinical-stage drugs and expertise in epigenetics, the study of turning genes on or off without altering the genetic code. That research has yielded a Phase 3 drug candidate for a rare blood cancer, as well as another compound in mid-stage testing with the potential to brin ....

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