Bristol Myers Squibb (BMS) has completed the acquisition of clinical-stage biopharmaceutical company MyoKardia for $13.1bn.
With the closing of the deal, MyoKardia now operates as a wholly-owned subsidiary of BMS.
The deal provides BMS with MyoKardia’s mavacamten, which is a potential first-in-class cardiovascular medicine to treat obstructive hypertrophic cardiomyopathy (HCM).
Based on data from the EXPLORER-HCM study, the new drug application (NDA) for mavacamten to treat symptomatic obstructive HCM is expected to be submitted to the US Food and Drug Administration in the first quarter of 2021.
BMS is also planning to evaluate the full potential of mavacamten in additional indications, including non-obstructive HCM.
The company is also planning to develop MyoKardia’s novel compounds, including two clinical-stage therapeutics such as danicamtiv and MYK-224 and two pre-clinical assets such as ACT-1 and LUS-1.
BMS CEO and board chair Dr Giovanni Caforio said: “We are excited to welcome MyoKardia colleagues to Bristol Myers Squibb. The MyoKardia team has revolutionized cardiovascular treatments to address significant unmet medical needs, and we look forward to helping more patients together.
“With MyoKardia, we are bolstering our leading cardiovascular franchise and adding exceptional scientific capabilities, a potentially transformative new medicine with significant commercial potential and a promising pipeline of candidates.”
Gordon Dyal serving as exclusive financial advisor to BMS, while Kirkland & Ellis is acting as legal counsel.
Centerview Partners and Guggenheim Securities are serving as joint financial advisors to MyoKardia, while Goodwin Procter is acting as legal counsel
In August this year, BMS signed an agreement to acquire clinical-stage protein engineering company Forbius for an undisclosed sum.
Forbius is engaged in the designing and development of advanced biotherapeutics to treat cancer and fibrotic diseases.