UPDATED: MorphoSys swoops in with a $1.7B deal to buy Constellation, adds $2B-plus in Royalty pact
Germany’s MorphoSys has swooped in to buy cancer drug developer Constellation $CNST in a deal that values the company at $1.7 billion. And they’re funding the deal, and the work ahead, with a pact with Royalty Pharma worth more than $2 billion.
MorphoSys is paying $34 a share for the Cambridge, MA-based Constellation, bagging 2 lead drugs: pelabresib (CPI-0610), billed as a potential first and best-in-class BET inhibitor, and CPI-0209, a second-generation EZH2 inhibitor, that is in mid-to late-stage development.
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