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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