Menar­i­ni bags Stem­line and a rare dis­ease drug in $677M buy­out. But will a bet­ter of­fer fol­low?

Italy’s Menar­i­ni Group has struck a deal to buy Stem­line Ther­a­peu­tics $STML for $677 mil­lion, adding an FDA-ap­proved drug for a rare type of can­cer to the port­fo­lio as the ther­a­py an­gles for a broad­er OK in Eu­rope.

The drug — which tar­gets CD123 — is El­zon­ris, which the agency ap­proved for blas­tic plas­ma­cy­toid den­drit­ic cell neo­plasm due to cap­il­lary leak syn­drome on the ba­sis of a tiny pos­i­tive study.

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