So­bi swoops in with $1.7B buy­out for a biotech with an ap­proved JAK in­hibitor, but low on cash

So­bi, the Swedish phar­ma spe­cial­iz­ing in rare dis­eases, is join­ing the M&A par­ty with a $1.7 bil­lion buy­out of CTI Bio­Phar­ma.

The crown jew­el of the deal is the JAK in­hibitor Von­jo, for which CTI se­cured an FDA ac­cel­er­at­ed ap­proval last year for a rare bone mar­row can­cer known as myelofi­bro­sis. So­bi is pay­ing $9.10 per share, a 89% pre­mi­um to CTI’s clos­ing stock price on Tues­day, ac­cord­ing to a press re­lease.

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