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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