BMS Acquires Turning Point Therapeutics for $3.2 BnBy
Bristol-Myers Squibb (BMS) has completed its acquisition of Turning Point Therapeutics, a San Diego, California-based clinical-stage bio/pharmaceutical company focused on oncology, for $3.2 billion. The companies had announced the acquisition in June (June 2022).
Turning Point Therapeutics has a pipeline of investigational medicines designed to target the most common mutations associated with oncogenesis or the development of tumors. The company’s lead asset, repotrectinib, is a tyrosine kinase inhibitor targeting the ROS1 and NTRK oncogenic drivers of non-small cell lung cancer (NSCLC) and other advanced solid tumors. Repotrectinib was granted three breakthrough therapy designations from the US Food and Drug Administration.
BMS says expects repotrectinib to be approved in the US in the second half of 2023 and become a new standard of care for patients with ROS1-positive NSCLC in the first-line setting.
Source: Bristol-Myers Squibb