Sobi Completes $1.7-Bn Acquisition of CTI BioPharma
Swedish Orphan Biovitrum (Sobi), a Stockholm, Sweden-based bio/pharmaceutical company developing drugs for rare diseases, has completed its $1.7-billion acquisition of CTI BioPharma, a Seattle, Washington-based bio/pharmaceutical company developing drugs for blood-related cancers. The companies had announced the acquisition in May (May 2023).
CTI’s lone commercial product is Vonjo (pacritinib), which is FDA-approved for treating intermediate or high-risk primary or secondary myelofibrosis, a rare form of a bone marrow disorder in adult patients who have platelet (blood-clotting cells) levels below 50,000/µL. The drug was granted accelerated approval by the FDA in 2022. CTI has approximately 144 employees and had 2022 revenues of approximately $54 million. CTI is now a wholly owned subsidiary of Sobi.