The transaction includes Agios' marketed medicine Tibsovo and its oncology pipeline of Phase 3 and early-stage assets
Servier has agreed with US-based Agios Pharmaceuticals to acquire the latter’s oncology business, including the commercial, clinical and research-stage oncology portfolio, for up to $2bn.
Under the terms of the agreement, Servier will make an upfront payment of $1.8bn, and an additional $200m in potential regulatory milestone, plus royalties.
The transaction is expected to be completed in the second quarter of 2021, subject to receipt of regulatory and Agios’ shareholders’ approvals.
The French pharmaceutical firm said that the acquisition is in-line with its strategy, and will strengthen its product portfolio and drug development pipeline in oncology.
Servier president Olivier Laureau said: “The strategic acquisition of Agios’ oncology business, including its precision medicine portfolio and pipeline, is aligned with our ambition to become a recognized player in oncology and further supports our commitment to provide innovative treatments to cancer patients with unmet medical needs.
“It is a key step for the Servier Group as it will significantly strengthen our position in the U.S. and reinforce our R&D capabilities in oncology. We look forward to welcoming the experienced Agios oncology teams to Servier following the closing.”
As part of the acquisition, Agios will transfer its oncology portfolio and related employees, including its marketed medicine Tibsovo.
Tibsovo is approved in the US as monotherapy for the treatment of adults with IDH1-mutant relapsed or refractory acute myeloid leukemia (AML).
Also, the drug is approved for adults with newly diagnosed IDH1-mutant AML who have comorbidities that prevent the use of intensive induction chemotherapy.
Tibsovo is currently being studied in two Phase 3 combination trials in newly diagnosed AML, and for previously treated IDH1-mutant cholangiocarcinoma and IDH1-mutant myelodysplastic syndrome (MDS).
Servier will also obtain co-commercialisation rights for Bristol Myers Squibb’s IDHIFA (enasidenib) from Agios, and conduct certain clinical development activities.
Furthermore, the company will acquire Agios’ oncology pipeline and clinical programs, including brain-penetrant dual inhibitor vorasidenib, MAT2A inhibitor AG-270, and DHODH inhibitor AG-636 and Agios’ oncology research programmes.
Agios chief executive officer Jackie Fouse said: “The sale of our oncology portfolio to Servier is a transformational milestone for Agios. We are proud of our heritage in oncology and the novel therapies we have advanced for patients with hematologic malignancies and solid tumours.
“Servier is committed to the oncology patient community and to investing in our assets and our people. This transaction will allow the oncology portfolio to grow and thrive with Servier.”