Blueprint Medicines Expands Precision Therapy With Lengo Therapeutics Acquisition

Blueprint Medicines Corporation BPMC has agreed to acquire Lengo Therapeutics, a privately held precision oncology company.

• The deal consideration includes $250 million in cash plus $215 million in additional potential milestone payments.
• The acquisition includes Lengo Therapeutics' lead compound LNG-451, a precision therapy in development to treat non-small cell lung cancer in patients with EGFR exon 20 insertion mutations. 
• Lengo Therapeutics anticipates submitting an investigational new drug application for LNG-451 to the FDA in December 2021.
• Blueprint Medicines anticipates the acquisition will close in Q4 of 2021.
• Related Link: Zai Lab Inks Back To Back Licensing Agreements For Cancer And Psychiatric Candidates.
• Price Action: BPMC shares are down 2.16% at $98.67 during the market session on the last check Monday.