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Blueprint Medicines (BPMC) Acquiring Lengo Therapeutics for $250 Million Plus Additional Milestone-Contingent Payments

Monday, November 29, 2021 10:27 AM | Carl Pettit

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Blueprint Medicines (BPMC) Acquiring Lengo Therapeutics for $250 Million Plus Additional Milestone-Contingent Payments

On Nov. 29, Blueprint Medicines (BPMC) announced that it will acquire the privately held precision oncology firm Lengo Therapeutics for “$250 million in cash plus up to $215 million in additional potential payments based on the achievement of certain regulatory approval and sales-based milestones.”

As of 10:16 am EST today, BPMC stock fell 2.55% in value.

LNG-451 Investigational New Drug Application

With the purchase of Lengo Therapeutics, Blueprint Medicines will be expanding its lung cancer therapy portfolio. Lengo Therapeutics brings with it the company’s LNG-451 compound, which, according to a press release, is “a potential best-in-class oral precision therapy in development for the treatment of non-small cell lung cancer (NSCLC) in patients with EGFR exon 20 insertion mutations.”

Lengo Therapeutics plans on submitting an investigational new drug application for LNG-451 to the U.S. Food and Drug Administration sometime in December 2021.

CEO Comments

"Our acquisition of Lengo Therapeutics deepens our commitment to advancing precision oncology therapies and specifically expands our opportunity to transform treatment for patients with EGFR-driven lung cancer," Blueprint Medicines CEO Jeff Albers said regarding the acquisition deal.

Short-Term Technical Rank - 70

BPMC has a Short-Term Technical Rank of 70. Find out what this means to you and get the rest of the rankings on BPMC!

Blueprint Medicines Corp is a biopharmaceutical company. It is focused on improving the lives of patients with diseases driven by abnormal kinase activation. The company has developed a small molecule drug pipeline in cancer and a rare genetic disease. Its drug candidates BLU-285, which targets KIT Exon 17 mutants and PDGFRa D842V, abnormally active receptor tyrosine kinase mutants that are drivers of cancer and proliferative disorders. Its other drug candidate is BLU 554 FOR Advanced Hepatocellular Carcinoma, and BLU-667 for Ret Mutations, Fusions, and Predicted Resistant Mutants.

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