Blueprint To Buy Privately Held Lengo For Up To $465 Mln

(RTTNews) - Blueprint Medicines Corporation (BPMC), said on Monday that it inked a definitive agreement to acquire Lengo Therapeutics, a privately held precision oncology firm, for $250 million in cash and up to $215 million in additional potential payments.

The additional potential payments are based on the accomplishment of certain regulatory approvals and sales-based targets, the acquirer said in a statement.

"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," commented Jeff Albers, Chief Executive Officer of Blueprint Medicines.

The Massachusetts-headquartered Blueprint Medicines expects the acquisition to close in the last quarter of 2021.

The acquisition also includes Lengo Therapeutics' lead compound LNG-451, an oral precision therapy in development for the treatment of non-small cell lung cancer (NSCLC) in patients with EGFR exon 20 insertion mutations.

Lengo expects to submit an investigational new drug (IND) application for LNG-451 to the U.S. Food and Drug Administration (FDA) in December.