Pierre Fabre Laboratories Completes Acquisition of Vertical Bio, Advancing Novel Targeted Therapy for Non-Small Cell Lung Cancer Patients with MET Alterations
Wednesday, September 13, 2023
Pierre Fabre Laboratories, the French pharmaceutical and dermo-cosmetic company, has announced its acquisition of Vertical Bio AG, a company specializing in the development of novel cancer therapies. This acquisition marks a significant step for Pierre Fabre Laboratories, as it allows them to incorporate VERT-002 into their oncology research pipeline. VERT-002 is a monoclonal antibody with a unique mechanism of action, functioning as a c-MET degrader, a target known for driving disease progression in Non-Small Cell Lung Cancer (NSCLC) patients with MET mutations or amplifications. The financial terms of the transaction have not been disclosed.
Vertical Bio AG was established with support from Versant Ventures and originated from the Ridgeline Discovery Engine in Basel, Switzerland. Leveraging Ridgeline's expertise in biology, Vertical Bio has advanced VERT-002 through preclinical studies and is progressing towards an Investigational New Drug (IND) submission. The commencement of human trials is anticipated in 2024.
This acquisition strengthens Pierre Fabre Laboratories' portfolio in precision oncology, aligning with its innovation strategy. The company has made oncology its top priority in medical care, dedicating approximately 80% of its annual R&D budget to this field. In 2022, the Oncology Franchise generated revenues of €467 million, marking a substantial 221% increase compared to 2019 revenues.
Pierre Fabre Laboratories has a long history of involvement in lung cancer treatment, with its initial chemotherapy product launch dating back to the 1990s. Earlier this year, the company entered into a collaboration agreement with Scorpion Therapeutics to jointly develop and commercialize two candidates for patients with EGFR-mutant NSCLC. Additionally, through its established partnership with Pfizer, Pierre Fabre Laboratories expects to harness the full potential of a promising clinical development program in NSCLC.
Eric Ducournau, Chief Executive Officer of Pierre Fabre Laboratories, expressed enthusiasm about the acquisition, stating, We are excited about the acquisition of this biotechnology company and the addition of VERT-002 to strengthen our research and development portfolio in lung cancer. This acquisition underscores our commitment to invest in the discovery and development of innovative treatments in precision oncology.
Alex Mayweg, Ph.D., Chairman of Vertical Bio and Managing Director at Versant, commented, We take pride in the rapid progress that Vertical Bio has made in developing its lead antibody, which represents a potential new option for patients with challenging forms of lung cancer. Pierre Fabre Laboratories are an ideal partner to advance VERT-002 into clinical trials, and we anticipate the continued advancement of this distinctive molecule.
VERT-002 is an antibody that targets c-MET, leading to its degradation. It holds significant promise as a leading therapeutic option for patients with MET alterations, including those facing resistance to existing treatments. Currently, VERT-002 is in the final stages of IND-enabling studies, with human trials expected to commence in 2024.
