Bristol Myers Squibb has announced it will acquire MyoKardia for $13.1 billion, in a deal designed to bolster BMS' cardiovascular franchise.
The big selling point for MyoKardia, a clinical-stage biotechnology company based in California, is their promising pipeline drug, mavacamten. In May, MyoKardia announced that the experimental drug for obstructive hypertrophic cardiomyopathy had met all of its phase 3 primary and secondary endpoints. The drugmaker planned to file for FDA approval of mavacamten in the first quarter of 2021.
The potential first-in-class cardiovascular medicine, as well as MyoKardia's pipeline of targeted therapies for the treatment of serious cardiovascular diseases, will strengthen BMS's cardiovascular portfolio now driven by oral anticoagulant Eliquis.
The deal has been approved by the boards of both companies and is expected to close in the fourth quarter of 2020.
Read the press release