Bristol Myers Squibb Acquires Turning Point Therapeutics for $4.1 Billion

Bristol Myers Squibb (BMS) announced their $4.1 billion acquisition of Turning Point Therapeutics, a clinical-stage precision oncology company, on June 3, 2022. The acquisition grants BMS access to the company's oncology pipeline and lead candidate, repotrectinib.

Repotrectinib is a tyrosine kinase inhibitor designed to target proto-oncogene tyrosine-protein kinase ROS (ROS1) and neurotrophic tyrosine receptor kinase, oncogenic drivers of non-small cell lung cancer (NSCLC) and other advanced solid tumors. According to a BMS press release, the Phase I/II TRIDENT-1 clinical trial found a longer duration of response with repotrectinib versus existing ROS1 agents in first-line NSCLC.

“Today’s news builds upon our long legacy of pioneering next-generation medicines for patients with cancer,” said Samit Hirawat, chief medical officer, global drug development, BMS, in the press release. “With repotrectinib, we have the opportunity to change the standard of care and address a significant unmet medical need for ROS1-positive non-small cell lung cancer patients.”

“Through this transaction, we will be able to harness the full potential of our precision oncology platform to advance the standard of care for cancer patients,” said Athena Countouriotis, president and CEO, Turning Point Therapeutics, in the press release. “With Bristol Myers Squibb’s leadership in oncology, strong commercial capabilities and manufacturing footprint, we will be able to further accelerate the pace at which we can bring our novel medicines to benefit people diagnosed with cancer around the world.”

Repotrectinib has received three breakthrough therapy designations from FDA. According to the release, BMS expects it to be approved in the United States in the second half of 2023.

Source: Bristol Myers Squibb