French biotech firm Ipsen announced Monday that it has agreed to acquire U.S.-based Kartos Therapeutics in a $450 million deal aimed at strengthening its lineup of cancer treatments.
The purchase gives Ipsen access to navtemadlin, an experimental oral drug currently being tested in a Phase III clinical trial targeting myelofibrosis, a rare form of blood cancer.
Under the terms of the agreement, Kartos shareholders could receive up to $1.3 billion in additional payments depending on whether the therapy meets certain regulatory approval and sales benchmarks.
Early results from the ongoing clinical trial are anticipated in 2027, which could potentially open the door for the treatment to reach the market as soon as 2028.
Ipsen indicated the deal is expected to positively impact its core operating income beginning in 2029.
The transaction is projected to close by the end of the third quarter of this year, pending antitrust regulatory approval.
