Vertex will buy Alpine Immune Sciences for $4.9B in another big Seattle biotech deal

Core Viewpoint - Vertex Pharmaceuticals has agreed to acquire Alpine Immune Sciences for $4.9 billion, representing a 38% premium over Alpine's recent stock price, highlighting the growing trend of significant acquisitions in the biotech sector [2][3]. Company Overview - Alpine Immune Sciences specializes in developing immunotherapies targeting cancer, kidney disease, and other serious autoimmune and inflammatory conditions by engineering proteins that modulate the immune response [2]. - The company was founded in 2015 and went public in 2017 through a merger with Nivalis, raising additional funds including $91 million in 2021 from investors like Frazier Healthcare Partners [4]. Acquisition Details - The acquisition deal is valued at $65 per share, totaling approximately $4.9 billion in cash, with a 38% premium over Alpine's closing price on Wednesday [2]. - The premium was higher at 67% based on Alpine's closing price on Tuesday, but the stock surged 21% on Wednesday following news of the potential sale [2]. - The acquisition is expected to close in the second quarter of the following year, with both companies' boards unanimously approving the transaction [3]. Product Pipeline - A key product in Alpine's pipeline is povetacicept (ALPN-303), aimed at treating autoimmune and inflammatory diseases, which is set to enter Stage 3 clinical trials in the latter half of the year [3]. - As of the end of 2023, Alpine had 142 employees, with a significant focus on research and development [3].