French pharma giant acquires Basel based Vertical Bio

Vertical Bio is developing a novel antibody to treat certain forms of cancer. Its lead candidate VERT-002 is a monoclonal antibody with a novel and differentiated mechanism of action, acting as a degrader of c-MET. This target is a known disease driver in patients suffering from Non-Small Cell Lung Cancer (NSCLC) with mutations or amplification of MET. Leveraging Ridgeline's biology capabilities, Vertical Bio advanced VERT-002 through preclinical studies and towards an IND submission. The first-in-human studies are expected to begin in 2024.

Shortly after its launch, Vertical Bio got acquired by Pierre Fabre Laboratories, marking its first acquisition with the aim to further strengthen its R&D portfolio in precision oncology. The company will add VERT-002 to its oncology discovery pipeline. A leading French medical and beauty care company with over 4 decades of experience in innovation, development, manufacturing, and commercialization in oncology, Pierre Fabre Laboratories generated 2.7 billion euros in revenues in 2022, 69% of which came from international sales in 120 countries. In line with its innovation strategy, the Group has made oncology its top priority in medical care and dedicates every year circa 80% of its R&D spendings to this therapeutic area. In 2022, the Oncology Franchise achieved revenues of €467 M, a sharp 221% increase vs 2019 revenues. 

Pierre Fabre Laboratories have a long history in the treatment of lung cancers, dating back to the 90s with the launch of their first chemotherapy. Earlier this year, a collaboration agreement was signed with Scorpion Therapeutics to co-develop and commercialize two candidates for patients with EGFR-mutant NSCLC. And through its longstanding partnership with Pfizer, the company expects to harness soon the full potential of a promising clinical development program in NSCLC.

"We are excited about the acquisition of this biotechnology company and the addition of VERT-002 to reinforce our research and development portfolio in lung cancer. This acquisition is another testimony of our commitment to invest in the discovery and development of innovative treatments in precision oncology" said Eric Ducournau, Chief Executive Officer of Pierre Fabre Laboratories. 

"We are proud of the rapid progress that Vertical Bio made in developing its lead antibody, which represents a potential new option for patients with difficult-to-treat forms of lung cancer," said Alex Mayweg, Ph.D., chairman of Vertical Bio and managing director at Versant Ventures. "Pierre Fabre Laboratories are an ideal partner to take VERT-002 into the clinic and we look forward to the continued progress of this differentiated molecule."

Deal terms were not disclosed.

(Press release/RAN)