GSK has completed its acquisition of the biopharmaceutical company Sierra Oncology, boosting its portfolio of oncology medicines.
The deal was announced back in April this year and sees GSK acquiring Sierra Oncology for a total of $1.9 billion. The acquisition will give GSK access to Sierra’s late-stage candidate momelotinib, which is being developed to treat myelofibrosis patients with anaemia.
Sierra Oncology has announced positive topline results from a phase III clinical trial investigating the drug in 195 patients. The study met all primary and key secondary endpoints, demonstrating that momelotinib achieved a statistically significant and clinically meaningful benefit on symptoms, splenic response, and anaemia.1
Sierra Oncology has submitted a New Drug Application to the US Food and Drug Administration (FDA) for momelotinib and is planning regulatory submission in Europe in the second half of 2022.
GSK says that the acquisition builds upon its strategy of developing a strong portfolio of specialty medicines and vaccines.
Luke Miels, Chief Commercial Officer, GSK, said: “This acquisition expands our innovative oncology portfolio, demonstrating our commitment to improving patient outcomes and creating value for shareholders. We now have a late-stage differentiated molecule in momelotinib, which could potentially address a significant unmet need in myelofibrosis patients with anaemia. Our focus is now on execution.”