LONDON : GlaxoSmithKline (GSK) has agreed to acquire BP Asset IX, Inc., a subsidiary of Boston Pharmaceuticals, in a deal worth up to $2 billion to gain access to efimosfermin, a potential treatment for steatotic liver disease (SLD), the companies announced Wednesday.
Under the terms of the agreement, GSK will pay $1.2 billion upfront, with up to $800 million in success-based milestone payments. The British pharmaceutical giant will also be responsible for additional milestone payments and tiered royalties owed to Novartis Pharma AG for efimosfermin.
The transaction, which GSK will account for as a business combination, is subject to customary regulatory approvals, including clearance under the Hart-Scott-Rodino Act in the United States.
Efimosfermin, a fibroblast growth factor 21 (FGF21) analog, is in development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH) and alcohol-related liver disease (ALD), both forms of SLD. It has demonstrated potential to address advanced stages of liver disease, with opportunities for combination therapy using GSK’s investigational drug, GSK’990.
Tony Wood, Chief Scientific Officer at GSK, said the acquisition reinforces the company’s commitment to liver disease research.
“The FGF21 class has shown some of the most exciting data in MASH, including first-in-disease evidence of cirrhosis reversal. Efimosfermin has the potential to set a new standard of care with its monthly dosing and tolerability profile,” Wood said in a statement.
Boston Pharmaceuticals Chairman Elias Zerhouni hailed the agreement, noting the company’s commitment to developing new therapies for patients with liver diseases.
“We are delighted that GSK recognized efimosfermin’s potential to address a growing global public health concern,” Zerhouni said.
GSK expects the first commercial launch of efimosfermin in 2029.