VC-backed Kartos sells to Ipsen in backloaded agreement: Deals Report

Privately held Kartos’ quiet advancement of an in-licensed myelofibrosis program over the past 10 years has culminated in a takeout by Ipsen, rewarding shareholders with $450 million up front and the promise of more payouts tied to milestones.

The deal, announced Monday, gives  Ipsen Group (Euronext:IPN; Pink:IPSEY) MDM2 inhibitor navtemadlin (KRT-232), a Phase III program Kartos Therapeutics Inc. has advanced largely outside the spotlight. The molecule is in the POIESIS study to treat myelofibrosis in patients who have had a suboptimal response to JAK-1/JAK-2 inhibitor Jakafi ruxolitinib. It has already shown an effect on spleen volume in the Phase III BOREAS trial, among other studies...