Mirum Pharmaceuticals (NASDAQ:MIRM) announced the successful closing of its acquisition of Bluejay Therapeutics, a move that significantly broadens its rare disease pipeline with a potential first-in-class therapy for chronic hepatitis delta virus (HDV).
The centerpiece of the deal is brelovitug, a fully human monoclonal antibody currently in late-stage development.
HDV is recognized as the most severe form of viral hepatitis, often leading to rapid cirrhosis and liver failure, yet it remains a condition with no FDA-approved treatments in the United States.
Brelovitug has already secured Breakthrough Therapy designation from the FDA and PRIME designation from the EMA.
Under the finalized terms, Mirum acquired Bluejay for an upfront payment of $620 million, consisting of $250 million in cash and $370 million in Mirum common stock.
Bluejay shareholders also stand to receive up to $200 million in additional tiered, sales-based milestone payments.