SAN FRANCISCO & PALO ALTO, Calif.—BridgeBio Pharma, Inc., a company focused on genetic diseases, and Eidos Therapeutics, Inc., a company focused on transthyretin (TTR) amyloidosis (ATTR), announced today that the companies have entered into a merger agreement. Eidos is developing acoramidis, a potential best-in-class TTR stabilizer, for patients with ATTR cardiomyopathy and polyneuropathy.
“ATTR is a rapidly progressive and fatal disease when left untreated, so we know that every moment counts for the patients and families we aim to serve. With Eidos fully reunited with BridgeBio, we intend to move as quickly as possible to advance acoramidis through the development process and, if approved, into the marketplace,” said Cameron Turtle, D.Phil., senior vice president of cardiorenal disease at BridgeBio.
BridgeBio has agreed to acquire all of the outstanding common stock of Eidos it does not already own, representing approximately 36.3 percent of Eidos’ outstanding shares. Eidos stockholders will have the right to receive either 1.85 shares of BridgeBio common stock or $73.26 in cash per Eidos share in the transaction, up to an aggregate maximum of $175 million of cash.
“With the completion of screening in the Phase 3 ATTRibute-CM study of acoramidis and expected enrollment of more than 600 participants, now is the time to begin laying the groundwork for a global launch,” noted Neil Kumar, Ph.D., founder and CEO of BridgeBio and CEO of Eidos. “This transaction removes the operational complexity of the current ownership structure and allows us to fully unlock the potential of this investigational medicine for patients and investors,”
“Bringing Eidos fully back to BridgeBio positions us to invest in all opportunities around acoramidis, including subsequent studies to potentially broaden the evidence for its usage, and accelerate its commercial development using BridgeBio’s established infrastructure. We are excited to welcome acoramidis back into an ecosystem where cutting-edge science is being done across inherited diseases and targeted oncology,” Kumar continued.
BridgeBio plans to invest in novel formulations and studies of acoramidis to maximize its long-term potential benefit to ATTR patients, as well as developing its commercial infrastructure. Eidos and acoramidis will become the keystone in BridgeBio’s growing cardiorenal portfolio, which includes drug development in autosomal dominant hypocalcemia type 1 and primary hyperoxaluria type 1, as well as undisclosed precision cardiology drug discovery programs.
In September, Eidos completed screening for its pivotal Phase 3 ATTRibute-CM clinical trial of acoramidis in patients with ATTR cardiomyopathy. The study is expected to enroll more than 600 subjects with either wild-type or variant TTR across more than 80 sites in 18 countries. Topline results from Part A of the ATTRibute-CM trial are expected in late 2021 or early 2022, and Part B results are anticipated in 2023. If Part A is successful, the company intends to file for regulatory approval of acoramidis in 2022.