The acquisition encompasses key assets such as pelabresib, a promising late-stage BET inhibitor for myelofibrosis (MF), and tulmimetostat, an early-stage investigational dual inhibitor targeting solid tumors or lymphomas.

Pelabresib's recent Phase 3 MANIFEST-2 study showcased its efficacy in reducing spleen volume and improving symptoms in MF patients when combined with ruxolitinib. This combination therapy presents a potential groundbreaking first-line treatment option for myelofibrosis, with a regulatory filing planned for the latter half of 2024.

Dr. Shreeram Aradhye, President of Development and Chief Medical Officer at Novartis, expressed enthusiasm about the acquisition, emphasizing the potential of pelabresib in addressing the unmet needs of individuals battling myelofibrosis.

The transaction underscores Novartis' commitment to advancing innovative therapies in oncology and strengthens its position in hematology. Pending regulatory approvals and a minimum acceptance threshold of 65% of outstanding shares, the acquisition is expected to conclude in the first half of 2024, with MorphoSys AG continuing to operate independently until then.