Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Mirum gains a hepatitis D drug in $620M buyout of startup Bluejay. Leerink Partners analyst Mani Foroohar noted that the Bluejay deal lands in Mirum's sweet…
Mirum's acquisition of Bluejay Therapeutics positions the rare liver disease specialist to become a global leader in hepatitis delta, a space with no…
Phase 2b portion of AZURE-1 met its primary composite endpoint (virologic response + ALT normalization) at Week 24; brelovitug was well tolerated with no…
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Mirum acquired Bluejay Therapeutics for $250M cash and $370M in Mirum stock ($620M upfront) plus up to $200M in sales-based milestones (total up to $820M), gaining worldwide rights to brelovitug (BJT-778), a Phase 3 fully human IgG1 monoclonal antibody with Breakthrough Therapy (FDA) and PRIME (EMA) designations for chronic hepatitis delta virus (HDV). The acquisition CLOSED January 23, 2026. On April 27, 2026, Mirum reported that the Phase 2b portion of the registrational AZURE-1 study met its primary composite endpoint (virologic response + ALT normalization) and was well tolerated, materially de-risking the program. Pivotal AZURE 24-week topline data remain expected 2H 2026 with a BLA targeted for 2027.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Mirum Pharmaceuticals, Inc. / Bluejay Therapeutics, Inc. (this deal) | 2025 | $820M | — |
| Pfizer Inc. / BioNTech SE | 2020 | $748M | 100 |
| Gilead Sciences Inc. / Pharmasset Inc. | 2011 | $11.2B | 98 |
| Abbott Laboratories / Alere Inc. | 2016 | $5.8B | 95 |
| bioMerieux SA / BioFire Diagnostics Inc. | 2013 | $485M | 88 |
| Roche Holding AG / Ventana Medical Systems Inc. | 2008 | $3.4B | 88 |
| AstraZeneca PLC / MedImmune Inc. | 2007 | $15.6B | 82 |
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