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A $1.7B all-cash acquisition that gave Sobi the FDA-approved myelofibrosis drug Vonjo, with sales climbing from SEK 322M to SEK 416M within a year of close. The confirmatory PACIFICA trial is still running, though, leaving Vonjo's accelerated approval unresolved until at least October 2026.
Sobi to acquire CTI BioPharma in $1.7 billion deal for VONJO pacritinib for myelofibrosis.
Vonjo Q4 2024 sales SEK 416 M (vs SEK 322 M Q4 2023).
PACIFICA confirmatory Phase 3: ACTIVE_NOT_RECRUITING; primary completion 2026-10-05; study completion 2028-10-13; updated 2026-04-30.
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Swedish Orphan Biovitrum (Sobi) acquired CTI BioPharma for $9.10 per share in cash (~$1.7 billion), gaining Vonjo (pacritinib), an FDA-approved JAK2/IRAK1 inhibitor for myelofibrosis with severe thrombocytopenia (platelets <50x10^9/L). The all-cash tender closed 22 Sep 2023. Post-close, Vonjo has outgrown the niche framing: Sobi reported Vonjo sales of SEK 416 M in Q4 2024 (up from SEK 322 M in Q4 2023) and SEK 306 M in Q1 2025. The core thesis risk is unresolved: Vonjo remains under accelerated approval, and the confirmatory PACIFICA Phase 3 trial (NCT03165734) is still active with primary completion expected October 2026 — continued approval is contingent on its outcome.
Pacritinib (Vonjo) is a selective JAK2/IRAK1/ACVR1 inhibitor approved by FDA in 2022 for myelofibrosis with thrombocytopenia (platelets <50x10^9/L); for AML arising from prior MDS (sAML/MDS-derived AML), pacritinib is not approved and the commercial relevance is limited to off-label and co-morbid MF-to-AML progression. The competitive landscape groups by MOA class: hypomethylating agent (HMA) backbones, BCL-2 inhibitors, IDH-targeted inhibitors, FLT3 inhibitors, and menin inhibitors. In the HMA class, Otsuka/Astex's Onureg (CC-486 oral azacitidine, approved 2020 for AML maintenance) and Bristol Myers Squibb's Vidaza (azacitidine, generic) and Taiho's Dacogen (decitabine, generic) anchor unfit-AML induction. In the BCL-2 class, AbbVie/Roche's Venclexta (venetoclax) combined with azacitidine is the standard of care for unfit/elderly AML, generating approximately $2.6B 2024 sales and redefining MDS-to-AML transition therapy. In IDH-targeted, Servier's Tibsovo (ivosidenib, IDH1m, approved AML and MDS) and Rigel/Forma's Rezlidhia (olutasidenib, IDH1m) compete in IDH1-mutant sAML; Servier's Idhifa (enasidenib, IDH2m) is withdrawn. In FLT3 inhibitors, Astellas' Xospata (gilteritinib) and Novartis' Rydapt (midostaurin) serve FLT3-mutant disease. In menin inhibitors, Syndax/Kura Oncology's revumenib and ziftomenib are emerging for KMT2A-rearranged/NPM1-mutant AML. Commercial takeaway: pacritinib has no meaningful franchise in sAML; Sobi's thesis sits in myelofibrosis, not this indication.
Sobi acquired CTI BioPharma for $1.7B ($9.10/share), gaining Vonjo (pacritinib), FDA-approved JAK2/FLT3 inhibitor for myelofibrosis with severe thrombocytopenia.
Vonjo grew well beyond initial expectations post-close: Sobi reported Vonjo sales of SEK 416 M in Q4 2024 (vs SEK 322 M Q4 2023) and SEK 306 M in Q1 2025 — a solid, durable rare-disease contributor, though still modest relative to the $1.7B price.
Vonjo remains under FDA accelerated approval. The confirmatory Phase 3 PACIFICA trial (NCT03165734) is active (not recruiting) with primary completion expected October 2026 and study completion October 2028 — the key outstanding risk to continued approval is unresolved.
Vonjo fills specific unmet need for thrombocytopenic MF patients. Revenue modest relative to $1.7B but Sobi has strong rare disease capabilities.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Swedish Orphan Biovitrum AB / CTI BioPharma Corp. (this deal) | 2023 | $1.7B | 60 |
| Swedish Orphan Biovitrum AB / Biovitrum | 2001 | $493M | 84 |
| Swedish Orphan Biovitrum AB / AstraZeneca PLC (Synagis US rights) | 2018 | $2.3B | 80 |
| Swedish Orphan Biovitrum AB / Innate Pharma SA | 2026 | $580M | 68 |
| Swedish Orphan Biovitrum AB / Arthrosi Therapeutics, Inc. | 2025 | $1.5B | — |
| Swedish Orphan Biovitrum AB / Apellis Pharmaceuticals, Inc. | 2020 | $1.0B | — |
| Amgen Inc. / Micromet Inc. | 2012 | $1.2B | 88 |
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