AstraZeneca will acquire Kartos Therapeutics for up to $1.75 billion.

Ipsen announced on Monday that it has agreed to acquire Kartos Therapeutics for up to $1.75 billion, aiming to strengthen the French pharmaceutical company's cancer drug pipeline. Ipsen stated that under the agreement, the company will pay $450 million upfront to acquire Kartos, with up to an additional $1.3 billion in payments dependent on regulatory and sales targets. Ipsen stated that acquiring the privately-held Kartos will bring navtemadlin into its late-stage oncology pipeline. The candidate drug is used to treat bone marrow fibrosis, a rare blood cancer, and is currently in late-stage clinical trials. The company added that the deal is expected to be completed by the end of the third quarter, subject to customary closing conditions.