Menarini Group, an Italian drug and diagnostics company has agreed to acquire Stemline Therapeutics in a deal valued at up to $677 million.
U.S.-based Stemline is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel oncology therapeutics. Stemline's Elzonris was approved by the FDA in December 2018 for the treatment of blastic plasmacytoid dendritic cell neoplasm (BPDCN) — a rare and aggressive hematologic malignancy of the bone marrow and blood.
With the support of Menarini’s infrastructure, Stemline will continue its efforts to develop additional applications of Elzonris to serve the unmet needs of patients suffering from difficult to treat diseases and cancers. Menarini plans to use its experience in bringing products to markets in Europe and emerging markets to help prepare Elzonris for a successful international launch upon receipt of regulatory approval in ex-U.S. territories.
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