Royalty Pharma completed the acquisition of Gavreto from Blueprint Medicine for $340m.

Royalty Pharma, a private equity firm, completed the acquisition of Gavreto, a cancer medicine for treating adults with advanced non-small cell lung cancer, from Blueprint Medicine, a company which engages in the discovery and development of highly selective kinase inhibitors for genomically defined cancer subsets, for $340m. “We are pleased to partner with Blueprint and help advance their innovative precision therapy pipeline for the benefit of patients worldwide. Precision therapies continue to transform the treatment paradigm in oncology and acquiring a royalty on Gavreto aligns with our strategy of investing in differentiated therapies that address unmet medical needs. Gavreto has shown consistent outcomes with deep and durable responses across several RET-altered cancers, and we look forward to its clinical development in additional tumor types and earlier-stage patients,” Pablo Legorreta, Royalty Pharma Founder and Chief Executive Officer.