Menarini acquires the U.S. biopharmaceutical company Stemline Therapeutics, focused on the development and commercialization of novel oncology therapeutics. The transaction for this Company – previously listed on Nasdaq – was already announced in early May 2020 and then completed in early June for an aggregate cash consideration up to $ 677 million.
Menarini in America
In 2016, a door on the American market opens for Menarini, thanks to the acquisition of CELLSEARCH® business, based in Philadelphia. Today the step is even more important: Menarini Group establishes its presence in the U.S. biopharmaceutical oncology market.
A breakthrough in the oncology field
Stemline Therapeutics Inc. – founded in 2003 and based in New York – is focused on development and marketing of innovative cancer therapies; thanks to that, Menarini will widen its oncology offer with the ELZONRIS® product (tagraxofusp).
ELZONRIS is a novel targeted therapy directed to CD123, approved by the U.S. Food and Drug Administration (FDA) and commercially available in the U.S. for the treatment of adult and pediatric patients – two years or older – with BPDCN.
Stemline’s team is made up of high-profile scientists and researchers working with the aim of improving the quality of life of cancer patients, thanks to the use of innovative therapies. This is an additional wealth for Menarini Group team of researchers, which has grown exponentially in recent years and is committed to Research and Development: from the initial stages of new projects to the registration of the drug.
A great accomplishment for Menarini Group
Lucia and Alberto Aleotti – shareholders and members of Menarini Board – declare themselves enthusiastic because the United States has always been an important target for Menarini. “Already with our father, many years ago, we were waiting to size the right opportunity,” they comment. “Thanks to the experience of CEO Elcin Barker Ergun in the overseas pharmaceutical sector, a solid company such as Stemline was identified, perfect for Menarini‘s entry into the American market. ”
And so Elcin Barker Ergun expresses great satisfaction on behalf of the whole team for this important achievement: “We are very excited to complete the acquisition of Stemline and to welcome their accomplished team to Menarini. The addition of ELZONRIS, which has potential to treat many other malignancies, as well as the other attractive pipeline assets augments our research and development capabilities and will accelerate our efforts to deliver novel oncology therapeutics to patients in need.”