Bluejay Therapeutics, a biotechnology startup making a treatment for hepatitis D, is set to be acquired by rare disease drugmaker Mirum Pharmaceuticals in a deal that could be worth as much as $820 million, the

Bluejay Therapeutics是一家正在研发丙型肝炎治疗方法的生物技术初创公司，罕见病制药商Mirum Pharmaceuticals计划以高达8.2亿美元的价格收购该公司，

companies announced Monday.

公司周一宣布。

Under the terms of the deal, Mirum will pay $250 million in cash and hand Bluejay equity holders $370 million worth of its common stock at about $71 per outstanding share. Bluejay’s backers, which include Frazier Life Sciences, RA Capital Management and others, could receive another $200 million in sales-based milestones. .

根据协议条款，Mirum将支付2.5亿美元现金，并向Bluejay的股东提供价值约3.7亿美元的普通股，每股价格约为71美元。Bluejay的支持者包括Frazier Life Sciences、RA Capital Management等，他们还可能获得另外2亿美元的基于销售的里程碑付款。

At the center of the acquisition is brelovitug, an antibody drug Bluejay brought into human testing for chronic hepatitis B and D infections.

收购的核心是 brelovitug，这是一种抗体药物，Bluejay 已将其投入针对慢性乙型和丁型肝炎感染的人体试验。

Brelovitug

布雷洛维图格

targets the surface antigen both viruses use to access liver cells, helping effectively clear them and other infectious particles from the body.

靶向两种病毒用来进入肝细胞的表面抗原，有助于有效清除它们及其他传染性颗粒。

Bluejay

蓝松鸦

initially prioritized developing the drug for hepatitis B

最初优先开发用于乙型肝炎的药物

, and advanced that, as well as a few other prospective “functional cures” for hepatitis B, into a mid-stage trial. But therapy is now further along as a possible treatment for hepatitis D, the most severe form of viral hepatitis. Results from a Phase 3 study are expected in the second half of 2026. .

，并将该药物以及另外几种潜在的“功能性治愈”乙肝药物推进到中期试验阶段。但现在这种疗法作为治疗最严重病毒性肝炎——丁型肝炎的可能疗法，进展更为深入。三期研究的结果预计在2026年下半年出炉。

“Brelovitug has the potential to redefine HDV treatment, and

“Brelovitug 有潜力重新定义 HDV 治疗，而且

Mirum’s

米鲁姆的

rare disease leadership, commitment to rare liver communities and commercialization expertise make it the right company to carry this program forward globally,”

“罕见病领域的领导力、对罕见肝病群体的承诺以及商业化专业知识，使其成为在全球推动该项目的合适公司。”

Keting

庭柯

Chu, Bluejay’s founder and CEO, said in a statement.

周，Bluejay的创始人兼首席执行官，在一份声明中表示。

Mirum

奇迹

will “evaluate strategic options” for

将“评估战略选项”用于

Bluejay’s

蓝松鸦的

other programs

其他程序

, which include a preclinical prospect for the liver disease MASH, after the deal’s close. It’s raising $200 million in a private stock offering alongside the acquisition.

其中包括在交易完成后对肝脏疾病MASH的临床前前景。此次收购的同时，它还通过私人股票发行筹集了2亿美元。

Mirum

奇迹

brought its first drug, Limvarli, to market in 2021 for a kind of itching associated with a rare liver disease. It’s since added to its portfolio through a 2023 deal with

2021年，该公司推出了首款药物Limvarli，用于治疗一种与罕见肝病相关的瘙痒。此后，通过2023年的一笔交易，公司进一步扩充了其产品组合。

Travere Therapeutics

旅行者治疗公司

that involved the drugs Cholbam, Chenodal and Ctexli, the last of which

其中涉及Cholbam、Chenodal和Ctexli这三种药物，其中最后一种

was approved by regulators in February

于二月获得监管机构批准

. Mirum has another liver disease treatment called

。米勒姆还有另一种肝脏疾病治疗方法，称为

volixibat

伏利昔巴特

in testing for primary sclerosing cholangitis and primary biliary cholangitis.

在检测原发性硬化性胆管炎和原发性胆汁性胆管炎时。

In a Monday note to clients,

在周一给客户的报告中，

Leerink

里尔金克

Partners analyst Mani Foroohar wrote that the Bluejay deal “lands in [

合作伙伴分析师马尼·福鲁哈写道，Bluejay 交易“落地在 [

Mirum’s

米鲁姆的

] sweet spot of late-stage/commercial rare liver disease assets,” and called it “good capital deployment” by the company.

“晚期/商业罕见肝病资产的甜蜜点”，并称其为公司的“良好资本部署”。

Bluejay, meanwhile,

与此同时，蓝鸟

raised $61 million

筹集了6100万美元

across a pair of venture capital rounds in 2020 and 2022 and added another $182 million via a

跨越了2020年和2022年的两轮风险投资，并通过一项举措又增加了1.82亿美元，

Series C last year

去年的C系列

.

。