frazier healthcare partners

Blueprint Medicines to buy cancer drug startup with potential edge over Takeda, J&J targeted therapies

Blueprint Medicines is paying $250 million up front to acquire Lengo Therapeutics, developer of targeted cancer therapies. The startup’s lead drug candidate is on track to begin human testing in non-small cell lung cancer, and Blueprint believes the small molecule has advantages over new targeted therapies from Johnson & Johnson and Takeda Pharmaceutical.

Imago raises $80M to further studies of its treatment for blood and bone-marrow disorders

The San Francisco-based company aims to complete at least one Phase III study by 2025, and it is weighing an IPO next year to fund more.