Alpine Immune Sciences Acquisition, Valuation, Funding & Investors

Alpine Immune Sciences was acquired by Vertex Pharmaceuticals for $4.9B in April 2024, a 86.7x multiple on $57M of revenue.

Alpine Immune Sciences acquisition price

$4.9B

Acquired by Vertex Pharmaceuticals · Apr 2024

Alpine Immune Sciences revenue at acquisition

$57M

Last twelve months · Apr 2024

Alpine Immune Sciences revenue multiple at acquisition

86.7x

EV/Revenue · Apr 2024

Cumulative funding Alpine Immune Sciences raised

$49M

across 2 funding rounds

Alpine Immune Sciences Overview

About Alpine Immune Sciences

Alpine Immune Sciences is a Seattle-headquartered clinical-stage biopharmaceutical company that develops protein-based immunotherapies for autoimmune and inflammatory diseases through its proprietary directed evolution platform. Povetacicept targets BAFF and APRIL cytokines in phase 3 trials for IgA nephropathy and phase 2 for systemic lupus erythematosus. Acazicolcept functions as a dual ICOS and CD28 antagonist for additional autoimmune conditions. The company listed on Nasdaq under ALPN before its acquisition by Incyte in April 2024.


Founded

2015

HQ

United StatesSeattle, WA

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$57M (Apr 2024)

Valuation

$4.9B (acquired Apr 2024)

Alpine Immune Sciences Acquisition

Alpine Immune Sciences was acquired by Vertex Pharmaceuticals for $4.9B on 10 April 2024.

The acquisition price implies a 86.7x revenue multiple on $57M of revenue.

Before the acquisition Alpine Immune Sciences had raised $49M across 2 funding rounds.

Alpine Immune Sciences acquisition details
AcquirerDateTypePriceEV/Revenue
10 Apr 2024Strategic M&A$4.9B86.7x

Alpine Immune Sciences Funding History

Alpine Immune Sciences has raised a total of $49M across 2 funding rounds.

Alpine Immune Sciences' first fundraising round was a $1M seed round in January 2015. The most recent completed round was a $48M Series A in June 2016.

Alpine Immune Sciences funding rounds

Alpine Immune Sciences funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2016Series AOrbiMed (lead); Frazier Healthcare Partners; Alpine BioVentures$48MAlpine Immune Sciences, a Seattle-based biotechnology company founded in 2015, develops a next-generation immune system modulation platform using directed evolution of naturally occurring ligands to create therapeutics for cancer and autoimmune diseases via its vIgD™ platform. The company closed a $48 million Series A financing round on June 13, 2016, led by OrbiMed Advisors with participation from Frazier Healthcare Partners and Alpine BioVentures, which had provided seed funding. Mitch Gold, former Dendreon CEO and founder, serves as executive chairman and acting CEO, with Jay Venkatesan as president. The funding supports discovery and development of clinically meaningful therapeutics targeting immune synapse interactions to either enhance or suppress immune responses. Alpine's platform enables single molecules to interact with multiple targets simultaneously. In October 2015, the company signed a worldwide research and license agreement with Kite Pharma, receiving $5 million upfront for access to certain targets developed using the TIP™ platform, with potential milestones up to $530 million for CAR-T and T-cell receptor candidates. OrbiMed partner Peter Thompson and Frazier's Jamie Topper joined the board. The round positions Alpine to differentiate in the crowded immunotherapy field competing with checkpoint inhibitors and CAR-T therapies. Subsequent developments included an additional $17 million investment in 2016 from the same investors during a combination with Nivalis Therapeutics.
Jan 2015Seed-$1M-

Who has invested in Alpine Immune Sciences?

3 investors have backed Alpine Immune Sciences across its funding rounds, including OrbiMed, Frazier Healthcare Partners and Alpine BioVentures.

Lead investors include OrbiMed.


Alpine Immune Sciences Investors

Investors in Alpine Immune Sciences by funding rounds participated
InvestorHQRoundsRoleFirst check
Frazier Healthcare PartnersUnited StatesSeattle, WA1ParticipantJun 2016

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Acquisitions by Alpine Immune Sciences

Alpine Immune Sciences has acquired 1 company to date.

Last acquisition by Alpine Immune Sciences was on July 20th 2017. Alpine Immune Sciences acquired Nivalis Therapeutics for $90M.


Latest Acquisitions by Alpine Immune Sciences

Nivalis Therapeutics
Description
-
HQ CountryUnited States
HQ City
-
Deal Date20 Jul 2017
Valuation$90M
EV/Revenue
EV/EBITDA

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Alpine Immune Sciences Competitors

Alpine Immune Sciences competitors include listed companies like GSK India, Shanghai RAAS, Gland Pharma and Hanmi Pharm, and private ones like Biocon Biologics and Intas Pharmaceuticals.

Public and private companies comparable to Alpine Immune Sciences
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GSK IndiaIndiaIndiaPublicly listed$397M$148M$4.9B11.1x
Shanghai RAASChinaChinaPublicly listed$1.1B$315M$4.8B-
Gland PharmaIndiaIndiaPublicly listed$668M$179M$5B6.5x
Hanmi PharmSouth KoreaSouth KoreaPublicly listed$1.1B$234M$4.8B4.0x
Biocon BiologicsIndiaBangalorePrivate$1.1B-$4.5B4.2x
Intas PharmaceuticalsIndiaAhmedabadPrivate$2B-$4.3B2.1x

Alpine Immune Sciences Public Comps

Alpine Immune Sciences is no longer listed, but its public comps include GSK India, Shanghai RAAS, Gland Pharma, Salubris Pharmaceuticals, Hanmi Pharm, Parabilis Medicines, Beijing Tongrentang, 3SBio, ACADIA Pharmaceuticals and Wantai BioPharm.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GSK India$397M$148M11.7x11.1x31.5x32.0x
Shanghai RAAS$1.1B$315M4.7x-16.2x-
Gland Pharma$668M$179M7.0x6.5x26.2x24.9x
Salubris Pharmaceuticals$649M$155M7.6x6.6x31.8x28.3x
Hanmi Pharm$1.1B$234M4.3x4.0x20.9x15.5x
Parabilis Medicines-($145M)--(27.4x)-
Beijing Tongrentang$2.6B$447M1.8x1.9x10.6x12.7x
3SBio$2.6B$1.6B1.2x1.8x1.9x3.9x

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Common questions about Alpine Immune Sciences

When was Alpine Immune Sciences founded?Alpine Immune Sciences was founded in 2015.
Where is Alpine Immune Sciences headquartered?Alpine Immune Sciences is headquartered in Seattle, WA, United States.
Is Alpine Immune Sciences publicly listed?No, Alpine Immune Sciences was acquired by Vertex Pharmaceuticals in April 2024.
Who acquired Alpine Immune Sciences?Alpine Immune Sciences was acquired by Vertex Pharmaceuticals in April 2024.
How much was Alpine Immune Sciences acquired for?Alpine Immune Sciences was acquired for $4.9B in April 2024, a 86.7x revenue multiple.
How much funding has Alpine Immune Sciences raised?Alpine Immune Sciences has raised $49M across 2 funding rounds.
What was Alpine Immune Sciences' last funding round?Alpine Immune Sciences' last funding round was a $48M Series A in June 2016, led by OrbiMed.
Who are Alpine Immune Sciences' investors?Alpine Immune Sciences' investors include Frazier Healthcare Partners, OrbiMed and Alpine BioVentures.
Which companies are comparable to Alpine Immune Sciences?Companies comparable to Alpine Immune Sciences include GSK India, Shanghai RAAS, Gland Pharma, Hanmi Pharm, Biocon Biologics and Intas Pharmaceuticals.
How many companies has Alpine Immune Sciences acquired?Alpine Immune Sciences has acquired 1 company, including Nivalis Therapeutics.
What was the largest acquisition by Alpine Immune Sciences?The $90M acquisition of Nivalis Therapeutics in July 2017 is the largest acquisition Alpine Immune Sciences has made to date.

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