In its largest M&A deal to date, MorphoSys has agreed to acquire Constellation Pharmaceuticals to expand its oncology offerings. MorphoSys will pay US$34 per share, valuing Constellation at US$1.7 B, to access to Constellation’s two lead candidates: pelabresib and CPI-0209. Concurrently, MorphoSys has also entered into a strategic funding partnership with Royalty Pharma, which is anchored by MorphoSys’ royalties on Janssen Pharmaceuticals’ Tremfya® (guselkumab). Royalty Pharma will also acquire the rights to receive royalties on four therapies: otilimab, gantenerumab, pelabresib and CPI-0209.