Business
Deerfield Management Announces Portfolio Company Nuvalent, Inc. to be Acquired by GSK
Deerfield Management, an investment firm dedicated to advancing healthcare, today announced that portfolio company Nuvalent, Inc. has entered into a definitive agreement to be acquired by GSK for $10.6 billion.
About this update from Nuvalent, Inc.
NEW YORK, June 10, 2026 /PRNewswire/ -- Deerfield Management, an investment firm dedicated to advancing healthcare, today announced that portfolio company Nuvalent, Inc. has entered into a definitive agreement to be acquired by GSK for $10.6 billion. Nuvalent is a clinical-stage precision oncology company founded in 2017 by Deerfield in collaboration with chemical biologist and Harvard University professor Matthew Shair, PhD. The company is led by Chief Executive Officer James Porter, PhD. As sole founding investor in Nuvalent, Deerfield seeded the company in 2017, then funded the entirety of the company's $50 million Series A beginning in 2018 before it emerged out of stealth in January 2021. Deerfield supported a $135M Series B in May 2021 and Nuvalent launched a public offering in July of that same year. "When we seeded Nuvalent, we saw the building blocks of an incredible opportunity – cutting-edge scientific technology tailored to address a critical unmet need in oncology, combined with smart and capable investigators who were prepared to work hand in hand with us to identify and test critical hypotheses," said Cam Wheeler, PhD, Partner at Deerfield and board member at Nuvalent. "Once it became clear what Nuvalent's technology had the potential to do for patients, we supported the company in moving quickly into the clinic." "Nuvalent was founded on a compelling scientific premise – that by combining expertise in structure-based small molecule design with key clinical insights from physician-scientists, the company could design highly selective ROS1 and ALK inhibitors that are able to overcome both drug resistance and toxicity," said Joe Pearlberg, PhD, VP, Scientific Affairs at Deerfield and board member at Nuvalent. "We are delighted to see this approach come to fruition for patients." With two late-stage, potential best-in-class, next-generation, highly selective ROS1 and ALK inhibitors for treatment of non-small cell lung cancer, Nuvalent is advancing a pipeline of additional small molecules with the goal to overcome resistance, minimize adverse events, address brain metastases, and drive more durable responses for patients in need. "The Nuvalent story is an exemplary illustration of the power of the Deerfield ecosystem," said Jim Flynn, Managing Partner at Deerfield. "As great ideas a...