Blueprint Medicines Corporation

Blueprint Medicines is a commercial biotech company developing precision therapies for a wide range of genomically defined diseases like blood disorders, treatment-resistant non-small cell lung cancer (NSCLC), medullary thyroid cancers, gastrointestinal stromal tumors (GIST), and liver cancers. The company uses a proprietary platform to design selective kinase inhibitor drugs.

Unlike many startups, Blueprint has two FDA-approved therapies—AYVAKIT (avapritinib) and GAVRETO (pralsetinib)—on the US and European markets. AYVAKIT targets rare mast cell disorders while GAVRETO treats lung cancer and thyroid cancer. In May 2023 , AYVAKIT also gained FDA approval for adults with indolent systemic mastocytosis (ISM). Additionally, the company has one drug candidate, BLU-263, in late-stage development and 5 drug candidates in early-stage development including fisogatinib and BLU-945. 

Key partnerships and customers

Since 2011, Blueprint has formed multiple collaborations with leading pharma companies  to develop and commercialize its kinase inhibitors. Key partnerships include deals with Roche/Genentech for two therapies including pralsetinib, and with CStone for avapritinib, pralsetinib and fisogatinib.

Other notable agreements include a worldwide license with Ipsen for IPN10130, and a collaboration with Proteovant Therapeutics to develop novel protein degrader therapies. Blueprint has strategically partnered to maximize the potential of its pipeline globally.

Funding and Financials

In 2022, Blueprint received USD 1.25 billion to accelerate its pipeline and pursue deals, while also licensing its KIT exon 13 inhibitor to startup IDRx for equity and milestones. Despite a 2022 net loss of USD 557.5 million, cash reserves grew to USD 1.1 billion. The company reported a revenue of USD 204 million.  For 1H 2023, the firm’s net loss decreased to USD 262.4 million, compared to a net loss of USD 265.7 million in 1H 2022. Revenue for 1H improved (up 51% YoY) to USD 78.9 million. In terms of its guidance for the full year of 2023, Blueprint anticipates approximately USD 135 million–145 million in AYVAKIT net product revenue and USD 40 million–50 million in collaboration revenue.