Abbvie Inc. has paid $130 million up front to acquire Syndesi Therapeutics SA, a company working on a new mechanism to mitigate synaptic dysfunction associated with cognitive deficits. The deal includes up to $870 million in milestone payments for Syndesi's first-in-class modulators of the synaptic vesicle protein 2A, which Abbvie said could have applications across a range of neuropsychiatric and neurodegenerative disorders, such as Alzheimer's disease and major depressive disorder.
Biocon Ltd. said its subsidiary Biocon Biologics Ltd. has agreed to buy out partner Viatris Inc., bringing aboard the latter’s biosimilars business, for $3.34 billion, including cash of $2.34 billion and compulsorily convertible preference shares (CCPS) in BBL, valued at $1 billion.
Shanghai Henlius Biotech Inc. has licensed its adalimumab biosimilar Handayuan to Getz Pharma Pvt. Ltd. and its affiliated company Getz Pharma International FZ LLC in an $8 million deal.
LONDON – Antibody-drug conjugate specialist Heidelberg Pharma AG has secured a route into Asia and a fresh injection of much-needed capital, in a licensing and equity deal with Huadong Medicine Co. Ltd. worth up to €930 million (US$1.1 billion).
Huadong Medicine Co. Ltd.’s wholly owned subsidiary Hangzhou Zhongmei Huadong Pharmaceutical Co. Ltd. has acquired Asia-Pacific rights to two drugs from Kiniksa Pharmaceuticals Ltd. in a deal worth up to $662 million. “This collaboration aims to bring Kiniksa’s therapeutics to patients in the Asia Pacific Region suffering from severe autoimmune and inflammatory diseases,” said Sanj Patel, chairman and CEO of Kiniksa. “The collaboration also provides nondilutive capital, cost-sharing, and resources for clinical trials to accelerate our drug development and commercialization efforts.”
Biohaven Pharmaceutical Holding Co. Ltd. signed a deal that could be worth more than $1 billion to take over Channel Biosciences LLC, a subsidiary of Knopp Biosciences LLC, and its Kv7 channel targeting platform. A key part of the deal is BHV-7000, formerly known as KB-3061, described as a potent activator of Kv7.2 and Kv7.3, key subunits involved in neuronal signaling and in regulating the hyperexcitable state in epilepsy. The compound is expected to enter clinical investigation this year, with focal epilepsy as the lead indication.
Odeon Therapeutics Inc. has acquired rights to two cancer candidates from Obi Pharma Inc. in a deal worth up to $200 million. The transaction gives Shanghai-based Odeon rights to develop, register, and commercialize the antibody-drug conjugate OBI-999 and a therapeutic cancer vaccine OBI-833 in mainland China, Hong Kong, and Macau.
Biontech SE and Medigene AG have signed a three-year research collaboration to develop T-cell receptor (TCR) based immunotherapies against cancer. Medigene will receive €26 million ($29.5 million) up front and could receive hundreds of millions of euros per drug in milestone payments from the deal, which will also covers research funding for the period of the collaboration.
Remix Therapeutics Inc., a company developing small molecules to manipulate RNA processing, stands to earn upward of $1 billion through a new strategic collaboration with Janssen Pharmaceutica NV. A Cambridge, Mass.-based startup, Remix last year patented new RNA splicing modulators. It will receive an initial payment of $45 million for research funding plus potential preclinical, clinical, commercial and sales milestone payments, and royalties. Janssen gains exclusive rights to three targets with applications in immunology and oncology.
After two years of record venture capital financing, which peaked during the first quarter of 2021 with a whopping $38.27 billion raised, investments in biopharma have started to drop off, and industry watchers are expecting a slower deal pace ahead. The same is expected for the IPO market, which saw a record 134 companies go public in 2021. Those trends, combined with big pharma’s hefty cash balances, could mean an M&A surge in 2022, though the availability of special purpose acquisition companies could continue to offer private firms an attractive alternative to a buyout.
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