Apellis Pharmaceuticals Inc. could receive up to $1.25 billion from Swedish Orphan Biovitrum (Sobi) AB in their collaboration to develop systemic pegcetacoplan, a C3 therapy for treating several rare diseases in hematology, nephrology and neurology.
The fatty acid amide hydrolase (FAAH) inhibitor space may seem, in the words of one analyst, “historically a graveyard,” but that didn’t keep Jazz Pharmaceuticals plc from buying Springworks Therapeutics Inc.’s program with a plan to take aim first at post-traumatic stress disorder (PTSD) and associated symptoms.
LONDON – Bayer AG is making a major move into gene therapy with the $4 billion acquisition of one of the pioneers of the field, Asklepios Biopharmaceutical Inc. The deal will give the German pharma access to an adeno-associated viral vector platform that has generated multiple commercial and clinical stage assets across a broad range of indications from rare diseases to chronic conditions. The in-house portfolio includes treatments for Pompe and Parkinson’s diseases and congestive heart failure. Asklepios (Askbio) also has spun out programs in hemophilia and Duchenne muscular dystrophy.
Solid Biosciences Inc. already has its own Duchenne muscular dystrophy program, but with some new investment money it is plunging into a collaboration with Ultragenyx Pharmaceutical Inc. to co-create another program. The two will collaborate on developing and commercializing new gene therapies for treating Duchenne muscular dystrophy as Novato, Calif.-based Ultragenyx is investing $40 million in Solid.
CEO Eric Dube said Retrophin Inc. will “share more [about clinical development plans] once the deal has closed” in the fourth quarter of this year and Orphan Technologies Ltd. belongs to his firm, which has seen only animal data so far with OT-58, an enzyme replacement therapy (ERT) for classical homocystinuria (HCU).
With more than two months left in 2020, it is imminently clear that the $147.3 billion in biopharma projected deal values will likely rise above last year’s record of $160.3 billion, considering the average value per month more than covers the gap. Mergers and acquisitions are currently tracking in fifth place over the past seven years with projected values at $134.7 billion.
Roche Holding AG, already advancing multiple therapies and diagnostics for COVID-19, is adding its support for Boston-based Atea Pharmaceuticals Inc.'s AT-527 to the lineup.
Chinese pharma giant Huadong Medicine Co. Ltd. has licensed rights to mirvetuximab soravtansine, an antibody-drug conjugate (ADC) for ovarian cancer, from Immunogen Inc., marking its first step into a realm embraced by a growing number of Chinese biopharma player: innovative medicines.
Nuvation Bio Inc. and Panacea Acquisition Corp., a special purpose acquisition company (SPAC) sponsored by Ecor1 Capital, said they will merge, with the combined company to be renamed Nuvation.
HONG KONG – La Chaux-de-Fonds, Switzerland-based Rhizen Pharmaceuticals SA has agreed to license its dual PI3K delta and gamma inhibitor tenalisib (RP-6530) to Shanghai-based Curon Biopharmaceutical Ltd. for as much as $149.5 million, inclusive of an upfront payment of undisclosed value and potential milestone payouts.
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