Trisalus Life Sciences Inc. agreed to merge with Medtech Acquisition Corp. (MTAC) in a deal that allows the drug/device company’s management to meet three out of three goals: quick cash, retained control and faster completion of key clinical trials.
Nona Biosciences Co. Ltd., a subsidiary of Harbour Biomed Therapeutics Ltd. launched in November to provide “idea to IND” services, has struck a deal with Moderna Inc. to develop nucleic acid-based immunotherapies. The candidates will be based on Harbour’s heavy chain only antibody discovery platform.
Minoryx Therapeutics SL is banking what it described as “a significant double-digit up-front payment” and could earn up to €258 million (US$262.1 million) more in milestone payments and development funding from a license agreement with Neuraxpharm GmbH, which covers European rights to its lead drug candidate, leriglitazone, in central nervous system indications. It will also receive tiered double-digit royalties on product sales.
AI drug discovery specialist Insilico Medicine Inc. has landed a multiyear research deal with Sanofi SA to develop candidates for up to six new targets in undisclosed indications. The collaboration included $21.5 million up front for Insilico, and as much as $1.2 billion in additional payments from Sanofi if key research, development and sales milestones are met. The agreement also includes mid-single to up to low double-digit tiered royalties for any products developed.
Despite coming out strong earlier this year, biopharma deals have slowed significantly, with values now falling behind 2021 by 7.6%. In August, deals were ahead of all recent years, showing a 7% increase over last year. Through early November, the industry has completed 1,296 deals, including licensings, joint ventures and collaborations, valued at $154.6 billion.
Biocytogen Pharmaceuticals Co. Ltd.’s subsidiary Eucure Biopharma Co. Ltd. has granted Isu Abxis Co. Ltd. rights to use its humanized agonistic anti-CD40 antibody YH-003 to develop cancer drugs.
Shares of Oyster Point Pharma Inc. (NASDAQ:OYST) soared to $11.57, or 38.6% on word of the buyout by Viatris Inc., which is also taking over privately held, development-stage Famy Life Sciences Ltd. to create an ophthalmology franchise that Viatris estimates could mean at least $1 billion in sales by 2028 as well as at least $500 million more in adjusted EBITDA.
Alkermes plc’s decision to explore separating its commercial-stage neuroscience business from earlier-stage oncology efforts – forming a distinct, publicly traded company to investigate cancer therapies – drove speculation about the launch of the firm’s Lybalvi (olanzapine and samidorphan), approved by the U.S. FDA in the middle of 2021 for schizophrenia and bipolar I disorder.
CSL Ltd. subsidiary CSL Seqirus signed a licensing and development deal with Arcturus Therapeutics Inc. to in-license Arcturus’ late-stage self-amplifying mRNA vaccine platform technology. Arcturus will receive $200 million up front and is eligible to receive more than $1.3 billion in development milestones and over $3 billion in commercial milestones. In addition, it could capture a 40% net profit share for COVID-19 vaccines and up to double-digit royalties for vaccines against flu, pandemic preparedness and three other respiratory pathogens.
Black Friday is still weeks away, but Exelixis Inc. has gone shopping and inked two deals that together are potentially worth more than $1 billion, bolstering its pipeline with cancer drugs from Cybrexa Inc. and Sairopa B.V. Both deals are eye-catching, not just because of their potential value but also because of the technologies involved. Cybrexa’s drug is a peptide-drug conjugate, a class where only one drug is FDA approved and established, and Sairopa is working on an antibody targeting SIRPα, a potential next-generation immunotherapy.
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