Versantis AG has agreed terms with Genfit SA in an acquisition deal that involves CHF40 million (US$41.4 million) up front, plus up to CHF65 million in milestones, and one third of the proceeds from a potential sale of a rare pediatric disease priority review voucher, should the U.S. FDA grant one.
The University of Texas MD Anderson Cancer Center and Radiopharm Theranostics Ltd. have launched Radiopharm Ventures LLC, a joint venture (JV) that will develop radiopharmaceutical therapies for cancer. Radiopharm Theranostics owns 51% of shares in the new entity, while MD Anderson owns 49%.
Voronoi Inc. out-licensed its pan-RAF inhibitor program in a deal worth up to $482.2 million with Metis Therapeutics, a company integrating drug discovery and delivery with artificial intelligence and machine learning.
Ducentis Biotherapeutics Ltd. has been acquired by Arcutis Biotherapeutics Inc. for up to $400 million, representing a landmark moment for seed investor Lifearc Ventures, which aims to kick-start promising biotechs in the U.K. while giving any investment returns to its parent medical charity.
For privately held Good Therapeutics Inc., founded in 2016 with a platform technology for developing context-dependent therapeutics, the plan had always been to seek a buyer for the first asset to emerge. One came along a little earlier than expected, as Roche Holding AG entered a merger agreement for Good, picking up preclinical-stage PD-1-regulated IL-2 program, in exchange for an up-front cash payment of $250 million.
With a diminishing number of deals in the last month, the gap between deal values this year compared with each of the last two years has shrunk. In August, 2022 deal values were ahead of 2021 by 7% and of 2020 by 2%. Now, in early September, they are ahead of last year by 0.6% and behind 2020 by 3.5%. Volumes, which were down by 23% last month, are now down by 26%.
Shares in Forma Therapeutics Holdings Inc. gained 51% as Novo Nordisk A/S made a $20-per-share offer that values the firm’s equity at $1.1 billion. The stock (NASDA:FMTX) had closed at $13.40 prior to the disclosure of the bid on Sept. 1. It closed the day at $20.24, up $6.84, suggesting at least some optimistic investors believe the final price could go higher.
Ocean Biomedical Inc., a company with preclinical programs in oncology, fibrosis, infectious disease treatments and vaccines, is poised to go public via a merger with Aesther Healthcare Acquisition Corp., a special purpose acquisition company (SPAC).
In pursuit of "an opportunity to accelerate the establishment of clinical development and commercial capabilities in the U.K.," Neurocrine Biosciences Inc. said it will buy Diurnal Group plc for about £48.3 million (US$56.5 million). Cardiff, U.K.-based Diurnal is a specialty pharma developing hormone therapies for rare and chronic endocrine conditions. The all-cash transaction represented a 144% premium of the Aug. 26 closing price of Diurnal shares (LSE:DNL). Shares closed 134.7% higher Aug. 30 at £26.40.
Lee’s Pharmaceutical (HK) Ltd. and its affiliate, Zhaoke Pharmaceutical (Hefei) Co. Ltd., expanded their rights to lucinactant Surfaxin, lyophilized lucinactant Surfaxin LS and Aerosurf from Windtree Therapeutics Inc. in a $78.9 million global license deal to develop and commercialize the candidates for the treatment of preterm infants with respiratory distress syndrome and other potential indications.
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