Flagship Pioneering and Singapore’s Agency for Science, Technology and Research (A*STAR) are jointly committing up to SGD100 million (US$77.12 million) over the next five years to drive inter-party R&D collaboration and biotech creation in Singapore.
Astrazeneca plc is adding a preclinical-stage candidate to its cardiovascular pipeline via a potentially $2 billion licensing agreement with CSPC Pharmaceutical Group Ltd., which includes a $100 million up-front payment for rights to YS-2302018, an oral Lp(a) disruptor. It’s an impressive figure for such an early program, but the Cambridge, U.K.-based pharma hailed the small molecule’s potential against a range of indications, both alone and in combination regimens that could include PCSK9 inhibitor AZD-0780.
Aviadobio Ltd. has entered a potential $2.18 billion license and commercialization agreement for its frontotemporal dementia gene therapy, AVB-101, with Astellas Pharma Inc. Astellas is making a $20 million equity investment in London-based Aviadobio and will pay up to $30 million up front in advance of deciding whether or not to exercise the exclusive option to worldwide rights.
Wuhan YZY Biopharma Co. Ltd. is out-licensing lead candidate M-701, a CD3/EpCAM bispecific antibody, to Chia Tai Tianqing Pharmaceutical Group Co. Ltd. (CTTQ) for China rights in a deal worth up to $143 million. Under the deal, Sino Biopharmaceutical Ltd. subsidiary CTTQ is granted an exclusive license to develop, register, manufacture and commercialize M-701 within mainland China.
Jiangsu Alphamab Biopharmaceuticals Co. Ltd. is out-licensing its anti-HER2 bispecific antibody-drug conjugate, JSKN-003, to JMT-Bio Technology Co. for China rights in a deal worth up to ¥3.08 billion (US$439 million) plus sales royalties.
Although details are scant, Shanghai Fosun Pharmaceutical Co. Ltd. plans to buy out partner Kite Pharma Inc. (now Gilead Sciences Inc.) in the Fosun Pharma Kite Biotechnology Co. Ltd. joint venture for $27 million.
Radiopharmaceutical company Telix Pharmaceuticals Ltd. is continuing its buying spree to shore up dominance in the radiopharmaceutical market with its latest acquisition of RLS Radiopharmacies for $250 million to expand its U.S. manufacturing presence and establish a next-generation radiometal production network.
Biopharma deal values reached $14.88 billion in August, declining from July’s $20.86 billion but improving over June’s $12.79 billion. With a total of $135.17 billion raised through the first eight months, 2024 continues to hold the record for the highest year-to-date deal value in BioWorld's records.
Despite heightened political tensions, both Chinese and U.S. industry officials are working to strengthen ties in the health care and biotech sector, including launching strategic initiatives to foster Sino-U.S. biotech investment and M&A deals. As one of the initiatives, representatives from Hong Kong, China and the U.S. convened at the Bio Hong Kong 2024 conference to launch a global health care M&A and financial investment alliance, along with fostering company and talent growth in Hong Kong.
In a deal that brings $60 million in cash and equity up front, plus up to $575 million in milestone payments, Shanghai-based Epimab Biotherapeutics Inc. and San Diego-based Vignette Bio Inc. entered a licensing agreement for Epimab’s BCMA-targeting T-cell engager, EMB-06, for autoimmune disease.
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