Boehringer Ingelheim GmbH’s start to the new year includes two fresh deals across two continents. BI struck one deal with Kunshan, China-based Suzhou Ribo Life Science Co. Ltd. and its Mölndal, Sweden-based subsidiary, Ribocure Pharmaceuticals AB, to develop small interfering RNA (siRNA) treatments for nonalcoholic or metabolic dysfunction-associated steatohepatitis. It struck a second deal with San Francisco-based 3T Biosciences Inc. to develop cancer immunotherapies, which builds on an earlier collaboration formed last year. Combined, the two deals are worth more than $2.5 billion.
Announcing two licensing deals with Swiss pharma giant Novartis AG, Shanghai-based Argo Biopharmaceutical Co. Ltd. said on Jan. 7 that it stands to gain up to $4.165 billion for two of its cardiovascular assets combined. Marking the “first significant overseas out-licensing transaction in the RNAi field from a Chinese biotech company,” the deal includes an up-front payment of $185 million from Novartis to Argo.
Incheon, South Korea-based Celltrion Inc. said on Jan. 2 that it reached an agreement with Asian health care investment firm CBC Group to partially sell off its Primary Care unit by March 2024 for ₩209.9 billion (US$160.7 million). Incheon, South Korea-based Celltrion Inc. said on Jan. 2 that it reached an agreement with Asian health care investment firm CBC Group to partially sell off its Primary Care unit by March 2024 for ₩209.9 billion (US$160.7 million).
Lianbio Co. Ltd. is out-licensing NBTXR-3 to Janssen Pharmaceutical NV to develop and commercialize the radioenhancer in China, South Korea, Singapore and Thailand. Earlier this month, Tang Capital’s Concentra Biosciences LLC lodged a proposal to acquire Lianbio for $465 million, which the company’s shareholders rejected.
The spate of recent deals involving antibody-drug conjugates (ADC) continues in a field composed of record-breaking agreements in 2023. The newest of the deals were focused on Asia. GSK plc entered a license deal for the exclusive rights for clinical development and commercialization of Hansoh Pharmaceutical Co. Ltd.’s B7-H3-targeted ADC, HS-20093. Also, South Korea’s Dong-A ST Co. Ltd. is expanding into the ADC space by acquiring Abtis Co. Ltd. and its Abclick platform for ADC drug development.
Legochem Biosciences Inc. signed a $1.7 billion licensing deal with Janssen Biotech Inc. for its Trop2-directed antibody-drug conjugate (ADC), closing the biggest technology transfer deal in Korean biotech history after Chong Kun Dang Pharmaceuticals Corp.
Elpiscience Biopharma Ltd. is out-licensing to Astellas Pharma Inc. two preclinical bispecific macrophage engagers – ES-019, an anti-PD-L1/SIRPα bispecific antibody, and another unnamed program – in a deal worth up to $1.7 billion. The deal marks the Shanghai-based company’s first out-licensing deal, Elpiscience CEO Darren Ji told BioWorld, noting that Astellas will have global rights to both molecules with a potential to in-license two more.
South Korean biotech Pinotbio Co. Ltd. inked a $250 million (₩320 billion) licensing deal with Princeton, N.J.-based Conjugatebio Inc. to develop 10 antibody-drug conjugate (ADC) targets with Pinotbio’s ADC platform technology. The deal announced on Dec. 21 adds to a previous agreement between the two companies last year. Pinotbio and Conjugate first teamed up to discover and develop five ADC targets in June 2022.
Two big pharma firms placed high offers on Dec. 26 to acquire companies focused on radiopharmaceuticals and cell therapies in what Evercore ISI analysts are calling a “good sign for the end of the year.”
Biopharma deals totaled $18.97 billion in November, marking a notable decrease from October’s historic deal value of $44.91 billion. Even still, through the first 11 months of 2023 cumulative deal value reached $194.26 billion, an 18.65% gain over the $163.73 billion recorded in the same period in 2022.
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