Privately held F-star Therapeutics Inc. and Takeda Pharmaceutical Co. Ltd. have completed their third license agreement, one that could bring F-star about $1 billion. The new collaboration is focused on R&D against undisclosed cancer targets.
In a move to address both prevention and treatment of hepatitis B virus (HBV), Brii Biosciences Ltd. has acquired from VBI Vaccines Inc. a global exclusive license to HBV therapeutic vaccine BRII-179 (VBI-2601) and an exclusive license for HBV prophylactic vaccine Prehevbri in the Asia Pacific region, excluding Japan.
Extending its efforts in the booming antibody-drug conjugate (ADC) space, Beigene Co. Ltd. tapped Duality Biologics Co. Ltd. in a deal that could be worth a potential $1.3 billion, picking up an option for rights to a preclinical-stage ADC candidate targeting select solid tumors. It marks the seventh $1 billion-plus ADC-focused deal so far in 2023 and the second for Dualitybio, which inked a potential $1.7 billion deal in April.
Telix Pharmaceuticals Ltd. will acquire Lightpoint Medical Ltd. in a $35 million deal that will expand its urology pipeline and bring in house a new surgery-focused unit. Under the terms of the deal, Telix of Melbourne, Australia, will pay Lightpoint $20 million up front and a further $15 million on achievement of certain development milestones. The up-front payment will be paid in equity, and the additional milestones will be payable in cash or equity, at Telix’s election.
Aslan Pharmaceuticals Pte Ltd. said it inked a licensing deal with Zenyaku Kogyo Co. Ltd. for its atopic dermatitis-targeting monoclonal antibody, eblasakimab, that could reach $138.5 million in up-front and milestone payments.
Shionogi & Co. Ltd.’s U.S. subsidiary Shinogi Inc. will acquire San Diego-based Qpex Biopharma Inc. in a deal worth up to $140 million that expands Shionogi’s pipeline of infectious disease agents and also adds to Brii Biosciences Ltd.’s pipeline.
Sino Biopharmaceutical Ltd. formed a partnership with Gmax Biopharm International Ltd. to develop obesity candidate GMA-106. As part of the $57 million deal, Sino Biopharm acquired greater China rights to develop and commercialize the drug, in exchange for up-front and milestone payments to Gmax.
Astellas Pharma Inc. has agreed to pay Cullgen Inc. up to $1.9 billion-plus to jointly develop multiple protein degraders. Under the agreement, Tokyo-based Astellas will pay Cullgen, of San Diego, $35 million up front, and an additional $85 million if it decides, during the initial stages of development, to jointly commercialize and promote Cullgen’s lead program, a cell cycle protein degrader for the treatment of breast cancer and other solid tumors, in the U.S.
Biopharma deal values are continuing to track at a similar pace to last year, down only 0.31% compared to the first five months of 2022, while there have been 173 fewer deals. M&A values are at their lowest value in all years tracked by BioWorld (2016-2023).
In a deal potentially worth $392 million, C4 Therapeutics Inc. signed with Betta Pharmaceuticals Co. Ltd. to develop and market an orally bioavailable BiDAC degrader for non-small-cell lung cancer (NSCLC).
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