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Shanghai and New Jersey-based Lianbio Co. Ltd. has made its second in-licensing deal in a week. This time, it obtained rights for omilancor and NX-13, both under development by Landos Biopharma Inc. for the potential treatment of ulcerative colitis (UC) and Crohn’s disease (CD) – plus eosinophilic esophagitis, for omilancor – in greater China, South Korea and seven ASEAN countries as part of a $218 million deal.
While partnering activities reached new highs in 2020, Chinese biopharma players found it more difficult to snatch good deals in a more competitive landscape. They now need to act faster and do more preparation work to seize partnering opportunities, panelists said at the Chinabio Partnering Forum.
The anti-TIGIT bispecific antibody AGEN-1777’s preclinical status didn’t stand in the way of Bristol Myers Squibb Co.’s whopper deal with Agenus Inc., which is collecting $200 million up front and as much as $1.36 billion in potential milestone payments in trade for development and commercial rights to the Fc-enhanced compound.
Restor3d Inc. added a new dimension to its offerings with its merger with Kinos Medical Inc. The combination will increase Restor3d’s presence in the foot and ankle repair and replacement market by adding the Kinos Axiom total ankle system to its portfolio of 3D-printed implants using biomedical materials in a variety of applications.
Perkinelmer Inc. has agreed to acquire in vitro diagnostics company Immunodiagnostic Systems Holdings plc (IDS) for approximately $155 million (£110 million). The deal will enable Perkinelmer to expand its overall diagnostics business, particularly the immunodiagnostics segment. Based in Boldon, U.K., IDS makes chemiluminescence products in endocrinology, autoimmunity and infectious diseases. The company has three operating business units: Automated IVD Business, Manual IVD Business and Licensing and Technology.
HONG KONG – Dia Imaging Analysis Ltd. has teamed up with Sonoscape Medical Corp. to deliver cardiac ultrasound artificial intelligence (AI) solutions. The partnership aims to reduce the variability associated with manual or visual analysis, and increase efficiency and accuracy throughout the analysis process. As a result, China-based Sonoscape's ultrasound devices will be offering a layer of automated AI-based analysis to support the clinician’s decision-making process, courtesy of Dia's AI-based cardiac solutions.
Shanghai and New Jersey-based Lianbio Co. Ltd. has made its second in-licensing deal in a week. This time, it obtained rights for omilancor and NX-13, both under development by Landos Biopharma Inc. for the potential treatment of ulcerative colitis (UC) and Crohn’s disease (CD) – plus eosinophilic esophagitis, for omilancor – in greater China, South Korea and seven ASEAN countries as part of a $218 million deal.
While partnering activities reached new highs in 2020, Chinese biopharma players found it more difficult to snatch good deals in a more competitive landscape. They now need to act faster and do more preparation work to seize partnering opportunities, panelists said at the Chinabio Partnering Forum.
Digital health and diagnostic efforts continue to dominate med-tech deal-making so far in 2021, while activity focused on medical devices has dropped over the last few years. COVID-19 partnerships also have fallen since last year. Digital health accounts for 43%, the largest portion, of deals this year. About 239 deals are targeting this space, including pandemic efforts. Diagnostic efforts represent about 19%, or 103, of the total deals.
China saw $28.5 billion invested in its life sciences sector in 2020, which was double the previous year’s amount and sets a five-year high. Partnering activities and IPOs also grew exponentially over the last five years to set records.
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