Tandem Diabetes Care Inc. obtained reimbursement in France for its Control-IQ technology, an advanced hybrid closed loop system for patients with type 1 diabetes that uses an algorithm to automatically adjust insulin in response to predicted glucose levels.
South Korea’s Celltrion Inc. is rolling out a tweaked plan to merge its three affiliates – electing for a two-way merger followed by consolidation with the final branch – in its latest efforts to rise through the ranks and emerge as a “true” big pharma.
With a U.S. biotech identified as One Bio, Jiangsu Hengrui Pharmaceutical Co. Ltd. has inked an out-licensing deal potentially worth $1.05 billion for its asthma and chronic sinusitis-targeting drug, SHR-1905. The latest deal gives One Bio exclusive rights to develop, produce and commercialize SHR-1905 worldwide, excluding the greater China territory.
Immuno-oncology company Imugene Ltd. has acquired a worldwide exclusive license to Precision Biosciences Inc.’s allogeneic CD19 CAR T-cell therapy program in a deal worth more than $227 million. The off-the-shelf CD19 CAR T-cell therapy, azercabtagene zapreleucel (azer-cel), could potentially be the first allogeneic CAR T to be approved, Imugene CEO Leslie Chong told BioWorld.
Cytomed Therapeutics Ltd. has signed a memorandum of understanding (MOU) with Hangzhou CNK Therapeutics Co. Ltd. allowing Cytomed to utilize CNK's Piggybac technology to permanently graft the chimeric antigen receptor (CAR) gene into its γδ T cells via a non-viral gene editing method.
Modalis Therapeutics Corp. – previously Edigene Corp. – has regained full rights to two gene therapy candidates for muscle disorders, MDL-201 and MDL-202, that were co-developed with Astellas Pharmaceutical Inc. since 2019.
Med-tech deal values the first seven months of the year are up more than 50% from last year. Meanwhile, M&As decreased almost 70% from the same time period in 2022.
Harmony Biosciences Holdings Inc.’s agreement to acquire Zynerba Pharmaceuticals Inc. for $60 million cash plus as much as $140 million in contingent value rights (CVRs) didn’t register as one of the larger potential outlays recently, but Wall Street had questions about the term sheet just the same. Plymouth Meeting, Pa.-based Harmony is paying about $1.10 per share in cash for Zynerba, of Devon, Pa., plus one non-tradeable CVR tied to clinical, regulatory and sales milestones.
The June dip in biopharma deal value was short-lived, with July seeing 106 deals worth $17.57 billion, up 72.03% from $10.22 billion in July 2022. In the first seven months of 2023, 778 deals were completed worth $105.39 billion, compared to 995 deals worth $105.9 billion in the same period last year, a decrease of 0.48% by value and a decrease of 21.8% by volume. The same timeframe in 2021 saw 1,240 deals valued at $107 billion, 1,228 deals worth $112.23 billion in 2020, and 963 deals totaling $93.39 billion in 2019.
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