In its first oncology licensing collaboration, Hookipa Pharma Inc. is partnering with Roche Holding AG to develop an arenaviral for treating KRAS-mutated cancers. Roche will pay $25 million up front to Hookipa, which could ultimately bring in about $930 million in milestone-based payments as part of the deal.
U.K.-based seed investor Lifearc Ventures is celebrating a second major deal from its portfolio of companies after Abbvie Inc. bought the tiny former “garage startup" DJS Antibodies Ltd. for $255 million up front plus undisclosed milestone payments. DJS’ lead program is DJS-002, a potential first-in-class lysophosphatidic acid receptor 1 antagonist in preclinical studies for the treatment of idiopathic pulmonary fibrosis and other fibrotic diseases.
The value of med-tech mergers and acquisitions, as well as deals, fell in the third quarter, although 2022 remains a standout year. M&As are at a five-year high, while deals are second only to 2019, in terms of overall value during the first three quarters. The volume of M&As are behind 2021, but deal volume this year remains on top.
Biocytogen Pharmaceuticals Co. Ltd. subsidiary Eucure Biopharma Co. Ltd. has formed a partnership with Syncromune Inc. to combine Eucure’s YH-002 and two other active ingredients with Syncromune’s Syncrovax platform technology in a deal the partners said could be worth “hundreds of millions of U.S. dollars,” including an up-front cash payment of undisclosed value.
Jazz Pharmaceuticals plc in-licensed regional rights to Zymeworks Inc.’s HER2- targeted bispecific antibody zanidatamab in a deal potentially worth $1.76 billion, plus royalties. Jazz wants to expand its oncology portfolio with the deal, which covers the U.S., Europe, Japan and all other territories except Asia Pacific markets previously licensed by Zymeworks to Beigene Ltd.
Cordis Corp. entered an agreement to acquire M.A. Med Alliance SA (Medalliance) in a transaction valued at up to $1.135 billion. Cordis will invest $35 million initially and provide an upfront payment of $200 million at closing in 2023. Meeting regulatory milestones will kick in $125 million and commercial milestones through 2029 are tied to an additional $775 million.
South Korea's LG Chem Ltd., seeking new growth opportunities in the life sciences and a concrete footprint in the U.S., has proposed an all-cash acquisition of Aveo Pharmaceuticals Inc., with a deal value of $519.2 million.
The volatile gene therapy space is getting a boost with Eli Lilly and Co.’s acquisition of Akouos Inc., which only a month before had received the first IND from the U.S. FDA for an adeno-associated virus (AAV)-based hearing loss treatment. Lilly plans to pay about $610 million for the company to get at AK-OTOF, Akouos’ lead candidate for treating hearing loss due to mutations in the otoferlin gene.
Eye diseases specialist Oculis SA is set to add $200 million to its balance sheet by merging with the European Biotech Acquisition Corp., a special purpose acquisition company (SPAC) formed to invest in the European life sciences industry.
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