Bristol Myers Squibb Co.'s ongoing investment in protein degradation, a field electrified by both high scientific interest and potentially big-dollar deals, expanded Oct. 4 to include a new research collaboration with Synthex Inc. Valued at up to $550 million for Synthex, plus possible royalties, the license agreement will see the pair use genetic engineering technologies to develop small-molecule degraders across multiple targets. BMS also made an up-front payment and investment in Synthex of undisclosed value.
In what may just be the takeover effort’s first volley, Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co. Ltd., made a hefty offer for Myovant Sciences Ltd. – which said no. Shares of Myovant (NASDAQ:MYOV) closed at $24.44, up $6.48, or 36.1% on word of the unsolicited buyout proposal.
Simcere Pharmaceutical Group has out-licensed its autoimmune drug candidate SIM-0278 for all indications to Almirall SA in a deal worth up to $507 million. Simcere granted exclusive global rights to the candidate to Almirall for development and commercialization excluding mainland China, Hong Kong, Macau, and Taiwan. In return, Almirall will pay Simcere $15 million up front.
Zai Lab Ltd. has agreed to pay $30 million up front to in-license from Seagen Inc. exclusive rights to the antibody-drug conjugate (ADC) Tivdak (tisotumab vedotin) in mainland China, Hong Kong, Macau and Taiwan.
Incyte Corp. has agreed to acquire Villaris Therapeutics Inc., the developer of a monoclonal antibody for vitiligo that aims to treat a larger proportion of the skin than an available topical cream, for $70 million up front, plus up to $310 million in potential development and regulatory milestone payments. The deal includes up to $1.05 billion in commercial milestones on net sales of auremolimab, a preclinical MAb that works against IL-15Rβ and is expected to reach the clinic in 2023.
In what may just be the takeover effort’s first volley, Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co. Ltd., made a hefty offer for Myovant Sciences Ltd. – which said no. Shares of Myovant (NASDAQ:MYOV) closed at $24.44, up $6.48, or 36.1% on word of the unsolicited buyout proposal.
Simcere Pharmaceutical Group has out-licensed its autoimmune drug candidate SIM-0278 for all indications to Almirall SA in a deal worth up to $507 million. Simcere granted exclusive global rights to the candidate to Almirall for development and commercialization excluding mainland China, Hong Kong, Macau, and Taiwan. In return, Almirall will pay Simcere $15 million up front.
Solid Biosciences Inc. found a way to continue its Duchenne muscular dystrophy push, inking a deal to acquire privately held Aavantibio Inc., at the same time nailing down $75 million by way of a private placement with institutional investors.
After two years of talks, privately held Ventus Therapeutics Inc. and Novo Nordisk A/S have signed an exclusive worldwide license deal to commercialize candidates from Ventus’ portfolio of peripherally restricted NLR pyrin domain-containing 3 (NLRP3) inhibitors. Along with Roche Holding AG’s September 2020 acquisition of Inflazome Ltd. and Novartis AG’s buyout of subsidiary IFM Tre in April 2019, this is another step by big players to get into the NLRP3 space.
Getinge AB reported a partnership with Medtronic plc for the Radiant stent, the first covered stent indicated for chimney endovascular aneurysm repair (ChEVAR). This new balloon-expandable stent graft for renal arteries obtained CE mark approval on Sept. 20.
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