Roivant Sciences Ltd. is buying Silicon Therapeutics LLC for $450 million in Roivant equity plus regulatory and commercial milestone payments. The combination of Silicon’s computational physics platform for in silico design or optimizing small-molecule drugs with Roivant’s newly unveiled protein degradation platform will be powered by Roivant’s machine learning models.
Merck & Co. Inc. is paying $1.85 billion, or $60 per share, to acquire Pandion Therapeutics Inc. on the back of early stage data in human volunteers for its lead program, PT-101, an engineered interleukin-2 mutein fused to an Fc backbone, which is designed to stimulate targeted expansion of regulatory T cells for use in autoimmune disease indications.
While the new year has recorded a similar number of completed med-tech deals and M&As in comparison with the early months of 2020, the projected values of those transactions are up by 78% and 418%, respectively. Through this week, BioWorld has tracked 204 deals worth $144.65 million, and 62 M&As completed and valued at $12.8 billion, for the first months of 2021.
Gilead Sciences Inc. was looking to get into oncology in a big way. Arcus Biosciences Inc. had a pipeline of cancer drugs it didn't want to break up. While a little unusual, the landmark 10-year pact the companies made last year just made sense, company executives explained during a session at Biocom California's Global Life Science Partnering Conference.
HONG KONG – Beijing-based Beigene Ltd. struck its second deal outside China this year, signing an option and license agreement with Boston Immune Technologies & Therapeutics Inc. (BITT) for the latter’s tumor necrosis factor receptor 2 (TNFR2) antagonist antibodies.
HONG KONG – Hansoh Pharmaceutical Group Co. Ltd. picked up the greater China rights to Scynexis Inc.’s lead candidate, ibrexafungerp. Hansoh will take charge of the development, regulatory approval and commercialization of the antifungal in exchange for a $10 million up-front payment and as much as $112 million in milestones.
HONG KONG – Ferring Pharmaceuticals’ microbiome-focused subsidiary Rebiotix Inc. and Mybiotics Pharma Ltd. have agreed to a multiyear strategic collaboration to develop live microbiota-based biotherapeutics to address bacterial vaginosis.
Grail Inc. is teaming up with Quest Diagnostics Inc. to support the upcoming launch of its multicancer blood test. The early cancer detection test, called Galleri, is slated to begin rolling out in the second quarter of 2021. Quest’s 2,200 patient service centers and network of 5,000 mobile phlebotomists will help to collect blood samples for Galleri once the test becomes available in the U.S.
Gene therapy developer Beam Therapeutics Inc. has acquired drug delivery specialist Guide Therapeutics Inc. in a deal valued at up to $440 million, adding yet another piece of the integrated platform CEO John Evans told BioWorld the company is striving to build. Guide's lipid nanoparticle (LNP) screening technology could help medicines developed by Beam and its partners reach new targets beyond the liver, an increasingly important endeavor for gene therapy developers like Beam, seeking to maximize the breadth of their growing portfolios. Terms of the deal included $120 million up front, plus up to $320 million in stock-based technology and product success milestone payments. Shares in Beam (NASDAQ:BEAM) fell 12.6% to $96.48 on Feb. 23.
News of Vaccinex Inc. signing two multitarget deals with undisclosed "prominent pharmaceutical companies" sent company shares (NASDAQ:VCNX) up 70% to $4.88 on Feb. 19, even as financial terms of the deal went undisclosed. The collaborations will focus on using the company's ActivMAb antibody discovery and novel viral display platform to develop candidates against complex antigens such as G protein-coupled receptors and ion channels, the company said.