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BioWorld - Thursday, March 30, 2023
Home » Topics » Deals and M&A

Deals and M&A
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Hand between blocks

Icahn launches proxy battle to end Illumina’s continued pursuit of Grail

March 13, 2023
By Annette Boyle
No Comments
From Carl Icahn’s point of view, Illumina Inc.’s desired reintegration of its former spinoff is more a poisoned chalice than a holy Grail. In his opening salvo to a proxy fight, Icahn published an open letter March 13 to other Illumina shareholders referencing the “extreme displeasure” of investors with Illumina’s “reckless” determination to acquire Grail Inc., despite European regulators’ strong opposition to the deal.
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In war against T1D onset, Tzield-bearer Provention’s comrade Sanofi plans $2.9B takeover

March 13, 2023
By Randy Osborne
No Comments
Shares of Provention Bio Inc. (NASDAQ:PRVB) closed March 13 at $24.10, up $17.40, or 259%, after Wall Street learned that collaborator Sanofi SA intends to acquire the firm for $25 per share in cash, which works out to an equity value of about $2.9 billion. The transaction brings Paris-based Sanofi the type 1 diabetes (T1D) therapy Tzield (teplizumab-mzwv), approved by the U.S. FDA in 2022 as the first and only therapy to delay the onset of stage 3 disease in adults and in pediatric patients ages 8 and older with T1D that has reached stage 2.
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Pfizer-Seagen logos on puzzle pieces

Pfizer to buy Seagen for $43B

March 13, 2023
By Caroline Richards
No Comments
Pfizer Inc.’s appetite for acquisitions shows no signs of abating as it announced this morning its plan to acquire biotech Seagen Inc. for a whopping $43 billion in a move that will double the size of its early stage oncology pipeline. Under the deal, unanimously approved by the boards of directors of both firms, Pfizer will pay Seagen $229 per share. Bothell, Wash.-based Seagen expects to amass $2.2 billion in revenue in 2023, representing 12% year-on-year-growth, royalties and collaboration and license agreements from its four, FDA-approved products for the treatment of solid tumors and hematologic malignancies, antibody-drug conjugate drugs Adcetris (brentuximab vedotin), Padcev (enfortumab vedotin) and Tivdak (tisotumab vedotin), and tyrosin kinase inhibitor Tukysa (tucatinib).
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Women handshake with virology graphics

Modex codex may read out new story in EBV with Merck vaccine pact worth $922M-plus

March 8, 2023
By Randy Osborne
No Comments
Another step forward in the quest for an Epstein-Barr virus (EBV) vaccine took the form of Merck & Co. Inc.’s deal with Modex Therapeutics Inc., owned by Opko Health Inc., to advance MDX-2201 worldwide, an arrangement that brings $50 million up front for Opko plus as much as $872.5 million in milestone payments along with royalties.
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CFIUS finally clears merger with F-star and Invox

March 8, 2023
By Tamra Sami
No Comments
After placing a temporary hold on the merger between F-star Therapeutics Ltd. and Sino Biopharmaceutical Ltd.’s Invox Pharma Ltd., citing “unresolved national security risks,” the Committee on Foreign Investment in the United States (CFIUS) has finally cleared the merger to proceed.
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Lungs

Affibody in $637M respiratory disease deal with Chiesi

March 7, 2023
By Caroline Richards
No Comments
Chiesi Farmaceutici SpA has agreed to pay Affibody AB up to $214 million in a collaboration and licensing agreement to develop an inhaled treatment for respiratory diseases, with a further $423 million also in the cards if the deal is extended to two more programs. The fees consist of up front and milestone payments, based on certain development, regulatory and commercial achievements, with additional mid-single to low double-digit royalties on sales.
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Epidermal growth factor receptor (EGFR)

Abbisko out-licenses preclinical EGFR candidate to Allist for $188M

March 7, 2023
By Tamra Sami
No Comments
Abbisko Therapeutics Co. Ltd. and Allist Pharmaceuticals Co. Ltd. signed an exclusive licensing deal that gives Allist rights to develop, manufacture and commercialize Abbisko’s ABK-3376, an EGFR tyrosine kinase inhibitor for $188 million plus royalties.
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Cancer

Radiopharm Theranostics to gain next-generation preclinical platform for therapeutic radiopharmaceuticals for prostate cancer

March 6, 2023
No Comments
Radiopharm Theranostics Ltd., through its wholly...
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Epidermal growth factor receptor (EGFR)

Abbisko out-licenses preclinical EGFR candidate to Allist for $188M

March 3, 2023
By Tamra Sami
No Comments
Abbisko Therapeutics Co. Ltd. and Allist Pharmaceuticals Co. Ltd. signed an exclusive licensing deal that gives Allist rights to develop, manufacture and commercialize Abbisko’s ABK-3376, an EGFR tyrosine kinase inhibitor for $188 million plus royalties.
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Brain with handshake and cityscape

Confo Therapeutics gets $40M up front as Eli Lilly licenses GPCR inhibitor for neuropathic pain

March 2, 2023
By Cormac Sheridan
No Comments
Confo Therapeutics NV is banking an up-front payment of $40 million from a licensing deal with Eli Lilly and Co. involving its lead asset, CFTX-1554, an oral inhibitor of the angiotensin II type 2 receptor, which is in phase I development for neuropathic pain. The deal includes up to $590 million more in potential milestones and tiered sales royalties. Ghent, Belgium-based Confo could also secure a further $590 million in additional milestones should Indianapolis-based Lilly elect to take forward an antibody-based inhibitor directed against the same target.
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