Warsaw, Ind.-based Orthopediatrics Corp. is scooping up Apifix Ltd., allowing it to gain the Minimally Invasive Deformity Correction (MID-C) system, which is used to treat adolescent idiopathic scoliosis. BTIG’s Ryan Zimmerman noted that the deal has a potential value of $67 million plus potential future revenue milestones. “The initial upfront payment has a ~$37 [million] value, composed of $2 million in cash and ~935k shares of common stock,” he added.
With an eye to continued pipeline expansion, Horizon Therapeutics plc has agreed to pay $45 million up front plus milestones to acquire stealth startup Curzion Pharmaceuticals Inc., the developer of a potential therapy for diffuse cutaneous systemic sclerosis (dcSSc).
HONG KONG – China’s I-Mab Biopharma Co. Ltd. has entered a strategic partnership with Indonesia’s PT Kalbe Genexine Biologics (KG Bio). Through the deal, KG Bio will receive the right of first negotiation to commercialize two I-Mab-discovered candidates in the ASEAN and MENA regions as well as Sri Lanka.
BEIJING – Osaka-based Japanese infectious disease specialist Shionogi & Co. Ltd. said it will partner with Chinese insurance giant Ping An to establish a data-driven joint venture to develop new drugs in a deal involving ¥33.53 billion (US$311 million). It also plans to tap into immuno-oncology to address the patent cliff of its HIV drugs. Under the terms, the Japanese pharma will sell a 2.05% voting stake, or 6.35 million shares of its common stock, to Ping An for ¥33.53 billion. Shionogi will own 51% of the joint venture while Ping An owns 49%, Shionogi IR group manager Kunihiro Mera told BioWorld.
Proteona Pte. Ltd. has formed a couple of significant partnerships recently, including a Germany-Singapore partnership for a drug screening and discovery platform using single cell multi-omics analysis and an alliance to develop antibodies against coronaviruses.
BEIJING – Suzhou-based Innovent Biologics Inc. has inked a deal with Alector Inc. to obtain the rights of the U.S. biotech’s AL-008 to develop and commercialize it for oncology indications in China.
LONDON – Evox Therapeutics Ltd. has validated its exosome drug delivery technologies in a $882 million deal with Takeda Pharmaceutical Co. Ltd., in which the partners will develop protein replacement and messengerRNA (mRNA) therapies in five rare disease indications.
DUBLIN – Without particularly looking for a deal, immunometabolism specialist Sitryx Ltd. landed quite a large one – a licensing agreement in autoimmune disease with Eli Lilly and Co. involving up to four preclinical programs, for which it is receiving $50 million up front, $10 million as equity investment and up to $820 million in development milestones.
BEIJING – Suzhou-based Innovent Biologics Inc. has inked a deal with Alector Inc. to obtain the rights of the U.S. biotech’s AL-008, a dual function anti-SIRP-alpha (anti-signal regulatory protein-alpha) antibody, to develop and commercialize it for oncology indications in China.
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