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Biocytogen Pharmaceuticals Co. Ltd.’s wholly owned subsidiary, Eucure Biopharma Co. Ltd., licensed exclusive greater China rights to YH-008 to Chipscreen Biosciences Co. Ltd. in a ¥596 million (US$86 million) deal. Chipscreen subsidiary, Chipscreen Newway Biosciences Co. Ltd., will develop and commercialize the bispecific antibody in mainland China, Hong Kong, Macau and Taiwan.
South Korean biotech peers Celltrion Healthcare Co. Ltd. and Liscure Biosciences Co. Ltd. signed a deal to co-develop microbiome-based oral live biotherapeutic products for Parkinson's disease.
Indicating its continuing strategy to invest in antibody-drug conjugates (ADCs), Astrazeneca plc obtained exclusive global rights to Claudin 18.2 ADC CMG-901 from Keymed Biosciences Inc. and Lepu Biopharma Co. Ltd. in a deal worth up to $1.163 billion.
Antibody specialist Jounce Therapeutics Inc. and Redx Pharma plc are to merge in an all-share transaction with a value of $425 million, in a deal that will see Redx’s small-molecule cancer and fibrosis drugs absorbing the lion’s share of the combined cash and its shareholders owning 63% of the combined company.
Aiming to start afresh under a new name, troubled Mei Pharma Inc. wants to merge with Infinity Pharmaceuticals Inc. in an all-stock transaction that would provide the combined outfit enough cash to fund operations through mid-2025. Specifically, coffers of the newly made firm would contain about $100 million for the advancement of three oncology candidates in a pipeline led by Infinity’s phase II-stage eganelisib for head and neck squamous cell carcinoma.
Indicating its continuing strategy to invest in antibody-drug conjugates (ADCs), Astrazeneca plc obtained exclusive global rights to Claudin 18.2 ADC CMG-901 from Keymed Biosciences Inc. and Lepu Biopharma Co. Ltd. in a deal worth up to $1.163 billion.
South Korean biotech peers Celltrion Healthcare Co. Ltd. and Liscure Biosciences Co. Ltd. signed a deal to co-develop microbiome-based oral live biotherapeutic products for Parkinson's disease. Under the agreement, Celltrion, of Incheon, South Korea, will provide Seoul-based Liscure with research funding as well as additional payments as the project progresses. Liscure will lead discovery of the novel candidates, and Celltrion will be responsible for further clinical and regulatory development.
The U.S. Federal Trade Commission (FTC) released its annual premerger notification report, this one for fiscal year 2021, during which more than 3,400 transactions were reported under the Hart-Scott-Rodino Act (HRS Act). Roughly 17% of these were valued at more than $1 billion, but the FTC is facing bad publicity with the resignation of the sole Republican member of the commission, Christine Wilson, who charged FTC chairwoman Lina Khan with abuse of power.
Innocare Pharma Ltd. said it is open to new collaborations after partner Biogen Inc. decided to terminate a global deal to develop and commercialize BTK inhibitor orelabrutinib, in development for multiple sclerosis and other autoimmune diseases. Notice of the termination, disclosed in Biogen’s fourth-quarter 2022 financial report, was “based on the contract term of ‘terminate for convenience,’” Innocare told BioWorld. “We do not know their internal decision-making process.”
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