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Medilink, Biontech ink potential $1B for HER3-targeting ADC

Oct. 17, 2023
In its first significant partnering deal since being founded in 2020, Medilink Therapeutics Co. Ltd. licensed exclusive global rights to an antibody-drug conjugate (ADC) targeting HER3 to Biontech SE in exchange for an up-front payment of $70 million, with the possibility for additional payments tied to development, regulatory and commercial milestones exceeding $1 billion. Medilink retains rights in mainland China, Hong Kong Special Administrative Region and Macau Special Administrative Region.
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Biopharma deals September 2023

Biopharma deals total $18.46B in September, including six $1B+ deals

Oct. 17, 2023
By Amanda Lanier
Through Q3 2023 biopharma values are down 4.5% year over year, with 1,007 deals valued at $130.58 billion this year, compared to 1,179 deals worth $136.73 billion in the same time period in 2022. Biopharma deals have averaged $14.51 billion per month this year, a decrease from 2022’s average of $17.18 billion per month. September deals outpaced the average of both years, reaching $18.46 billion.
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Handshake with dollar sign and checkmark
Biopharma deals September 2023

Biopharma deals total $18.46B in September, including six $1B+ deals

Oct. 13, 2023
By Amanda Lanier
Through Q3 2023 biopharma values are down 4.5% year over year, with 1,007 deals valued at $130.58 billion this year, compared to 1,179 deals worth $136.73 billion in the same time period in 2022. Biopharma deals have averaged $14.51 billion per month this year, a decrease from 2022’s average of $17.18 billion per month. September deals outpaced the average of both years, reaching $18.46 billion.
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Medilink, Biontech ink potential $1B for HER3-targeting ADC

Oct. 12, 2023
In its first significant partnering deal since being founded in 2020, Medilink Therapeutics Co. Ltd. licensed exclusive global rights to an antibody-drug conjugate (ADC) targeting HER3 to Biontech SE in exchange for an up-front payment of $70 million, with the possibility for additional payments tied to development, regulatory and commercial milestones exceeding $1 billion. Medilink retains rights in mainland China, Hong Kong Special Administrative Region and Macau Special Administrative Region.
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EU orders Illumina to sell Grail or face further fines

Oct. 12, 2023
By Shani Alexander
The European Commission (EC) has ordered Illumina Inc. to sell Grail Inc. after it closed the acquisition without approval from EU regulators. The EC said that if Illumina fails to comply with the order, the company faces fines of up to 5% of its daily aggregate revenue or up to 10% of its annual worldwide revenue.
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Post-Lumakras adcom, BMS makes $5.8B move for Mirati; Sanofi to counter?

Oct. 9, 2023
By Randy Osborne
Just as Wall Street had begun mulling the possible fallout of the regulatory vote against full U.S. FDA clearance for Amgen Inc.’s KRAS G12C therapy for non-small-cell lung cancer, a new – albeit not entirely unexpected – development cropped up in the space. Mirati Therapeutics Inc. disclosed Oct. 9 that Bristol Myers Squibb Co. (BMS) is offering to take over the firm in a deal that could be worth as much as $5.8 billion, historically one of the larger takeovers for 2023.
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