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BioWorld - Thursday, June 8, 2023
Home » Topics » Deals and M&A

Deals and M&A
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Daewoong_4-28.jpg

Vitalli Bio launches with $477M licensing deal with Daewoong for phase I-ready autoimmune disease candidate

May 2, 2023
By Tamra Sami
No Comments
Daewoong Pharmaceutical Co. Ltd. has out-licensed its phase I-ready autoimmune disease candidate, DWP-213388, to new spinout company Vitalli Bio in a deal worth up to $477 million.
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Acquisition puzzle

Astellas buying Iveric Bio for $5.9B to build ophthalmology franchise

May 2, 2023
By Tamra Sami
No Comments
Astellas Pharma Inc. announced it plans to acquire Iveric Bio Inc. in an all-cash deal in which it will pay $40 per Iveric share for a total equity value of roughly $5.9 billion. “Iveric Bio has promising programs including avacincaptad pegol (Zimura), an important program for geographic atrophy secondary to age-related macular degeneration, and capabilities across the entire value chain in the ophthalmology field,” said Naoki Okamura, Astellas’ president and CEO.
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Credit: Darryl Leja, NHGRI

Feinstein snaps up grant to study rTMS for schizophrenia

May 1, 2023
By Annette Boyle
No Comments
The Feinstein Institutes for Medical Research, the research arm of Northwell Health, landed a $3.4 million grant from the Wellcome Trust to evaluate the use of transcranial magnetic stimulation (rTMS) for schizophrenia. Feinstein will undertake a five-year, double-blind, randomized trial to see whether rTMS improves cognitive or other symptoms of schizophrenia. The technology currently has FDA approval for use in individuals with depression and obsessive-compulsive disorder.
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No letup by Sanofi in Pompe; Maze deal valued as high as $750M

May 1, 2023
By Randy Osborne
No Comments

A mid-stage prospect for Pompe disease (PD) – this one from Maze Therapeutics Inc. – caught the eye of Sanofi SA, and the pair signed a potential $750 million deal to move along the oral glycogen synthase (GYS1) inhibitor MZE-001, a substrate reduction therapy.


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Acquisition puzzle

Astellas buying Iveric Bio for $5.9B to build ophthalmology franchise

May 1, 2023
By Tamra Sami
No Comments
Astellas Pharma Inc. announced it plans to acquire Iveric Bio Inc. in an all-cash deal in which it will pay $40 per Iveric share for a total equity value of roughly $5.9 billion. “Iveric Bio has promising programs including avacincaptad pegol (Zimura), an important program for geographic atrophy secondary to age-related macular degeneration, and capabilities across the entire value chain in the ophthalmology field,” said Naoki Okamura, Astellas’ president and CEO.
Read More
Daewoong_4-28.jpg

Vitalli Bio launches with $477M licensing deal with Daewoong for phase I-ready autoimmune disease candidate

April 28, 2023
By Tamra Sami
No Comments
Daewoong Pharmaceutical Co. Ltd. has out-licensed its phase I-ready autoimmune disease candidate, DWP-213388, to new spinout company Vitalli Bio in a deal worth up to $477 million.
Read More
Women handshake with virology graphics

Med-tech deals and M&As sink in Q1; digital health dips

April 27, 2023
By Karen Carey
No Comments
Despite a strong 2022 for both med-tech deals and M&As, the industry lost ground with both types of transactions in the first quarter of 2023, with deal values falling 32% and M&A values dropping 83%, in comparison with the first quarter of last year.
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Connecting puzzle pieces

Quest finds $450M needle in Haystack acquisition, Foresight sees nearly $59M financing round

April 27, 2023
By Annette Boyle
No Comments
Quest Diagnostics Inc. evidently found what it was looking for, as it agreed to acquire Haystack Oncology Inc. in an all-cash deal valued at up to $450 million with $300 million at closing and $150 million contingent on meeting specific milestones. Haystack focuses on minimal residual disease (MRD) testing, which can detect residual or recurring cancer in its early stages and help guide therapy decisions using blood samples rather than biopsied tissue. The companies expect the transaction to close before the end of June.
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Baqsimi

Amphastar to pay Lilly about $1B in Baqsimi blood sugar rescue deal

April 24, 2023
By Caroline Richards
No Comments
Eli Lilly and Co. is selling worldwide rights to its hypoglycemia nasal treatment Baqsimi to Amphastar Pharmaceuticals Inc. in a deal potentially worth over $1 billion. Under the agreement, Amphastar, of Rancho Cucamonga, Calif., will foot a $500 million cash payment on closing, and will pay Indianapolis-based Lilly an additional $125 million on the one year anniversary of closing. Lilly is also eligible to receive milestone payments of up to $450 million, based on annual sales of $175 million and $200 million, and on total net sales over five years of $950 million.
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EC to 'cut red tape' for merging pharma firms

April 21, 2023
By Caroline Richards
No Comments
The European Commission is bringing out rules designed to further simplify and streamline procedures for pharmaceutical companies planning on merging under EU Merger Regulation rules. The commission assesses mergers and acquisitions of companies whose turnover exceeds certain thresholds to prevent concentrations that would significantly impede effective competition in the European Economic Area or in a substantial part of it.
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