Janssen Pharmaceuticals Inc. has agreed to pay up to $780 million in up-front, milestone payments and R&D funding for exclusive rights to antiviral conjugates to be developed by Cidara Therapeutics Inc. for the prevention and treatment of seasonal and pandemic influenza.
PERTH, Australia – Analytica Ltd. signed a joint venture agreement with Hebei Nacol Bio-Technology Co. Ltd. and Shijiazhuang Biosphere Pty Ltd., of Hebei Province, China, to manufacture and distribute its Pericoach device for urinary incontinence in China, Macau, Hong Kong and Taiwan.
Merck & Co. Inc. telegraphed the future focus of Organon & Co., which will spin off from the pharmaceutical giant as a public company in the first half of 2021, with an announcement of an agreement to acquire Alydia Health Inc. Alydia makes the Jada system, which treats postpartum hemorrhage.
The Federal Trade Commission (FTC) is seeking to block Illumina Inc.’s $7.1 billion purchase of Grail Inc., claiming the deal will “diminish innovation in the U.S. market” for multicancer early detection (MCED) tests, which could be used to flag dozens of tumor types when they are still treatable. Illumina has vowed to “pursue all legal options” to complete its acquisition of Grail, arguing that it does not compete with Grail and is committed to providing “unfettered access” to its NGS technology.
Med-tech M&A continued an upward trend through March, with 30% more completed in 2021 compared with this point last year. Deals, including collaborations, licensings and joint ventures, are up by 13%, although the value of those deals are trailing 2020 by 39%.
Lianbio Co. Ltd. has inked a $200 million deal with Tarsus Pharmaceuticals Inc. for greater China rights to the phase IIb/III-stage candidate, TP-03 (lotilaner ophthalmic solution, 0.25%), designed to treat Demodex blepharitis and Meibomian gland disease.
Marking its second acquisition this year after snapping up cancer-focused Five Prime Therapeutics Inc., Amgen Inc. is adding to its inflammatory disease portfolio through the purchase of Seattle-based Rodeo Therapeutics Corp. The deal includes $55 million up front for the private company's shareholders, plus contingent milestone payments worth up to an additional $666 million. Rodeo's lead preclinical program targets 15-prostaglandin dehydrogenase to increase tissue levels of prostaglandin PGE2.
LONDON – Bridgebio Inc. has made a huge turn on the initial $65 million it invested in 2018 to acquire rights to infigratinib from Novartis AG, sealing a $2 billion commercialization deal with Swiss oncology specialist Helsinn Group for the fibroblast growth factor receptor (FGFR) inhibitor just four years later. Helsinn will work with Bridgebio affiliate QED Therapeutics Inc. on U.S. co-commercialization of infigratinib in oncology and all other indications apart from skeletal dysplasias, with profits and losses shared on a 50-50 basis.
Bridgene Biosciences Inc., a company using an in-house chemoproteomic platform to find and develop small molecules for hard-to-drug targets, has signed its first major pharma partnership with Takeda Pharmaceutical Co. Ltd. for an undisclosed up-front payment.
Somalogic Inc. has agreed to go public via a merger with blank-check company CM Life Sciences II. Upon closing, CMLS II – a special purpose acquisition company (SPAC) sponsored by affiliates of Casdin Capital LLC and Corvex Management LP – will be renamed Somalogic and its common stock listed on the Nasdaq Global Market under the ticker symbol SLGC.