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BioWorld - Thursday, June 30, 2022
Home » Topics » Deals and M&A

Deals and M&A
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Woman sleeping

Awake at the wheel: Jazz buys Sumitomo sleep disorder candidate in $1.59B deal

May 5, 2022
By Lee Landenberger
No Comments
Little more than a month after selling a narcolepsy drug from its portfolio, Jazz Pharmaceuticals plc has replaced it with another. The company entered an exclusive development and commercialization rights agreement Sumitomo Pharma Co. Ltd.’s candidate for treating narcolepsy along with idiopathic hypersomnia and other sleep disorders. Sumitomo retains the rights for Japan, China and certain other Asia-Pacific countries and regions while Jazz gets the rights to everywhere else.
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Intercept finds cash, optionality in sale of ex-US business to Advanz

May 5, 2022
By Michael Fitzhugh
No Comments
Intent on expanding both the reach and approved uses of its farnesoid X receptor agonist, Ocaliva (obeticholic acid), Intercept Pharmaceuticals Inc. is selling both its ex-U.S. operations and rights to the primary biliary cholangitis drug to U.K.-based Advanz Pharma Corp. Ltd. for $405 million up front. The deal, including an additional $45 million earnout tied to EU regulatory advances, represents an important step toward strengthening Intercept's balance sheet and options, said CEO and President Jerry Durso.
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China in red on globe

Hansoh wins greater China rights to oncology drug from Nikang in $218M deal

May 5, 2022
By Doris Yu
No Comments
Hansoh Pharmaceutical Group Co. Ltd. has acquired greater China rights to oncology candidate NKT-2152 from Nikang Therapeutics Inc. in a deal worth up to $218 million. Jiangsu, China-based Hansoh picked up exclusive rights to develop and commercialize the candidate in mainland China, Hong Kong, Macau and Taiwan. In turn, Nikang is eligible to receive $15 million up-front cash payment, as well as up to $203 million in potential development, regulatory and sales-based milestone payments, and tiered royalties.
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Hands holding gears

Amphista lands potentially rich deals with Merck, BMS

May 4, 2022
By Lee Landenberger
No Comments
Privately held Amphista Therapeutics Ltd. has cut massive deals with two biopharma giants, Merck KGaA and Bristol Myers Squibb Co. (BMS), that together could bring the company up to $2.25 billion. The companies will use Amphista’s Eclipsys platform to generate protein degrader-based therapeutics. Merck is looking to discover and develop small-molecule protein degraders for treating cancer and immune disease. Indications in the BMS deal were not announced.
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Gold dollar sign

Ashvattha lands $69M series B, Huadong licensing deal

May 3, 2022
By David Ho
No Comments
Ashvattha Therapeutics Inc. secured $69 million in a series B financing that it said will strengthen its ability to develop hydroxyl dendrimer-based medicines and accelerate efforts to advance its candidates to the clinic.
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Outline of intestine and person holding stomach in painntestine on person holding stomach in pain

Xbiome acquires drug from Assembly Biosciences to treat ulcerative colitis

May 3, 2022
By Doris Yu
No Comments
Xbiome Inc. acquired M-201, a clinical-stage program from Assembly Biosciences Inc., to treat patients with mild to moderate ulcerative colitis as it looks to develop products to address the growing incidence of bowel disease throughout Asia. The company expects to start a phase Ib trial of the oral live biotherapeutic product in the U.S. in 2022 and also plans to run clinical trials in China.
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Natural killer cell

Latest NK deal sees Dragonfly draw Gilead to $300M collaboration

May 2, 2022
By Jennifer Boggs
No Comments
Dragonfly Therapeutics Inc. added Gilead Sciences Inc. to its roster of partnerships in a deal that gives the Waltham, Mass.-based company $300 million up front, with opt-in payments, milestones and up to 20% royalties down the road. In exchange Foster City, Calif.-based Gilead gets exclusive, worldwide rights to DF-7001, a preclinical-stage immunotherapy, as well as rights to additional NK cell engager programs generated by Dragonfly’s TriNKET (Trispecific NK Engager) platform.
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Digital heart illustration

Medtronic strikes $50M deal for Acutus heart device portfolio

April 28, 2022
By Catherine Longworth
No Comments
Acutus Medical Inc. is selling its left-heart access portfolio to Medtronic plc in a deal worth upwards of $50 million. The portfolio of devices includes a line of sheath-compatible septal crossing devices and steerable sheaths. Under the terms of the agreement, Medtronic will make an upfront cash payment to Acutus of $50 million and additional undisclosed payments based on milestones and future sales.
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Fully charged Plexium’s double-A: $565M Abbvie deal in TPD follows Amgen pact

April 28, 2022
By Randy Osborne
No Comments
Targeted protein degradation (TPD) specialist Plexium Inc.’s potential $565 million deal with Abbvie Inc. came on the heels of a tie-up with Amgen Inc. in February worth as much as $500 million-plus, as well as an oversubscribed $102 million financing the same month – all of which translates into “optionality, moving forward, to keep our heads down, do the work we’re really good at and continue to watch the market,” said CEO Percival Barretto-Ko.
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Hearing ear icon

Cochlear to acquire rival Oticon Medical for $121M

April 27, 2022
By Tamra Sami
No Comments
Cochlear Ltd. will acquire Danish hearing implant company Oticon Medical A/S for AU$170 million (US$121 million) after parent company the Demant Group said it planned to exit its hearing implants business. Cochlear CEO Dig Howitt said that Oticon Medical is expected to add AU$75 to AU$80 million to Sydney-based Cochlear’s annual revenue, although Oticon Medical is currently “loss making.” In 2021, Demant’s hearing Implants saw revenue of $73 million.
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