Med-tech deals are up 49.01% year over year, with the industry raising $9.83 billion through September in 2023, up from $6.59 billion in the same time frame last year. The number of deals, meanwhile, has decreased from 1,510 through Q3 2022 to 1,278 this year.
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.
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.
Astria Therapeutics Inc.’s potential $320 million deal with Ichnos Sciences Inc. to bring aboard an OX40 portfolio for atopic dermatitis puts the firm in line to compete with big pharma, which is trying – at a much later stage – the same mechanism of action.
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.
Sanofi SA will pay $10 million up front and potentially $1 billion down the road to build artificial intelligence (AI) drug discovery modules with Biomap – the Silicon Valley-based biotech led by Chinese billionaire, software engineer and serial entrepreneur Robin Li known for founding China’s largest internet search engine and AI platform, Baidu, in 2000.
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.
Japanese specialty global pharma Kyowa Kirin Co. Ltd. has agreed to buy out Orchard Therapeutics plc in a $387.4 million cash takeover that could jump $90 million to reach $477.6 million, contingent on the pending U.S. FDA approval of its EU-approved gene therapy, Libmeldy (atidarsagene autotemcel).
Japanese specialty global pharma Kyowa Kirin Co. Ltd. has agreed to buy out Orchard Therapeutics plc in a $387.4 million cash takeover that could jump $90 million to reach $477.6 million, contingent on the pending U.S. FDA approval of its EU-approved gene therapy, Libmeldy (atidarsagene autotemcel).
Dimerix Ltd. has out-licensed lead candidate DMX-200 to Advanz Pharma Corp. for focal segmental glomerulosclerosis (FSGS) in a carve-out deal that grants commercialization rights to Advanz in the European Union, the U.K., Switzerland, Canada, Australia and New Zealand.
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