A discovery-stage company founded 10 years ago and focused on developing a PINK1 activator for Parkinson’s disease and other indications is now under the umbrella of Abbvie Inc. through an acquisition potentially worth $655 million. North Chicago-based Abbvie paid $110 million at closing for San Francisco-based Mitokinin Inc., but the deal also includes up to $545 million in potential payments upon hitting development and commercial milestones related to the PINK1 (PTEN-induced kinase 1) program. On top of that, Mitokinin shareholders are entitled to tiered royalties based on net sales.
Teva Pharmaceutical Industries Ltd. is partnering with Sanofi SA in a 50-50 collaboration to develop and commercialize its anti-TL1A candidate, TEV ‘574, initially for inflammatory bowel disease (IBD), in a deal that comes with an up-front payment of €469 million (US$500 million) and up to €940 million in development and launch milestones.
Teva Pharmaceutical Industries Ltd. is partnering with Sanofi SA in a 50-50 collaboration to develop and commercialize its anti-TL1A candidate, TEV ‘574, initially for inflammatory bowel disease (IBD), in a deal that comes with an up-front payment of €469 million (US$500 million) and up to €940 million in development and launch milestones.
Indianapolis-based Eli Lilly and Co. agreed to acquire Point Biopharma Global Inc. for $12.50 per share in cash, or about $1.4 billion, in a deal that would bring the pharma company a pipeline of preclinical and clinical radioligand therapies for cancer. The purchase price is an 87% premium to Point’s closing stock price on Oct. 2, and a 68% premium to the 30-day volume-weighted average price. Shares (NASDAQ:PNT) of Point, also of Indianapolis, rose 84.9%, or $5.67, to close at $12.36 on Oct. 3.
Kriya Therapeutics Inc. has entered into an exclusive license, collaboration and supply agreement with Everads Therapy Ltd. to advance Kriya’s portfolio of gene therapies for retinal diseases using Everads’ suprachoroidal delivery device.
Acurastem Inc. said on Sept. 25 that it struck an out-licensing deal potentially worth $580 million with Takeda Pharmaceutical Co. Ltd. to develop drugs for amyotrophic lateral sclerosis (ALS) and other PIKfyve gene-targeting therapeutics. Under the terms, Tokyo-headquartered Takeda obtains exclusive worldwide rights to Acurastem’s PIKfyve-targeting therapeutics, including Acurastem’s lead AS-202 asset, an antisense oligonucleotide therapy to treat ALS.
Three months after Intercept Pharmaceuticals Inc. received its second complete response letter for obeticholic acid to treat fibrosis due to nonalcoholic steatohepatitis, causing a mass layoff and the decision to drop development for the indication, Bologna, Italy-based Alfasigma SpA agreed to acquire the company for $19 per share in cash, or about $793.8 million.
Peptidream Inc. and Genentech Inc., a Roche Holding company, signed a deal worth up to $1 billion to discover and develop macrocyclic peptide-radioisotope (peptide-RI) drug conjugates. Peptidream, of Kawasaki, Japan, will use its peptide discovery platform system technology to discover, optimize and develop macrocyclic peptide candidates for use as peptide-RI drug conjugates against targets of interest to Genentech. Genentech will pay Peptidream an up-front payment of $40 million and up to $1 billion in potential development, regulatory, and commercial-based milestones. In addition, Peptidream is eligible to receive tiered royalties on net sales (ex-Japan) of any products arising from the collaboration.
Inventiva SA is getting $10 million up front and the possibility of $231 in clinical, regulatory and commercial milestones by exclusively licensing its nonalcoholic steatohepatitis (NASH) candidate, lanifibranor, to Hepalys Pharma Inc. to sell in Japan and South Korea, two massive markets for the indication.
Everest Medicines Ltd. is in-licensing Kezar Life Sciences Inc.’s phase II autoimmune disease candidate, zetomipzomib in a deal worth $132 million for greater China, South Korea and southeast Asia rights. Kezar’s lead molecule zetomipzomib (KZR-616) is a first-in-class, selective immunoproteasome inhibitor with broad therapeutic potential across multiple autoimmune diseases.
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