Notching another deal in its efforts to extend the global reach of toripalimab, Junshi Biosciences Co. Ltd. granted Dr. Reddy’s Laboratories Ltd. rights to develop and commercialize the PD-1 inhibitor in a regional licensing agreement that could be worth as much as $728.3 million.
In the latest deal from the burgeoning antibody-drug conjugate (ADC) space, Eisai Co. Ltd. and privately held Bliss Biopharmaceutical (Hangzhou) Co. Ltd. reached a development and commercialization agreement that could be worth up to $2 billion. The massive collaboration is the eighth largest so far this year and one of three that involve ADCs in the year’s top 10 deals.
Roche AG acquired global rights to Zion Pharma Ltd.’s lead program, ZN-A-1041, an orally administered selective tyrosine kinase inhibitor that is designed to penetrate the blood-brain barrier and can prevent and treat brain metastases in HER2-positive metastatic breast cancer patients.
Tscan Therapeutics Inc.’s Wall Street-pleasing deal with Amgen Inc. in Crohn’s disease (CD) could expand into ulcerative colitis, but meanwhile is bringing $30 million up front with the potential for more than $500 million in preclinical, clinical, regulatory and commercial milestone payments, plus tiered single-digit royalties. Shares of Waltham, Mass.-based Tscan (NASDAQ:TCRX) closed May 9 at $3.40, up $1.25, or 58%, as the world learned of the multiyear collaboration with Amgen, of Thousand Oaks, Calif., that will use Tscan’s target discovery platform, Targetscan, to identify the antigens recognized by T cells in patients with CD.
Notching another deal in its efforts to extend the global reach of toripalimab, Junshi Biosciences Co. Ltd. granted Dr. Reddy’s Laboratories Ltd. rights to develop and commercialize the PD-1 inhibitor in a regional licensing agreement that could be worth as much as $728.3 million.
In the latest deal from the burgeoning antibody-drug conjugate (ADC) space, Eisai Co. Ltd. and privately held Bliss Biopharmaceutical (Hangzhou) Co. Ltd. reached a development and commercialization agreement that could be worth up to $2 billion. The massive collaboration is the eighth largest so far this year and one of three that involve ADCs in the year’s top 10 deals. The year’s biggest, according to BioWorld statistics, is the partnership extension between Evotec SE and Bristol Myers Squibb Co. to identify neurodegenerative disease therapies for eight years. The other ADC deals involve Synaffix BV, which signed a $2 billion pact in January with Amgen Inc., and a $2.2 billion expanded deal in February with Macrogenics Inc.
University of Sydney spinout Kinoxis Therapeutics Pty announced a partnership and licensing agreement with Boehringer Ingelheim GmbH to develop first-in-class oxytocin-targeting precision psychiatry treatments to improve the quality of life of people living with neuropsychiatric disorders. Under the terms of the agreement, Kinoxis will receive an up-front payment and research support payments and is eligible for research, preclinical, clinical, regulatory and commercial milestones of up to AU$266 million (US$181 million), in addition to sales-based royalties.
Companies such asMedtronic plc have become risk averse and are unlikely to takeover early stage medtech firms, Ori Hadomi, vice president strategic initiatives & partnerships, at Medtronic, told delegates at the LSX World Congress in London. Hadomi, who joined Dublin-based Medtronic after his firm Mazor Robotics Inc. was taken over by the company in a $1.64 billion deal in 2018, told early-stage startups “don’t waste their time” in approaching the company.
Avertix Medical Inc. signed a definitive merger agreement with Bios Acquisition Corp., a special purpose acquisition company (SPAC), in a deal that will take the company public on the Nasdaq. The deal will establish the combined entity, which will continue under the Avertix name and trade as AVRT, with an estimated enterprise value of $195 million. The transaction is expected to close in the second half of the year.
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