Audentes Therapeutics Inc. CEO Matthew Patterson early last month characterized results with lead compound AT-132 in X-linked myotubular myopathy (XLMTM) as “unprecedented in neuromuscular disease,” and the value apparently wasn’t lost on Tokyo-based Astellas Pharma Inc., which signed a deal worth about $3 billion to take over the company. Shares of Audentes (NASDAQ:BOLD) closed at $58.93, up $30.32, or 106%, on word of the buyout – which pairs the two firms’ gene therapy expertise and is slated to close in the first quarter of next year – at a cost of $60 per share in cash.
HONG KONG – South Korean company Alteogen Inc. signed a nonexclusive global license agreement with a top 10 global pharmaceutical company for its recombinant human hyaluronidase enzyme, ALT-B4, in exchange for an up-front payment of $13 million.
<p>Shares of Audentes Therapeutics Inc. (NASDAQ:BOLD) were trading pre-market at $58.97, up $30.36, or 106% on word of the takeover by Astellas Pharma Inc., which is paying $60 per share in cash for an equity value of about $3 billion.</p>
Stem cell biotech firm Novoheart Holdings Inc., of Vancouver, British Columbia, is partnering with Astrazeneca plc, of Cambridge, U.K., to co-develop a human-specific in vitro, functional model of heart failure with preserved ejection fraction.
Heart failure with preserved ejection fraction (HFpEF), also known as diastolic heart failure, accounts for roughly half of all heart failure cases worldwide. The condition, which occurs when the ventricles do not relax as they fill with blood following heart muscle contractions, is especially common in elderly women, striking up to 10% of those over 80 years old. Now stem cell biotech firm Novoheart Holdings Inc., of Vancouver, British Columbia, is partnering with Astrazeneca plc, of Cambridge, U.K., to co-develop a human-specific in vitro, functional model of HFpEF. The goal is to give drug researchers critical clues of a drug candidate’s efficacy before it is tested in patients.
Baxter International Inc., of Deerfield, Ill., has entered an agreement to acquire Seprafilm adhesion barrier and related assets from Paris-based Sanofi SA. The expected price at closing is $350 million, with the transaction anticipated to wrap up in the first quarter of 2020.
In its second large deal of the calendar year, Neurocrine Biosciences Inc. acquired the rights to Xenon Pharmaceutical Inc.’s selective sodium channel inhibitor for treating epileptic encephalopathy. Xenon receives $30 million up front, $20 million in equity and up to $1.7 billion in potential development, regulatory and commercial milestone payments.
HONG KONG – Seoul, South Korea-based GI Innovation Inc. has licensed to Nanjing, Jiangsu-based Simcere Pharmaceutical Co. Ltd. rights to its immunotherapy drug candidate, G1-101, a bispecific CD80/interleukin2 (IL-2) variant fusion protein.