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.
Veloxis Pharmaceuticals A/S’ board chairman, Michael Heffernan, said investors will find out in “the next four weeks” more details related to the $1.3 billion takeover by Tokyo-based Asahi Kasei Corp., which gets control of Envarsus XR, an improved formulation of tacrolimus for prophylaxis of organ rejection in kidney transplant patients converted from tacrolimus and for use in de novo kidney transplant patients.
PARIS – Dentressangle Initiative SAS, of Lyon, France, is in talks to buy a majority stake in Marle International Holding SAS, an orthopedic implant contract manufacturer. The acquisition is said to be worth $880 million, although Dentressangle has not confirmed this amount. “We are looking forward to supporting the management team in achieving its long-term goal for Marle, of offering higher value-added services to its clients and pursuing target acquisitions,” Thierry Coloigner, managing partner for mid and large cap at Dentressangle, told BioWorld MedTech.
Huntington’s disease is a fatal hereditary disease that results in the progressive breakdown of nerve cells in the brain. It erodes a person’s physical and mental abilities, usually beginning in their 30s and 40s, and to date has no cure. Now Austin-based Asuragen Inc. is joining forces with Wave Life Sciences USA Inc., of Cambridge, Mass., to develop companion diagnostics (CDx) for Wave’s investigative allele-selective therapeutic programs targeting the genetic cause of the disease.
DUBLIN – Novartis AG is making a $9.7 billion bet that the economics of an siRNA-based drug can better those of monoclonal antibodies and thus provide it with a dominant position in a major but still emerging cardiovascular drug market. The Basel, Switzerland-based pharma made an $85 per share offer for The Medicines Co., which has taken inclisiran, an siRNA-based inhibitor of proprotein convertase subtilisin/kexin type 9 (PCSK9) to the brink of an approval in reducing the risk of a cardiovascular event – heart attack or stroke – in high-risk patients with cardiovascular disease or high levels of low-density lipoprotein cholesterol (LDL-C) who are inadequately controlled on current therapies.