Biopharma deals during the second quarter of 2022 fell short of each of the last two years with 379 completed deals valued at $36.9 billion, but the year is still the strongest to date. Thanks to the record-breaking first quarter, deals in the first half of this year are ahead of all other years, reaching a total value of $93.8 billion, 6.5% more than 2020, the next highest first half.
Beigene Ltd. has formed a partnership with Innorna Co. Ltd. to jointly develop messenger RNA (mRNA)-based therapeutics. Shenzhen, China-based Innorna will get an undisclosed up-front payment and is also eligible to receive additional payments based on development, regulatory and commercial milestones, as well as tiered royalties. Beigene will maintain exclusive global rights to the mRNA candidates co-developed in the deal.
The Persona IQ combines a knee implant created by Zimmer Biomet Inc. with sensor technology developed by Canary Medical Inc. to capture performance data on range of motion, walking speed, step count and other orthopedic metrics. Liane Teplitsky, Zimmer Biomet’s president of global robotics likens the Persona IQ to a cardiac pacemaker, in this instance collecting important data on the knee implant so doctors working remotely can better understand how the device is performing post-surgery.
Shanghai Sanyou Medical Co. Ltd. will be working with Implanet SA to get the latter’s Jazz platform for treating spinal pathologies approved and distributed in China. “Through this partnership, Sanyou Medical will be Jazz’s exclusive distributor. We are currently working on obtaining registration in China with the authorities. We will have a better view on the commercial launch timing later this year,” Ludovic Lastennet, CEO and founder of Implanet, told BioWorld.
In a new licensing deal cut with Swedish Orphan Biovitrum AB (Sobi), ADC Therapeutics SA is getting a $55 million up-front payment and could receive $50 million more upon regulatory approval of Zynlonta (loncastuximab tesirine) in third-line diffuse large B-cell lymphoma by the European Commission.
Biopharma deals during the second quarter of 2022 fell short of each of the last two years with 379 completed deals valued at $36.9 billion, but the year is still the strongest to date. Thanks to the record-breaking first quarter, deals in the first half of this year are ahead of all other years, reaching a total value of $93.8 billion, 6.5% more than 2020, the next highest first half.
Orchestra Biomed Inc. struck a deal with Medtronic plc to develop a cardiac neuromodulation therapy as a potential integrated hypertension treatment for cardiac pacemaker patients. Medtronic also joined a $110 million series D round, led by RTW Investments, to invest in the biomedical company as it announced plans to list on the Nasdaq.
Enovis Corp. reported that it has completed its acquisition of Insight Medical Systems Inc., the developer of a wearable surgical navigation system to enhance surgeon performance during orthopedic procedures. Financial terms of the deal were not disclosed.
Beigene Ltd. has formed a partnership with Innorna Co. Ltd. to jointly develop messenger RNA (mRNA)-based therapeutics. Shenzhen, China-based Innorna will get an undisclosed up-front payment and is also eligible to receive additional payments based on development, regulatory and commercial milestones, as well as tiered royalties. Beigene will maintain exclusive global rights to the mRNA candidates co-developed in the deal.
Sumitovant Biopharma Ltd. subsidiary Urovant Sciences GmbH is out-licensing overactive bladder (OAB) treatment vibegron to Pierre Fabre Médicament to register and commercialize the drug in the EU, U,K, and Switzerland. Under the terms of the deal, Basel, Switzerland-based Urovant will receive up to $75 million in up-front payments, regulatory and sales milestones and royalties, while Urovant will retain full commercialization rights to vibegron in the U.S. and certain other markets.
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