Novartis AG has forged even stronger links with Beigene Ltd., taking an option on the latter’s late-stage TIGIT inhibitor cancer immunotherapy ociperlimab in a deal worth up to $1 billion. Basel, Switzerland-based Novartis will pay the Beijing-based pharma $300 million up front in the option, collaboration and license agreement plus up to $700 million if it exercises its option before late 2023.
Although 2021 med-tech deal volume is 13% higher than last year, the deals represent less than half the value recorded in 2020. The industry has completed 1,576 deals, including licensings, collaborations and joint ventures, through mid-December of 2021. They are valued at $2.13 billion. A total of 573 M&As, on the other hand, have reached $144.75 billion, a 282% rise over 2020.
Genfit SA’s global development and commercialization deal with Ipsen Pharma SA for phase III-stage elafibranor in primary biliary cholangitis (PBC) – plus a separate arrangement for rights to an asset earlier in development from Genoscience Pharma SA – represent “the logical next steps in the implementation of a strategy that we outlined to you about 18 months ago,” Genfit CEO Pascal Prigent said during a conference call with investors.
Qilu Pharmaceutical Co. Ltd. licensed rights to AB-729, an RNA interference (RNAi) therapeutic from Arbutus Biopharma Corp., in a deal worth up to $300 million. Qilu obtained rights to develop and commercialize the phase II asset for the treatment of hepatitis B (HBV) in mainland China, Hong Kong, Macau, and Taiwan. Under terms of the agreement, Qilu will pay Arbutus $40 million up front, as well as up to $245 million in development, regulatory and sales milestones. In addition, Qilu will make a $15 million equity investment in Arbutus at a price of $4.19 per share.
PERTH, Australia – It’s been a year that Mesoblast Ltd. might like to forget. The company’s stock dropped 17% on the news that Novartis AG will terminate its licensing agreement with Mesoblast for remestemcel-L. The decision puts an end to an exclusive global licensing deal Mesoblast inked with Novartis in November 2020 for the development, manufacture and commercialization of the mesenchymal stromal cell product, with an initial focus on acute respiratory distress syndrome, including that associated with COVID-19.
Royal Philips NV has signed an agreement to acquire Vesper Medical Inc., a U.S.-based developer of minimally invasive peripheral vascular devices. The deal expands Philips’s portfolio of technologies for the treatment of deep venous disease. The transaction is expected to be completed in the first quarter of 2022. Financial details were not disclosed.
Regor Therapeutics Group and Eli Lilly and Co. have inked a collaboration and licensing deal to co-develop therapies for metabolic disorders in a deal worth more than $1.5 billion. Under terms of the agreement, Lilly is gaining access to Regor IP to support its development of therapies for obesity and diabetes.
Cansino Biologics Inc. has entered a development and commercial supply partnership with Aerogen Ltd. for an inhalable version of its COVID-19 vaccine, Convidecia, also known as Ad5-nCoV. Cansino will combine Convidecia with Aerogen’s vibrating mesh aerosol drug delivery technology to produce a consistent droplet size for optimal lung deposition.
Avanos Medical Inc. is acquiring Orthogen Rx Inc. for $160 million in a bid to strengthen its chronic pain portfolio. China led the contribution to India’s med-tech imports with ₹91.12 billion (US$1.2 billion) worth of goods in the 2021 fiscal year (April 2020 to March 2021), according to an analysis of data from India’s Department of Commerce by the Association of Indian Medical Device Industry (AIMED).
DUBLIN – Immatics NV is banking $150 million up front and could earn up to $770 million more in development, regulatory and commercial milestones from a licensing deal with Bristol Myers Squibb Co. involving IMA-401, its lead bispecific engineered T-cell receptor (TCR).
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