Innocare Pharma Ltd. has signed a licensing agreement with Incyte Corp. for the exclusive rights to the monoclonal antibody Monjuvi (tafasitamab) for hematology and oncology indications in mainland China, Hong Kong, Macau and Taiwan. Under the terms of the deal, Innocare will pay Incyte an up-front fee of $35 million, as well as up to $82.5 million in potential development, regulatory and commercial milestones and tiered royalties.
Abclon Inc. has filled the missing link in its development of antibody-drug conjugates (ADCs) by partnering with Abtis Co. Ltd. and gaining access to its ADC linker.
Aurinia Pharmaceuticals Inc. has added two potential drugs to its pipeline targeting autoimmune and kidney-related diseases through an acquisition and a licensing deal. Victoria, British Columbia-based Aurinia is building on its first ever FDA approval at the beginning of the year, for Lupkynis (voclosporin) for treating active lupus nephritis in adults.
Inmagene Biopharmaceuticals Co. Ltd. has licensed rights from Kissei Pharmaceutical Co. Ltd. to develop and commercialize the spleen tyrosine kinase (Syk) inhibitor fostamatinib for all potential indications in China.
Memic Innovative Surgery Ltd. agreed to combine with Medtech Acquisition Corp. in a transaction expected to close in the fourth quarter of 2021. The deal establishes an eye-popping $1 billion pro forma valuation for the company, which received FDA clearance for its first device just four months ago.
Inhaled drugs developer Vectura Group plc has accepted a takeover bid from tobacco firm Philip Morris International Inc. (PMI), a move that has sparked revulsion from health campaigners but has been supported by investors. Shares in both firms ticked up in trading on Aug. 13 after Chippenham, U.K.-based Vectura accepted a bid worth around £1.1 billion (US$1.5 billion), rejecting a rival bid from U.S.-based private equity firm Carlyle Group.
The U.S. Federal Trade Commission (FTC) has made no secret of its intent to tighten its oversight of merger and acquisition (M&A) activity, an emphasis that has already been felt in the med-tech space. Soliton Inc., of Houston, said in its latest 8-K filing that the FTC wants to see more information about plans for the company to be acquired by Allergan Aesthetics plc, a demand that at the very least will delay – and potentially derail altogether – the acquisition.
Merz Therapeutics GmbH is partnering with Israeli startup Vensica Therapeutics Ltd. on the development of an ultrasound-assisted delivery catheter to deliver Xeomin (incobotulinumtoxinA) to the bladder wall. The catheter, currently in clinical trials for the treatment of overactive bladder (OAB), is expected to be available in the U.S. by 2025.
A total of 946 med-tech deals so far in 2021 are valued at $537.42 million, which pales in comparison to each of the last three years, although the volume is way ahead, indicating robust activity but a high number of deals with undisclosed terms.
Contrary to the broader markets, BioWorld’s Cancer Index is down by 22% this year, losing more than 7% throughout the month of July, despite oncology driving several high-money deals and accounting for 38%, the lion’s share, of financings. Both the Nasdaq Biotech Index and the Dow Jones Industrial Average are tracking similarly for the year, and are up by 13.2% and 15.2%, respectively, as of Aug. 10.
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