In what one analyst labeled as a “summer surprise,” Varian Medical Systems Inc. and Siemens Healthineers AG said they plan to combine in an all-cash transaction valued at $16.4 billion. Varian’s board has backed the agreement, which will see Siemens Healthineers pick up all outstanding shares for $177.50 per share in cash, representing a premium of about 42% to the 30-day volume weighted average closing price of Varian's common stock as of July 31. The transaction is expected to close in the first half of calendar year 2021.
In deals worth billions, Sanofi SA and Glaxosmithkline plc (GSK) have made new agreements this week to supply the U.S. and U.K. governments with a COVID-19 vaccine. The two companies also are in advanced discussions with the European Union to supply up to 300 million doses of a vaccine.
Sangamo Therapeutics Inc. continued its collaboration spree, signing up its sixth big pharma/biotech partner: Novartis AG. The three-target deal will use Sangamo's zinc finger protein transcription factors to up-regulate undisclosed genes to treat autism spectrum disorder and other neurodevelopmental disorders.
PERTH, Australia – Osprey Medical Inc. signed a deal with GE Healthcare that will see the company expand its global footprint for its Dyevert contrast minimization devices across Europe, Russia, the Middle East, Africa, Central Asia and Turkey. GE Healthcare will be the exclusive distributor in those markets, allowing Osprey to grow its commercial presence beyond the U.S. and Australia.
In a move that Lexicon Pharmaceuticals Inc. chief Lonnel Coats said will focus the company on its phase II neuropathic pain program, The Woodlands, Texas-based venture has agreed to sell one of its two approved products, the carcinoid syndrome diarrhea therapy Xermelo (telotristat ethyl), to Tersera Therapeutics LLC for $159 million in cash.
LONDON – Privately held U.K. biotech F-star Therapeutics Ltd. is gaining a Nasdaq listing via a reverse merger with Spring Bank Pharmaceuticals Inc., with F-star’s shareholders due to own 61% of the new entity, to be named F-star Therapeutics Inc.
HONG KONG - California-based Iacta Pharmaceuticals Inc. and Hong Kong-based Zhaoke Ophthalmology Pharmaceutical Ltd. have inked a definitive license agreement for two of Iacta’s products.
Terns Pharmaceuticals Inc., a NASH specialist based in San Francisco and Shanghai, has out-licensed the Greater China rights of its BCR-ABL inhibitor, TRN-000632, for treating chronic myeloid leukemia (CML) to Chinese pharma giant Hansoh Pharmaceutical Group Co. Ltd. to move the preclinical oncology asset to the clinic faster.
UCB SA, a Belgian company developing an antibody targeting a toxic protein tied to Alzheimer’s disease (AD), said Roche Holding AG has negotiated an exclusive global license to the potential therapy for $120 million up front, plus almost $2 billion in milestone payments following positive proof of concept for the anti-tau candidate, UCB-0107, in AD.
LONDON – Astrazeneca plc is broadening its antibody-drug conjugate (ADC) relationship with Daiichi Sankyo Co. Ltd. in a potential $6 billion development and commercialization deal.
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