Five Prime Therapeutics Inc. said it's licensing a family of monoclonal antibodies (Mabs) to Seattle Genetics Inc. for inclusion in new early stage cancer-killing antibody-drug conjugate (ADC) candidates, all directed to a single target. The deal holds $5 million up front for Five Prime, plus up to $525 million in milestone payments for the first two candidates. South San Francisco-based Five Prime's shares (NASDAQ:FPRX) rose about 18% on the deal, which interim CEO William Ringo said allows the firm "to realize value from our preclinical pipeline while prioritizing our clinical investments based on upcoming data readouts."
Dublin-based Medtronic plc acquired privately held Digital Surgery, which is focused on surgical artificial intelligence (AI), data analytics, and digital education and training. The companies did not release the terms of the deal. Medtronic plans to integrate Digital Surgery’s AI technology into its robotic platform and across its portfolio.
A little more than two years after first licensing U.S. commercial rights to the Nucynta (tapentadol) pain drug franchise from Depomed Inc., specialty pharma Collegium Pharmaceutical Inc. is acquiring those rights from Depomed successor Assertio Therapeutics Inc. for $375 million in cash, less royalties paid to Assertio in 2020. The deal, which includes both extended-release (ER) and immediate-release formulations of the drug, is expected to close by Feb. 14. It will be financed with $325 million in committed debt financing.
HONG KONG – Singapore molecular diagnostics group Inex Innovate Pte. Ltd. has inked a deal to have its in-vitro diagnostic (IVD) kit for the detection of ovarian cancer distributed in Taiwan. The value of the deal with the New Taipei City, Taiwan-based electronics and med-tech distributor Inalways Corp. is subject to annual minimum order quantities and milestones in relation to regulatory approvals.
Timber Pharmaceuticals LLC, a startup created by New Jersey-based investment and operating firm Tardimed Sciences LLC, said it's poised to make a fresh leap into the public market this year with plans to take over Biopharmx Corp.'s NYSE listing in a new reverse merger deal.
The pending Abbvie Inc. merger with Allergan plc, expected to close in the first quarter, brought good tidings to another “A” company on Monday, allowing Astrazeneca plc to regain global rights to its late-stage Crohn’s disease and ulcerative colitis (UC) drug, brazikumab.
The pending Abbvie Inc. merger with Allergan plc, expected to close in the first quarter, brought good tidings to another “A” company on Monday, allowing Astrazeneca plc to regain global rights to its late-stage Crohn’s disease and ulcerative colitis (UC) drug, brazikumab, an anti-IL-23 therapy that was out-licensed to Allergan in a $1.27 billion deal in 2016.
SANTA CLARA, Calif. – Diabetes seems likely to be the first area to really show concrete products and results for the ambitious Verily Life Sciences, which is the med-tech business of Mountain View, Calif.-based Google parent Alphabet Inc. However, its two major diabetes partners both have been rethinking the relationship.
HONG KONG – In less than a year, China-based Shanghai Miracogen Inc. has extended its partnership with Oss, the Netherlands based Synaffix BV for a second antibody-drug conjugate (ADCs) candidate. The new deal is similar to one signed last year in that it gives Miracogen nonexclusive rights to Synaffix’s Glycoconnect and Hydraspace ADC technologies for use in a second clinical candidate.
BEIJING – In a deal that adds another clinical-stage program to its pipeline, U.S.-China biotech Oncologie Inc. has picked up global rights to phase II-ready anti-DLL4/VEGF bispecific antibody navicixizumab from London-based Mereo Biopharma Group plc.
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