San Clemente, Calif.-based ICU Medical Inc. has acquired Minneapolis-based Pursuit Vascular Inc. for $75 million and an additional, undisclosed earn-out payment that would be due in 2021. In the deal, it gains the Clearguard HD Antimicrobial Barrier Cap, which is the only U.S.-marketed device that's been shown to reduce central line-associated bloodstream infections in hemodialysis patients.
Allogene Therapeutics Inc., a South San Francisco-based company developing off-the-shelf allogeneic T-cell therapies for cancer, is taking a 25% stake in Notch Therapeutics Inc., paying the Canadian startup $10 million up front in an exclusive deal to research and develop new induced pluripotent stem cell (IPSC)-based CAR T therapies. The partners will initially focus on developing next-generation treatments for non-Hodgkin lymphoma (NHL), leukemia and multiple myeloma.
Tech giant Google LLC is taking aim at the Apple Watch with its plan to acquire wearables pioneer Fitbit Inc., of San Francisco, for $2.1 billion, or $7.35 per share, in an all-cash transaction expected to close sometime next year.
Stryker Corp. is making another big buy, this time picking up Wright Medical Group NV, of Amsterdam, for a total enterprise value of about $5.4 billion. The deal is expected to close in the second half of 2020, and its value exceeds Stryker's previous large deal – that of Leesburg, Va.-based K2m Group Holdings Inc. in 2018 for $1.4 billion.
HONG KONG Canadian company Pascal Biosciences Inc., headquartered in Vancouver, and South Korean biotech Y-biologics Inc., based in Daejeon, have signed a research collaboration agreement for the discovery and development of bispecific antibodies for the treatment of leukemia.
HONG KONG South Korean AI-based biotech Azoth Bio Inc., of Seongnam, Gyeonggi-do, and biopharmaceutical venture Wellmarker Bio Co. Ltd., based in Seoul, have signed a memorandum of understanding for cancer drug R&D and commercialization. Under the agreement, the two entities will use Azoth's AI-powered platform to develop Wellmarker's cancer treatment candidates.
When the time was right to make a powerful Western biotech welcome in China, Beigene Ltd. was ready when Amgen Inc. came calling. Its massive $2.7 billion cash equity investment in Beigene buys Amgen an oncology footprint in China.
RNAi specialist Dicerna Pharmaceuticals Inc.'s chief operating officer, James Weissman, told BioWorld that scientists inside and outside of the company have come to believe in what's called "the X hypothesis" in hepatitis B virus (HBV). "My view, though, as a person who has been in the pharmaceutical industry for decades, is who cares, anyway?" he said as long as the drug works. He pointed out that, with the cholesterol therapy Lipitor (atorvastatin calcium) from New York-based Pfizer Inc., where he served in business development and marketing, "everybody had a different theory for why it lowered the incidence of heart disease. Nobody knew with certainty."
Pandion Therapeutics Inc.'s deal with Astellas Pharma Inc. brings as much as $45 million in up-front money and payments related to research and preclinical activities, with potentially more than $750 million in development and commercial milestone rewards to come, plus royalties if products reach the market.
HONG KONG – South Korean biotech company Qurient Co. Ltd. has inked a joint venture (JV) foundation deal involving Germany's Max Planck Society (MPG), of Munich, and Lead Discovery Center GmbH (LDC) in Dortmund, as well as the 1988 Nobel laureate and biochemist Robert Huber.