Vir Biotechnology Inc.’s focus will look a little different for the latter half of 2024, as the San Francisco-based firm disclosed a restructuring that will cut about a fourth of its workforce and phase out programs targeting influenza and COVID-19 as well as vaccines developed using its T-cell-based viral vector platform.
Tokyo-headquartered Otsuka Pharmaceutical Co. Ltd. said Aug. 1 that it will acquire Boston-based Jnana Therapeutics Inc. through a potential $1.125 billion M&A deal. Under the terms, Otsuka will work to close the transaction by the third quarter of 2024, with $800 million paid out to Jnana shareholders, along with up to $325 million in additional development and regulatory milestones payments.
Stryker Corp. continued its recent buying spree with the purchase of Molli Surgical Inc., a company that develops wire-free soft tissue localization technology for breast-conserving surgery. Styker said Molli’s offerings strengthen its advancing surgical solutions in breast cancer care.
Ideaya Biosciences Inc. bought global rights to Biocytogen Pharmaceuticals Co. Ltd.’s cancer-targeting bispecific antibody-drug conjugate (bsADC) program in a deal reaching up to $406.5 million. Announced July 31, San Francisco-based Ideaya agreed to license-in global rights to Biocytogen’s B7H3/PTK7 bispecific ADC program with topoisomerase-I (TOP1) payload to develop as either a monotherapy or combination therapy for solid tumors.
Instil Bio Inc. plans re-energize the company by in-licensing the development and commercial rights to antibodies outside of China from Shanghai-based Immuneonco Biopharmaceuticals Inc. In return, Immuneonco is getting an undisclosed up-front payment and the chance for near-term payments of up to $50 million.
Triastek Inc., of Nanjing, China, scored a potential $1.2 billion collaboration and platform technology license deal with Biontech SE to manufacture oral RNA therapeutics with 3D printing technology.
SK Bioscience Co. Ltd. signed a simple agreement for a future equity (SAFE) deal totaling $2 million with Hingham, Mass.-based Sunflower Therapeutics PBC on July 25 to secure both Sunflower’s equity and its yeast-based protein manufacturing technology. The conditional agreement will grant SK Bioscience future equity rights in Sunflower without the need for immediate valuation, allowing for minimal investment.
The dealmaking continues at Boehringer Ingelheim GmbH as it plans to buy Nerio Therapeutics Inc. for $1.3 billion. The German company is bolstering its cancer programs with the Nerio acquisition, which will be added to multibillion-dollar deals cut earlier this year for cancer immunotherapies and nonalcoholic or metabolic dysfunction-associated steatohepatitis (NASH/MASH) treatments.
GSK plc and Flagship Pioneering Inc. have entered a collaboration to discover and develop a portfolio of therapeutics and vaccines for respiratory and immunology indications.
Ipsen SA, of Paris, struck a $461 million deal with Day One Biopharmaceuticals Inc. for ex-U.S. rights to tovorafenib, an oral drug for pediatric brain tumor that gained U.S. FDA accelerated approval April 23 as Ojemda (tovorafenib).
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