I-Mab Biopharma Co. Ltd. has regained full rights to its CD47 antibody program from Abbvie Inc., including lemzoparlimab, the most advanced candidate. The move, disclosed in a Sept. 22 U.S. SEC filing, eliminates the potential $1.295 billion in milestones associated with the amended collaboration deal signed in 2022.
I-Mab Biopharma Co. Ltd. has regained full rights to its CD47 antibody program from Abbvie Inc., including lemzoparlimab, the most advanced candidate. The move, disclosed in a Sept. 22 U.S. SEC filing, eliminates the potential $1.295 billion in milestones associated with the amended collaboration deal signed in 2022.
A hot biopharma research approach and an equally hot therapeutic area came together in the potential $2.7 billion deal that pairs artificial intelligence (AI) company Valo Health Inc. with Novo Nordisk A/S, which will strive to advance new treatments for cardiometabolic diseases.
Abpro Corp. is making another attempt to go public, this time by merging with Atlantic Coastal Acquisition Corp. II. The merger would put Abpro’s company value at $725 million. Atlantic Coastal is a special purpose acquisition company (SPAC) that went public in January 2022. Its stock (NASDAQ:ACAB) closed Sept. 22 at $10.63 per share.
Inventiva SA is getting $10 million up front and the possibility of $231 in clinical, regulatory and commercial milestones by exclusively licensing its nonalcoholic steatohepatitis (NASH) candidate, lanifibranor, to Hepalys Pharma Inc. to sell in Japan and South Korea, two massive markets for the indication.
Everest Medicines Ltd. is in-licensing Kezar Life Sciences Inc.’s phase II autoimmune disease candidate, zetomipzomib in a deal worth $132 million for greater China, South Korea and southeast Asia rights. Kezar’s lead molecule zetomipzomib (KZR-616) is a first-in-class, selective immunoproteasome inhibitor with broad therapeutic potential across multiple autoimmune diseases.
Merck KGaA has entered deals that could bring U.K. artificial intelligence companies Benevolentai Ltd. and Exscientia plc more than $1.2 billion. Oxford, U.K.-based Exscientia and Merck will collaborate to find three small-molecule candidates in oncology, neuroinflammation and immunology. Exscientia is getting $20 million up front and could bring in $674 million in milestones payments.
Peptidream Inc. and Genentech Inc., a Roche Holding company, signed a deal worth up to $1 billion to discover and develop macrocyclic peptide-radioisotope (peptide-RI) drug conjugates. Peptidream, of Kawasaki, Japan, will use its peptide discovery platform system technology to discover, optimize and develop macrocyclic peptide candidates for use as peptide-RI drug conjugates against targets of interest to Genentech. Genentech will pay Peptidream an up-front payment of $40 million and up to $1 billion in potential development, regulatory, and commercial-based milestones. In addition, Peptidream is eligible to receive tiered royalties on net sales (ex-Japan) of any products arising from the collaboration.
Biopharma deal values through August are down 13.05% year-over-year, while the number of deals has fallen by 18.51% compared to 2022. M&A value, meanwhile, is down just 3.6% from last year. Through August, 2023 saw 885 biopharma deals worth $111.87 billion, compared to 1,086 deals totaling $128.66 billion in the same period in 2022. The first eight months of 2021 saw 1,386 deals worth $121.22 billion, 1,381 deals valued at $129.96 billion in 2020 and 1,051 deals worth $111.93 billion in 2019.
Insilico Medicine Inc. struck an out-licensing deal with Exelixis Inc. for its small-molecule USP1-inhibitor candidate called ISM-3091, the company said on Sept. 12, standing to gain $80 million in up-front payments.
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