While med-tech deals were well below average the past two months, cumulative values are up 47.67% over the same period last year. Through October, the total worth of med-tech deals reached $9.97 billion, rising from $6.75 billion in the corresponding period in 2022.
South Korea’s Chong Kun Dang Pharmaceuticals Corp. said that it struck a deal potentially worth $1.3 billion with Swiss pharma giant Novartis AG for its CKD-510 candidate for neurological and cardiovascular diseases, propelling its shares upward 26.11% by market closing of Nov. 6. With the “largest ever” deal in its history, shares of the Seoul-based pharmaceutical (KOSPI:185750) on the Korea Exchange rose by 26.11%, or ₩26,500, closing at ₩128,000 ($98.70).
Demand for its COVID-19 vaccine might be declining, but Biontech SE is putting its revenue to good use, picking up rights to a bispecific antibody candidate from Biotheus Inc. in exchange for $55 million up front and potentially more than $1 billion in development, regulatory and sales milestones.
Israeli biotech Biolinerx Ltd. will hand off the rights to its stem cell mobilizer, motixafortide, in Asia to China’s Gloria Biosciences Co. Ltd. via an out-licensing deal worth up to $280 million, news that sent stocks soaring nearly 13% on Oct. 31.
Hitching onto the emerging drug class of degrader-antibody conjugates (DAC), U.S. pharma giant Bristol Myers Squibb Co. (BMS) is picking up rights to the U.S. and Korean biotech Orum Therapeutics Inc.’s blood cancer candidate, ORM-6151, in a potential $180 million deal.
Demand for its COVID-19 vaccine might be declining, but Biontech SE is putting its revenue to good use, picking up rights to a bispecific antibody candidate from Biotheus Inc. in exchange for $55 million up front and potentially more than $1 billion in development, regulatory and sales milestones.
South Korea’s Chong Kun Dang Pharmaceuticals Corp. said that it struck a deal potentially worth $1.3 billion with Swiss pharma giant Novartis AG for its CKD-510 candidate for neurological and cardiovascular diseases, propelling its shares upward 26.11% by market closing of Nov. 6. With the “largest ever” deal in its history, shares of the Seoul-based pharmaceutical (KOSPI:185750) on the Korea Exchange rose by 26.11%, or ₩26,500, closing at ₩128,000 ($98.70).
Israeli biotech Biolinerx Ltd. will hand off the rights to its stem cell mobilizer, motixafortide, in Asia to China’s Gloria Biosciences Co. Ltd. via an out-licensing deal worth up to $280 million, news that sent stocks soaring nearly 13% on Oct. 31.
Astrazeneca plc is making a $220 million equity investment and tossing in $25 million up front to Cellectis SA as part of a new collaboration agreement. The deal is part of Astrazeneca’s efforts, including a July licensing agreement worth about $1 billion with Pfizer Inc., to delve deeper into gene therapy for treating cancer and rare diseases.
Drawn to the potential for improved selectivity and safety profiles of PARP-1-specific inhibitors over their first-generation counterparts, Merck KGaA signed an exclusive, worldwide license deal with Jiangsu Hengrui Pharmaceuticals Co. Ltd. worth up to €1.4 billion (US$1.5 billion) to gain access to the latter’s next-generation poly (ADP-ribose) polymerase (PARP)-1 inhibitor, HRS-1167.
RSS
