Illumina Inc. and Merck & Co. Inc. are partnering to commercialize tests identifying genetic mutations used in the assessment of homologous recombination deficiency (HRD). Patients whose tumors are HRD-positive may be eligible for targeted chemotherapy treatment by a class of precision medicines called PARP inhibitors. The companies will develop tests utilizing Illumina's Trusight Oncology 500 assay for genomic profiling, which is designed to identify 523 known and emerging tumor biomarkers.
A new deal between Adaptimmune Therapeutics plc and Roche Holding AG's Genentech Inc. aims to develop allogeneic cell therapies for up to five shared cancer targets. Should the agreement win regulatory clearance, still pending, Adaptimmune will receive $150 million up front and additional payments of $150 million over five years. In addition, it could be eligible for development, regulatory and commercial milestones payments from Roche exceeding $3 billion, plus royalties.
Innovent Biologics Inc. has inked a $312 million licensing deal for the development and commercialization of Genfleet Therapeutics Inc.’s KRAS G12C inhibitor, GFH-925, in mainland China, Hong Kong, Macau and Taiwan. Innovent also has additional option-in rights for global development and commercialization.
Abbott Laboratories, has acquired Walk Vascular LLC, a deal that brings two devices for peripheral thrombectomy to the Abbott portfolio for peripheral artery disease (PAD). Walk’s two Jeti peripheral thrombectomy devices are cleared in the U.S. for break-up and removal of soft emboli and thrombus, but are in trial for deep-vein thrombosis (DVT) as well, suggesting that Abbott Park, Ill.-based Abbott has availed itself of a technology that could take a big bite out of one of the deadliest and costliest of all circulatory system pathologies.
After weeks of heated rumors, Baxter International Inc. and Hillrom Holdings Inc. reported they have reached terms on a blockbuster deal. Baxter will acquire Hillrom for $156 per share in cash, giving the transaction an equity value of $10.5 billion and a total enterprise value of $12.4 billion, after factoring in the assumption of debt. The deal is expected to close in early 2022. The acquisition continues the fast and furious pace of med-tech acquisitions in 2021, a sharp change from the lethargic deal flow seen in 2020. So far, the sector has seen 407 transactions this year, more than four times the 97 posted in the pharma segment.
Swiss biotech Polyphor AG, left hindered by failures in advanced clinical programs it had pursued in breast cancer and bacterial pneumonia, has found a path forward in a planned merger with Enbiotix Inc. The combination would put Enbiotix Chairman and CEO Jeff Wager in charge of a publicly listed company advancing a combined portfolio of programs for rare disease and cancer, including Polyphor’s inhaled antibiotic, murepavadin, for infections in people with cystic fibrosis.
The board of rare disease specialist Swedish Orphan Biovitrum AB has accepted a takeover bid from the U.S. private equity firm Advent International and Aurora Investment, an affiliate of capital markets group GIC, valuing it at about SEK69.4 billion (US$8 billion).
Zhejiang Jingxin Pharmaceutical Co. Ltd. has in-licensed JBPOS-0101, a class I new drug for epilepsy, from Bio-Pharm Solutions Co. Ltd. for mainland China, Hong Kong, and Macau. The partnership could bring South Korea’s Bio-Pharm more than $40 million, including an up-front payment of $5 million, milestone payments of up to $35 million, and potential royalties on future sales.
Beyondspring Inc. and Jiangsu Hengrui Pharmaceuticals Co. Ltd. entered a ¥1.3 billion (US$200 million) deal to commercialize and co-develop the former’s selective immunomodulating microtubule-binding agent plinabulin in greater China.
Genome Medical Holding Co. put its competitors on notice with two big moves designed to position the company as a leader in genetic testing and virtual genomic care. The company acquired Genematters LLC, a provider of telegenetics counseling, and closed a $60 million series C fundraising round. Together, the moves stand to significantly expand Genome Medical’s digital infrastructure and clinical expertise in genetics services.
RSS
