Biontech SE and Duality Biologics Co. Ltd. have progressed BNT-323/DB-1303 to pivotal phase III trials, beginning in China in patients with hormone receptor-positive and HER2-low metastatic breast cancer.
What had been viewed as a major catalyst for Gilead Sciences Inc. going into 2024 turned into a disappointment on the stock market, as antibody-drug conjugate Trodelvy (sacituzumab govitecan) failed to meet the overall survival primary endpoint in the phase III Evoke-01 study in previously treated metastatic non-small-cell lung cancer (NSCLC).
The landscape of biopharma deals and M&As has seen a transformative shift, with a year-over-year drop in transaction numbers while value has increased. Overall, biopharma deals saw an uptick in value of nearly 6%, and biopharma M&As concurrently soared 80% higher in value than the previous year.
Korean confectionary company Orion Holdings Inc. is growing its biotech presence by purchasing a majority stake of 25% in one of the hottest Korean antibody-drug conjugate developers, Legochem Biosciences Inc., although stocks dropped on the news. Under the contract announced Jan. 15, Seoul-headquartered Orion agreed to acquire a 25.73% stake in Daejeon-based Legochem by securing about 9.36 million shares for a total of ₩548.7 billion (US$412.11 million) by the deadline of March 29, 2024.
Major contract research development and manufacturing organizations (CDMO) out of Asia are announcing plans to ramp up production and antibody-drug conjugate (ADC) capabilities worldwide.
Biocytocgen Pharmaceuticals (Beijing) Co. Ltd. has entered into an exclusive option and license agreement with Radiance Biopharma Inc., granting Radiance an option to license from Biocytogen a first-in-class fully human anti-HER2/TROP2 bispecific antibody-drug conjugate (BsADC).
While the value of partnerships and collaborations have climbed mostly upward in recent years, the most impressive increase has been seen with deals that are worth $1 billion or more – led in 2023 with a $22 billion antibody-drug conjugate pact between Daiichi Sankyo Co. Ltd. and Merck & Co. Inc.
Major contract research development and manufacturing organizations (CDMO) out of Asia are announcing plans to ramp up production and antibody-drug conjugate (ADC) capabilities worldwide.
Three months out from its first $1 billion deal with Biontech SE for an antibody-drug conjugate (ADC), Suzhou, China-based Medilink Therapeutics Co. Ltd. clinched another potential $1 billion ADC deal, but this time with Roche Holding AG.
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