Systimmune Inc. and Bristol Myers Squibb Co. have joined hands in a co-development deal for bispecific antibody drug conjugate (ADC) BL-B01D1 in a deal worth up to $8.4 billion. The deal falls on the heels of BMS acquiring Mirati Therapeutics in October 2023 for $4.8 billion to add to its oncology pipeline.
Kaneka Corp. has acquired Japan Medical Device Technology Co. Ltd. (JMDT), to expand its reach in the coronary stent business segment. Financial terms of the deal were not disclosed.
One of the largest med-tech deals of 2023 was wiped off the charts when Medtronic plc terminated a $738 million agreement to acquire South Korean wearable insulin patch maker Eoflow Co. Ltd., citing “multiple breaches” under its agreements, on Dec. 6.
South Korean pharmaceuticals Celltrion Inc. and Cyron Therapeutics Co. Ltd. are teaming up to discover and develop bispecific and trispecific antibodies, collectively called polyspecific antibodies, under the ₩1.158 trillion (US$882.38 million) joint research agreement inked on Dec. 6. Under the terms, privately held Daegu-based Cyron will discover and develop at least three polyspecific antibodies for blood and solid cancers pre-selected by Incheon-based Celltrion via Cryon’s CD-3 targeting T-cell engager platform that helps engage T cells to attack cancer cells.
Neuronetics Inc. gained expanded approval in Japan for its transcranial magnetic stimulation (TMS) system to treat major depressive disorder called the Neurostar TMS, helping the Malvern, Pa.-based company increase its footprint in Asia.
Samsung Bioepis Co. Ltd. will partner with South Korean biotech Intocell Inc. to develop antibody-drug conjugate (ADC) drugs, continuing the Samsung Group and the wider industry’s hunt for novel ADCs. Under the joint research agreement inked on Dec. 5, the Daejon-based ADC platform technology firm Intocell will supply the Songdo, Incheon-based Samsung Bioepis its linker technology, coined OHPAS, or ortho-hydroxy protected aryl sulfate, upon which Samsung Bioepis will develop ADC drugs for up to five cancer targets.
Abbisko Therapeutics Co. Ltd. has out-licensed China rights to its colony-stimulating factor 1 receptor inhibitor, pimicotinib, to Merck KGaA in a deal worth up to $605.5 million. Pimicotinib is in phase III trials in patients with tenosynovial giant cell tumors in China, the U.S., Canada and Europe.
Following its acquisition of Jounce Therapeutics Inc. for $95.6 million, Concentra Biosciences LLC lodged another proposal to acquire the U.S. and China biotech Lianbio Co. Ltd. The unsolicited and non-binding proposal filed Nov. 30 by San Diego-based Tang Capital Partners LP, Concentra’s parent firm, offered a 100% cash equity acquisition of the Shanghai- and Princeton, N.J.-based Lianbio at $4.30 per share, ringing up a deal worth around $465 million.
Broncus Holding Corp. subsidiary Broncus Hangzhou is acquiring Chinese medical device company Hangzhou Jingliang in the form of an equity transfer agreement for ¥5.4 million (US$758,000). The move will strengthen Broncus’ R&D capabilities in the flexible robotic space and will allow the company to offer pulmonology diagnostics and therapeutic solutions covering the complete product life cycle.
Connect Biopharma Holdings Ltd. has been seeking a partner for its atopic dermatitis candidate rademikibart, and it appears to have found the perfect partner in Simcere Pharmaceutical Group, which gains exclusive rights to develop, manufacture and commercialize rademikibart in China in a deal worth $120 million plus royalties.
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