Agios Pharmaceuticals Inc., a company that has until now revolved primarily around its FDA-approved acute myeloid leukemia drug, Tibsovo (ivosidenib), is selling that drug and the rest of its oncology business to Servier Pharmaceuticals LLC in a deal valued at up to $2 billion, plus royalties. The agreement includes $1.8 billion cash up front for the portfolio and as much as $200 million in regulatory milestone payments for the investigational glioma treatment vorasidenib.
LONDON – Sosei Heptares Ltd. has signed up Glaxosmithkline plc to take on the orphan G protein-coupled (GPCR) target GPR35, in a deal worth a potential $481 million.
In what could end up being a deal that tops $1 billion, Merck & Co. Inc. cut a collaboration and license agreement with Janux Therapeutics to find, develop and commercialize T cell engager immunotherapies for cancer patients.
HONG KONG – Peptidream Inc. inked a research collaboration with Amolyt Pharma SAS to test and optimize Peptidream’s growth hormone receptor antagonist (GHRA) peptides, with the aim of selecting a candidate to develop as a potential treatment for acromegaly.
By acquiring privately held Cadent Therapeutics Inc., Novartis AG gains full rights to Cadent’s allosteric modulator program, part of which the two companies began collaborating on in 2015, and all the company’s outstanding stock. Cambridge, Mass.-based Cadent will receive as much as $770 million, $210 million of it up front, plus $560 million in milestones.
The licensing deal with Glaxosmithkline plc (GSK) gives Surface Oncology Inc. “enough cash to take us through the next three years” and plenty of flexibility to continue its internal work, CEO Jeff Goater told BioWorld. GSK, of London, is gaining exclusive worldwide development and commercial rights to Cambridge, Mass.-based Surface’s preclinical program with SRF-813.
HONG KONG – Hummingbird Bioscience Pte. Ltd. is collaborating with artificial intelligence (AI) company Tempus Labs Inc. to advance HMBD-001, a differentiated anti-HER3 neutralizing antibody developed using Hummingbird's Rational Antibody Discovery platform, into clinical trials in HER3-driven cancers, including those that harbor neuregulin 1 (NRG1) fusions.
HONG KONG – Overland Pharmaceuticals Inc., a company created to bring innovative medicines to China, this week revealed the formation of two joint ventures intended to deliver on that mission, one with ADC Therapeutics SA and another with Allogene Therapeutics Inc.
Prevail Therapeutics Inc. won't be prevailing on its own. Eli Lilly and Co. is acquiring the gene therapy company for $880 million up front plus an earn-out of up to $160 million if Lilly can gain regulatory approval for at least one of Prevail's drugs.
With a $39 billion offer in hand, Alexion Pharmaceuticals Inc. is the target of what could be the third largest takeover to date of a pure play biotech company. At a 45% premium, the proposed transaction, which is expected to close in the third quarter of 2021, is largely applauded by analysts who point to three years of languishing stock prices despite the promise of the Boston-based company’s C5 complement franchise and a sturdy pipeline.
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