Sotio Biotech AS and Biocytogen Pharmaceuticals Co. Ltd. are partnering to discover antibody-drug conjugates (ADCs) via an option and license agreement worth up to $325.5 million plus sales royalties. The deal grants Sotio of Prague, Czech Republic, the option to license multiple fully human bispecific antibodies generated with Biocytogen’s Renlite platform, which Sotio will use to develop next-generation ADCs targeting solid tumors.

Orum Therapeutics Inc. struck a potential $945 million (₩1.3 trillion) deal with Vertex Pharmaceuticals Inc. to discover novel degrader antibody conjugates (DAC) as targeted conditioning agents for use with gene editing, including Vertex’s gene therapy, Casgevy (exagamglogene autotemcel).

Biopharma deal value in June decreased to $12.82 billion, down from $18.76 billion in May, $15.28 billion in April, and $27.9 billion in January. However, total deals from January through June are trending higher than last year, with $97.09 billion raised in the first half of 2024, 10.5% more than the $87.82 billion deal value in the same period in 2023. The monthly average for 2024 deals is now $16.27 billion, slightly lower than the $18.14 billion monthly average in 2023.

The lively antibody-drug conjugate (ADC) space chalked another collaboration as Taipei, Taiwan-based Foreseen Biotechnology Co. Ltd. scored a global licensing agreement worth as much as $1.03 billion with Ipsen SA, of Paris, for antibody-drug conjugate FS-001, which is said to bear first-in-class potential. The drug takes aim at a novel tumor-associated antigen that is overexpressed in many solid tumors and plays a critical role in tumor proliferation and metastasis, the companies said.

Amylyx Pharmaceuticals Inc.’s acquisition of GLP-1 receptor antagonist avexitide for $35.1 million from Eiger Biopharmaceuticals Inc. could bring the firm “to the forefront of the obesity and diabetes drug landscape in a unique way,” said H.C. Wainwright analyst Andrew Fein. Co-CEO and co-founder Justin Klee said the deal came after Amylyx checked out “hundreds of assets” over the last few years, and its closing brought added attention to phase III-ready, first-in-class avexitide.

Ligand Pharmaceuticals Inc. is adding one more income stream to its portfolio, with the $100 million acquisition of Apeiron Biologics AG, owner of royalty rights to Qarziba, a treatment for high risk neuroblastoma that is currently marketed in 35 countries and is en route to approval in the U.S.

In the third-largest acquisition announced this year, pharma giant Eli Lilly and Co. is buying oral integrin therapies developer Morphic Holding Inc. for $3.2 billion. Morphic stock (NASDAQ:MORF) got a tremendous boost from the acquisition, with shares closing 75% upward at $55.74 each on July 8, the day the deal was announced.

Seoul, South Korea-based Genexine Co. Ltd. plans to merge with privately held EPD Biotherapeutics Co. Ltd. by October 2024 to build a pipeline of novel targeted protein degradation therapeutics with EPD Bio’s BioPROTAC platform technology.