Two big pharma firms placed high offers on Dec. 26 to acquire companies focused on radiopharmaceuticals and cell therapies in what Evercore ISI analysts are calling a “good sign for the end of the year.”
Elpiscience Biopharma Ltd. is out-licensing to Astellas Pharma Inc. two preclinical bispecific macrophage engagers – ES-019, an anti-PD-L1/SIRPα bispecific antibody, and another unnamed program – in a deal worth up to $1.7 billion. The deal marks the Shanghai-based company’s first out-licensing deal, Elpiscience CEO Darren Ji told BioWorld, noting that Astellas will have global rights to both molecules with a potential to in-license two more.
Lianbio Co. Ltd. is out-licensing NBTXR-3 to Janssen Pharmaceutical NV to develop and commercialize the radioenhancer in China, South Korea, Singapore and Thailand. Earlier this month, Tang Capital’s Concentra Biosciences LLC lodged a proposal to acquire Lianbio for $465 million, which the company’s shareholders rejected.
Legochem Biosciences Inc. signed a $1.7 billion licensing deal with Janssen Biotech Inc. for its Trop2-directed antibody-drug conjugate (ADC), closing the biggest technology transfer deal in Korean biotech history after Chong Kun Dang Pharmaceuticals Corp.
Two big pharma firms placed high offers on Dec. 26 to acquire companies focused on radiopharmaceuticals and cell therapies in what Evercore ISI analysts are calling a “good sign for the end of the year.”
Adam Lenkowsky, chief commercial officer for Bristol Myers Squibb Co. (BMS), said his firm plans to launch Karxt (xanomeline-trospium) in the U.S. as soon as it’s approved by the U.S. FDA, and “expect[s] to accumulate sales in early 2025.” BMS tied a bow on the year by disclosing its plan to pay $330 per share to take over Karuna Therapeutics Inc. in a deal valued at $14 billion to bring aboard Karxt, which acts as a dual M1/M4 muscarinic acetylcholine receptor agonist. The FDA has assigned Sept. 26, 2024, as the PDUFA date for Karxt as a new treatment for schizophrenia in adults.
A threat to biopharma innovation arrived at a larger scale in 2023 in the form of greater U.S. FTC scrutiny, calling into question the legitimacy of certain M&As and deals.
The spate of recent deals involving antibody-drug conjugates (ADC) continues in a field composed of record-breaking agreements in 2023. The newest of the deals were focused on Asia. GSK plc entered a license deal for the exclusive rights for clinical development and commercialization of Hansoh Pharmaceutical Co. Ltd.’s B7-H3-targeted ADC, HS-20093. Also, South Korea’s Dong-A ST Co. Ltd. is expanding into the ADC space by acquiring Abtis Co. Ltd. and its Abclick platform for ADC drug development.
Compugen Ltd. has entered another collaboration, this time exclusively licensing a preclinical antibody program against an IL-18 binding protein with Gilead Sciences Inc. Compugen will handle ongoing preclinical development and a phase I study of COM-503 to treat tumors, then Gilead receives to sole right to further continue developing the asset. Compugen is getting an up-front $60 million and is eligible for a $30 million milestone payment should the IND clear in 2024. Compugen also is eligible for $758 million in development, regulatory and commercial milestones, putting the deal value at $848 million.
October marked a milestone in biopharma history, with Daiichi Sankyo Co. Ltd. and Merck & Co. Inc.’s $22 billion deal the largest in BioWorld’s records going back to 2014. Tokyo-based Daiichi is granting rights to three of its DXd antibody-drug conjugate candidates for the treatment of multiple solid tumors: ifinatamab deruxtecan, patritumab deruxtecan and raludotatug deruxtecan. The companies will co-develop and co-commercialize the three candidates worldwide, excluding Japan, where Daiichi retains exclusive rights.
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