After operating off the grid for nearly two years, Oncore Biopharma Inc. has unveiled three recent deals to mark its presence in the hepatitis B virus (HBV) space in a big way.
Four months ago, Takeda Pharmaceutical Co. Ltd. took an option to develop and commercialize MGD010, a preclinical asset developed in-house by Macrogenics Inc. that uses its Dual-Affinity Re-Targeting (DART) technology to simultaneously engage the B-cell surface proteins CD32B and CD79B, targeting autoimmune diseases.
Seeking to further diversify its product lines, specialty pharma Amag Pharmaceuticals Inc. will pay $600 million in cash plus $75 million in stock, or approximately 3.2 million newly issued shares, to purchase privately held Lumara Health Inc. (previously K-V Pharmaceutical Co.). Lumara shareholders will receive another $350 million, contingent on the achievement of sales milestones.
With the current Ebola virus outbreak wreaking havoc in West Africa and generating headlines across the world, it's easy to forget that dozens of other pathogens cause even more illness and death around the world.
On a day when Attorney General Eric Holder revealed that he will resign once a successor is confirmed, a statement from the Department of Justice (DOJ) confirming that Shire Pharmaceuticals LLC paid a $56.5 million fine to resolve allegations about its marketing practices hardly shook the rafters.
Hours away from pricing its initial public offering (IPO), Civitas Therapeutics Inc. eschewed independence in favor of a marriage with Acorda Therapeutics Inc., which agreed to purchase the company for $525 million in cash.
Siteone Therapeutics Inc., incubated at Janssen Labs – Johnson & Johnson's external R&D hub – took a step toward independence by completing its initial equity financing.
Tracon Pharmaceuticals Inc. raised $27 million for its targeted cancer and ophthalmology therapies with a series B round that added New Enterprise Associates (NEA), Biomed Ventures and an undisclosed institutional investor to its global roster of investors, which include Jafco Co. Ltd., Switzerland's Nextech Invest Ltd., Brookline Investments, Arcus Ventures and Japan's BHP – all of whom also participated in the round.
With two more initial public offerings (IPOs) pricing Thursday – a $97.5 million home run by cystic fibrosis player Proqr Therapeutics BV and a $40.2 million infield fly by antibiotics developer Foamix Pharmaceuticals Ltd. – the ups and downs of the IPO market seemed analogous to the set-up for baseball's postseason play.
Although it might be premature to characterize the potential $200 million collaboration between Third Rock Ventures-backed Myokardia Inc. and Sanofi SA as a replicate of the pharma's early interest in Genzyme Corp. that led to that blockbuster acquisition, both partners referenced the relationship in describing their deal to discover and develop precision medicines targeting genetic heart disease.
