The field of peptides is exploding, Perpetual Medicines Corp. co-founder, chairman and CEO Kerry L. Blanchard recently told BioWorld, “with a projected growth rate far surpassing large and small molecules, and gene therapies. The area is underinvested, too, so this is a good opportunity to focus on peptide therapeutics.”
Announcing two licensing deals with Swiss pharma giant Novartis AG, Shanghai-based Argo Biopharmaceutical Co. Ltd. said on Jan. 7 that it stands to gain up to $4.165 billion for two of its cardiovascular assets combined. Marking the “first significant overseas out-licensing transaction in the RNAi field from a Chinese biotech company,” the deal includes an up-front payment of $185 million from Novartis to Argo.
Rhythm Pharmaceuticals Inc. is picking up LG Chem Ltd.’s oral small-molecule drug, LB-54640, for potentially $305 million, effectively growing its MC4R pipeline that houses U.S. FDA-approved Imcivree (setmelanotide) for genetic obesity disorders.
The field of peptides is exploding, Perpetual Medicines Corp. co-founder, chairman and CEO Kerry L. Blanchard recently told BioWorld, “with a projected growth rate far surpassing large and small molecules, and gene therapies. The area is underinvested, too, so this is a good opportunity to focus on peptide therapeutics.”
Three months out from its first $1 billion deal with Biontech SE for an antibody-drug conjugate (ADC), Suzhou, China-based Medilink Therapeutics Co. Ltd. clinched another potential $1 billion ADC deal, but this time with Roche Holding AG.
The field of peptides is exploding, Perpetual Medicines Corp. co-founder, chairman and CEO Kerry L. Blanchard recently told BioWorld, “with a projected growth rate far surpassing large and small molecules, and gene therapies. The area is underinvested, too, so this is a good opportunity to focus on peptide therapeutics.” Blanchard, who was most recently CEO of Shanghai-based Everest Medicines Ltd. and previous chief scientific officer (CSO) of China’s Innovent Biologics Co. Ltd., is now spearheading efforts to develop novel peptide therapeutics at his own biotech, Perpetual, founded in March 2023.
Incheon, South Korea-based Celltrion Inc. said on Jan. 2 that it reached an agreement with Asian health care investment firm CBC Group to partially sell off its Primary Care unit by March 2024 for ₩209.9 billion (US$160.7 million). Incheon, South Korea-based Celltrion Inc. said on Jan. 2 that it reached an agreement with Asian health care investment firm CBC Group to partially sell off its Primary Care unit by March 2024 for ₩209.9 billion (US$160.7 million).
Nearing the end of 2023, South Korea’s National Assembly approved hiked-up budgets for three of its major health care agencies. Its health policy think tank also forecast an uptick in industry exports in 2024.
A recent survey on the performance of publicly listed Korean health care firms in 2023 unveiled a still floundering med-tech sector, although local pharmaceutical companies seemed to rebound after the COVID-19 pandemic.
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.
