Parties to Astrazeneca plc’s potential $1.8 billion takeover of Cincor Pharma Inc. are keeping mum about contingent value rights included in the deal for baxdrostat, the phase III-bound aldosterone synthase targeter in the works to treat hypertension and chronic kidney disease. Another acquisition that captured headlines as the J.P. Morgan Healthcare Conference launched in San Francisco: the $1.4 billion-plus agreement whereby Chiesi Farmaceutici S.p.A. will take ownership of Amryt Pharma plc. And there was more, as Ipsen SA pledged $952 million to make Albireo Pharma Inc. its own. Read More
Once a rarity, billion-dollar deals are now coming fast and furious. Now three have appeared in only a few days. Gene therapy developer Voyager Therapeutics Inc. and Neurocrine Biosciences Inc. continued a longstanding partnership by agreeing to develop treatments for neurological diseases and for three new programs with rare CNS targets. Cytomx Therapeutics Inc. and Moderna Inc. entered a deal worth a potential $1.24 billion to Cytomx for generating and developing treatments in oncology and non-oncology. In the third deal, Royalty Pharma plc acquired an interest in Ionis Pharmaceuticals Inc.'s royalty in Biogen Inc.'s Spinraza (nusinersen) and Novartis AG's pelacarsen for up to $1.125 billion. Read More
Trex Bio Inc., which kicked off 2022 with a big pharma partnership, is back at it again, starting the new year with a potential $1.1 billion agreement with original backer Eli Lilly and Co. targeting immune-mediated diseases. Under the terms, Trexbio gets $55 million up front, with Lilly picking up an exclusive worldwide license for candidates from three programs. Read More
In the wake of ongoing criticism over the U.S. FDA’s 2021 accelerated approval of Biogen Inc.’s Alzheimer’s drug, Aduhelm, the percentage of novel drugs receiving accelerated approval last year was the lowest it’s been since 2018. Read More
A drug that Novartis AG discontinued in fragile X syndrome in 2014 after it failed in two phase II/III trials has been in-licensed by neuroscience specialist Stalicla SA, which plans to revive the prospects of the glutamate receptor antagonist by applying its precision medicine technology to identify likely responders. Read More
Baili Biopharmaceutical Co. Ltd. has raised ¥990.47 million (US$146 million) on the Shanghai STAR Market. Its shares opened Jan. 6 at ¥28.75 apiece, surging over 30% its first trading day, and closing at ¥38.40 on Jan.9. Read More
Thirteen years since the research began, the projected return on investment in biopharmaceutical research and development fell to 1.2% in 2022, the lowest to date, according to the annual report by Deloitte. Read More
Aethon Therapeutics Inc. closed a $30 million series A round to develop a novel antibody-based therapeutic strategy for cancer, which relies on the concomitant use of small-molecule covalent inhibitors that form peptide-drug conjugates or beacons. Read More
New hires and promotions in the biopharma industry, including: Atreca, Azafaros, Curevac, Dunad, Evoq, Harmony, Helsinn, Intergalactic, Lava, Novalgen, Novavax, Ractigen, Relmada, Ubiquigent. Read More
Clinical updates, including trial initiations, enrollment status and data readouts and publications: Arthrosi, Atai, Celularity, Curevac, Effector, Genoscience, Graphite, Madrigal, Medicinova, Medincell, Nexcella, Visen. Read More
Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Alvotech, American Cryostem, Cleave, Genentech, Innovent, Inventiva, Jnana, Ligan, Novan, Pfizer, Precision, Rani, Transgene, UCB. Read More
