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).

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.

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.

Edwards Lifesciences Corp. said it has exercised its option to buy Innovalve Bio Medical Ltd., an early stage transcatheter mitral valve replacemen company, for $300 million in cash following its initial investment in 2017. Since that time, Edwards said Innovalve has demonstrated progress in its program with promising early clinical experience.

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.

Edwards Lifesciences Inc. struck three deals totaling €15 million (US$16.3 million) with Affluent Medical SAS to gain access to its mitral valve technology. Edwards secured an exclusive option to acquire Affluent subsidiary Kephalios, which makes the Kalios adjustable mitral ring, for €5 million (US$5.44 million); paid €5 million more for global, non-exclusive licensing of Affluent’s intellectual property related to its biomimetic cardiac mitral valve replacement technology; and invested a further €5 million to acquire 9.21% of Affluent.

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.

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.