DUBLIN – Novartis AG is making a $9.7 billion bet that the economics of an siRNA-based drug can better those of monoclonal antibodies and thus provide it with a dominant position in a major but still emerging cardiovascular drug market. The Basel, Switzerland-based pharma made an $85 per share offer for The Medicines Co., which has taken inclisiran, an siRNA-based inhibitor of proprotein convertase subtilisin/kexin type 9 (PCSK9) to the brink of an approval in reducing the risk of a cardiovascular event – heart attack or stroke – in high-risk patients with cardiovascular disease or high levels of low-density lipoprotein cholesterol (LDL-C) who are inadequately controlled on current therapies.
Harpoon Therapeutics Inc. and Abbvie Inc. have cut their second deal in little more than two years as they embark upon an exclusive worldwide option and license transaction for HPN-217, Harpoon’s B-cell maturation antigen T-cell engagers targeting solid tumors and hematologic malignancies.
London-based Livanova plc is exiting its Caisson transcatheter mitral valve replacement (TMVR) program as it looks to restructure its heart valve business. According to the company, the heart valve business line represented nearly $130 million in revenue for full-year 2018 and experienced a revenue decline over the last five years. It attributed the declines to multiple market conditions.
Roughly two and half years after it picked up Cynosure, Hologic Inc., of Marlborough, Mass., has reported its intention to sell it to private equity firm Clayton, Dubilier & Rice (CD&R) for a total purchase price of $205 million in cash, subject to certain closing adjustments. The company expects net cash proceeds of about $138 million. CD&R Partner Derek Strum expressed enthusiasm about the deal, noting that his firm expects “to continue to invest behind the company's strong brand and large global installed base to accelerate growth via expanded sales & marketing efforts and bring new products and technologies to market[.]”
HONG KONG - South Korean biopharmaceutical company Ph Pharma Co. Ltd., based in Seoul, and U.S. biotech Immunome Inc., of Exton, Pa., are working together on antibody-drug conjugates (ADCs) in a partnership agreement under which Immunome will discover antibodies using its platform while Ph Pharma will develop the ADC candidates and verify safety and efficacy.
While Burt Adelman has been in Boston since 1991, it wasn’t until he joined Novo Ventures Inc. about four years ago that he realized there was often no way to tie the area’s drug development together into something resembling a cohesive whole.
LONDON – After a long haul to market, recent approvals and initial commercial successes of advanced cell and gene therapies are shifting the balance of power between biotech and pharma in dealmaking.
Dicerna Pharmaceuticals Inc. kept adding major partners to its CV Monday as it and Novo Nordisk A/S struck a deal to discover and develop therapies to treat liver-related cardiometabolic diseases, including chronic liver disease, nonalcoholic steatohepatitis (NASH), type 2 diabetes, obesity and rare diseases.
In a bid to expand its presence in CNS to a wider range of neurodegenerative diseases following a substantial restructuring last month, Alkermes plc has moved to acquire privately held neuronal epigenetics specialist Rodin Therapeutics Inc. for $100 million up front and up to $850 million in clinical, regulatory and commercial milestones.
Optina Diagnostics, of Montreal, and the Wagner Macula & Retina Center are collaborating on a clinical study using Optina's Retinal Deep Phenotyping (RDP) platform to screen for Alzheimer's disease. The program will put the platform into nine community eye clinics in Virginia and North Carolina.
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