Another med-tech acquisition was wiped off the charts after Japan’s Olympus Corp. rescinded the acquisition of South Korean medical device firm Taewoong Medical Co. Ltd. on March 7, after finding “data integrity issues” related to Taewoong’s products.
Sosei Group Corp. is getting €25 million (US$27.3 million) up front in a global collaboration and option-to-license deal with Boehringer Ingelheim GmbH aimed at developing GPR52 agonists, a new target for schizophrenia designed to potentially address positive, negative and cognitive symptoms at the same time.
Yuhan Corp., of Seoul, South Korea, added a new potential cancer drug to its oncology pipeline, licensing a son of sevenless homolog 1 (SOS1) inhibitor co-developed by Cyrus Therapeutics Inc. and Kanaph Therapeutics Inc. for ₩208 billion (US$156.3 million).
Merus NV added Gilead Sciences Inc. to its collaboration roster, entering a deal potentially worth more than $1.5 billion. While its previous agreements have focused primarily on bispecific antibodies, the Gilead alliance takes aim at trispecifics, antibodies capable of binding three targets at once. In other news, shares of Biomx Inc. (NYSE:PHGE) jumped 194% March 6, ending the day at 68 cents, up 45 cents, on news that it was merging with fellow phage-focused company Adaptive Phage Therapeutics Inc. and raised $50 million in a concurrent private placement.
Foreign investment in China’s biopharma sector is beginning to pick up after the hit of severe pandemic restrictions, and as Western governments look to revive trading relationships following a spate of diplomatic rows. While the geopolitical tensions remain, the mantra from Europe is not to de-couple, but to de-risk. Following a policy review in 2023, the U.K. government position is that a positive two-way trade and investment relationship with China is “mutually beneficial.”
In a move to widen global access to its Qdenga dengue vaccine, Takeda Pharmaceutical Co. Ltd. is partnering with India’s Biological E. Ltd. to manufacture Qdenga (TAK-003).
In a move to build up its dominance in the radiopharma market, Telix Pharmaceuticals Ltd. said it plans to acquire radioisotope production technology firm Artms Inc. and its advanced cyclotron-based isotope production platform, manufacturing plant and stockpile of ultra-pure rare metals.
Everzom SAS, a CNRS/Université Paris Cité spin-off, has signed a second exclusive license agreement with Erganeo SAS for the development of Evergel, an exosome drug candidate for fistulas and fibrosis of the digestive tract.
With valuations heading higher, pharmaceutical companies are looking to make deals. “The M&A environment has kind of woken up a little bit,” Jay Stamatis, vice president and head of business development and acquisitions at Abbvie Inc., told the audience at Biocom California’s Global Life Science Partnering & Investor Conference.
Biopharma grants maintained their upward trajectory throughout 2023, culminating in a nearly 67% increase in value compared to 2022, mirroring the trend observed in October. Conversely, nonprofit deal value witnessed a continued year-over-year decline, falling by more than 90% in value.
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