Drug Approval Rates Grow With Deal Up-Fronts
There’s a correlation between up-front payments and actual drug approval rates. First in a series of follow-ups to In Vivo's 2014 study comparing/contrasting likelihood of approval and up-front payments on alliances, and the outcomes of relevant deals.
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In earlier development phases, most of the therapeutic classes with higher approval rates tend on average to have the larger up-front alliance payments. But in Phase III, licensees are paying top dollar for candidates in areas with the lowest likelihoods of approval.
Coming year could feature first-time approvals in the EU for at least five gene therapies.
Sangamo licensed Biogen zinc finger protein transcription factor candidates in an alliance worth over $2bn. Exercising an option it gained in 2017, Takeda bought celiac disease-focused PvP Biologics for up to $330m in earn-outs. A strong showing of IPOs prompted biopharma financing to increase from last month.