Deals Shaping the Medical Industry, September 2016
Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in August 2016.
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Eight $1bn+ alliances were penned in December. Topping the list was a potential $12.4bn deal between Recursion and Roche (and its Genentech subsidiary) involving the identification and development of small-molecule programs in a gastrointestinal cancer indication and in key areas of neuroscience. Recursion is responsible for creating a certain number of PhenoMaps, which are massive relational databases of biological and chemical perturbation phenotypes. For each of the PhenoMaps requested by Roche, Recursion may be subject to an initiation fee up to $250m for sixteen accepted PhenoMaps. Recursion will receive an up-front payment of $150m and is eligible for additional performance-based research milestones. Roche and Genentech have the option to obtain an exclusive license to initiate up to 40 programs, each of which, if successfully developed and commercialized, could yield more than $300m in development, commercialization, and sales milestones for Recursion.
Six $1bn+ alliances were penned in November. Topping the list was a potential $2.7bn deal between Neurocrine Biosciences and Sosei Group for the development and commercialization of candidates containing certain sub-type selective muscarinic M1, M4, or dual M1/M4 receptor agonists discovered by Sosei Heptares and in development for neurological disorders, which Neurocrine intends to study in the treatment of schizophrenia, dementia, and other neuropsychiatric disorders. The company gains exclusive worldwide rights to develop, manufacture, and commercialize the candidates, while Sosei retains the rights to develop M1 agonist programs in Japan in all indications, with Neurocrine receiving co-development and profit share options.
Major medtech deals in November include Coloplast's $2.5bn acquisition of Atos Medical and Alcon's deal for Ivantis.