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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BridgeBio Pharma’s affiliate QED Therapeutics granted and Helsinn Group exclusive global rights (excluding Greater China) to the FGFR1-3 inhibitor infigratinib in oncology and all other indications except skeletal dysplasias (including achondroplasia). BridgeBio could see up to $2.45bn in payments from the deal, including over $100m in up-front, regulatory, and launch payments, and the remainder in sales milestones. In the month’s top M&A, Amgen entered into an agreement to acquire fellow public biotech Five Prime Therapeutics for about $1.9bn, gaining Phase III-ready bemarituzumab for frontline advanced gastric or gastroesophageal junction cancer.
During Q4, medical device company M&A values reached $5.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $3.3bn.
Molecular Templates penned a research collaboration with Bristol Myers Squibb to discover and develop multiple therapies designed for specific oncology targets using Molecular’s next-generation engineered toxin body platform. BMS paid $70m up front and could shell out development and regulatory milestones up to $874.5m and $450m upon the achievement of certain sales milestones. ICON entered into a definitive agreement to acquire fellow public CRO PRA Health Sciences in a 48% cash and 52% stock transaction valued at approximately $12bn. Financing reached $11.4bn in biopharma, $1.2bn in device, and $1.5bn in diagnostics.