Deals In Depth: November 2021
Executive Summary
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.
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Deals In Depth: April 2022
In the top April alliance by deal value, Jazz Pharmaceuticals acquired exclusive global development and commercialization rights to Werewolf Therapeutics' WTX-613. Preclinical WTX-613 is an engineered IFN⍺2b cytokine pro-drug that is activated specifically within the tumor microenvironment where it can stimulate IFNα receptors on cancer-fighting immune effector cells. Jazz expects to submit an IND application to the FDA for WTX-613 in 2023. Jazz paid $15M up front and Werewolf is eligible to receive development, regulatory and commercial milestone payments of up to $1.26bn, plus royalties.
Dealmaking Quarterly Statistics, Q1 2022
During Q1, biopharma merger and acquisition value reached $9.9bn and drew in $51.2bn in potential deal value from alliances. Device company M&A values reached $4.6bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $52.5m.
Financing Quarterly Statistics, Q1 2022
During Q1, biopharmas brought in an aggregate $17.9bn in financing and device company fundraising totaled $2.2bn; while in vitro diagnostic firms and research tools players raised $1.5bn.