Deals In Depth: June 2022
Executive Summary
Six $1B+ alliances were penned in June. Topping the list was a potential $4.26M deal between Immatics and Bristol Myers Squibb for the development of multiple allogeneic off-the-shelf TCR-T and/or CAR-T programs. The companies seek to develop two BMS-owned programs and both firms will have an option to develop up to four additional programs each. The programs will utilize Immatics’ ACTallo proprietary allogeneic gamma delta T cell-derived adoptive cell therapy platform. BMS contributes its suite of next-generation technologies as well as its oncology drug development expertise. Bristol Myers Squibb was also involved in the top June M&A by deal value. The company entered into an agreement to acquire Turning Point Therapeutics in an all-cash transaction with an equity value of $4.1B. Founded in 2013 as TP Therapeutics, Turning Point has advanced a pipeline of investigational medicines designed to target the most common mutations associated with oncogenesis. Its lead asset, repotrectinib, is a next-generation, potential best-in-class tyrosine kinase inhibitor targeting the ROS1 and NTRK oncogenic drivers of non-small cell lung cancer and other advanced solid tumors. Repotrectinib has been granted three Breakthrough Therapy designations from the US FDA. BMS expects the therapy to be approved in H2 2023 and become a new standard of care for patients with ROS1-positive NSCLC in the first-line setting. Turning Point also has several other clinical-stage oncology candidates in addition to multiple discovery programs. Financing reached $5.2bn in biopharma, $498m in device, and $311m in diagnostics.
You may also be interested in...
Deals in Depth: March 2024
Two $1bn+ alliances were penned in March. In the top alliance by deal value, Merus NV will use its Triclonics anitbody platform to discover new dual tumor-associated antigens targeting trispecific antibodies for Gilead Sciences. Merus will lead early-stage research activities for two programs, with an option to pursue a third. Gilead will have the right to license programs developed under the collaboration after the completion of select research activities. If Gilead exercises its option to license any such program from the collaboration, Gilead will be responsible for additional research, development and commercialization activities for such program. The deal could be worth up to $1.5bn for Merus.
Deals in Depth: February 2024
Just one $1bn+ alliance was penned in February, compared to ten in the previous month. In the top alliance by deal value, Neomorph and Novo Nordisk entered into a potential $1.46bn agreement for the discovery, development, and commercialization of molecular glue degraders (MGDs) for cardiometabolic and rare diseases. The collaboration brings together Novo Nordisk's expertise in those disease areas with Neomorph's MGD discovery platform. Neomorph will lead discovery and preclinical activities against selected targets with Novo Nordisk having the right to exclusively pursue further clinical development and commercialization of the compounds.
Deals in Depth: January 2024
Ten $1bn+ alliances were penned in January. In the top alliance by deal value, Shanghai Argo Biopharmaceutical entered into exclusive collaboration with Novartis Pharma for two undisclosed Argo cardiovascular disease programs, one in Phase I and another in Phase I/IIa. Novartis gets an exclusive global license to develop and commercialize the Phase I program and also receives an option to potentially license compounds directed against up to two additional targets. For the Phase I/IIa program, Novartis gets an exclusive license worldwide except in Greater China. The deal could be worth up to $4.17bn for Argo.