Deals In Depth: February 2023
Executive Summary
Two $1bn+ alliances were penned in February. Topping the list was a potential $1.16bn deal between AstraZeneca and KYM Biosciences (a joint venture company of Keymed Biosciences and Lepu Biopharma, of which Keymed owns 70%). Under the exclusive global agreement, AstraZeneca will develop, manufacture and commercialize CMG901, a Phase I antibody drug conjugate for the treatment of Claudin 18.2-positive solid tumors including gastric cancers.
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During Q4, biopharmas brought in an aggregate $17.5bn in financing and device company fundraising totaled $1.9bn; while in vitro diagnostic firms and research tools players raised $848m.