Deals: Page 15
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Ultragenyx sells rare disease drug royalties to Canadian pension fund
In exchange for $500 million, the fund, called OMERS, will get a 30% royalty on future sales of Ultragenyx’s drug Crysvita in the U.S. and Canada, where it’s approved to treat two rare conditions.
By Jacob Bell • July 15, 2022 -
yodiyim via Getty Images
Royalty Pharma buys rights to top-selling GSK drug in pair of deals
The prolific biopharma dealmaker is paying Theravance $1.1 billion and Innoviva $282 million to acquire rights to royalties on GSK’s asthma and COPD drug Trelegy Ellipta.
By Kristin Jensen • July 14, 2022 -
Spencer Platt via Getty Images
TherapeuticsMD buyout unravels as shareholders balk
Too few investors in the women’s health company pledged their shares to the take-private offer from EW Healthcare Partners, killing the deal.
By Delilah Alvarado • July 13, 2022 -
Courtesy of Vertex Pharmaceuticals
Vertex acquires another maker of potentially curative diabetes treatments
For $320 million, Vertex said it plans to buy ViaCyte in a deal that would provide “complementary assets, capabilities and technologies” to the ones it picked up through the 2019 acquisition of Semma Therapeutics.
By Jacob Bell • July 11, 2022 -
Md Saiful Islam Khan via Getty Images
Healthcare asset manager Innoviva buys another biotech at a bargain price
Two months after acquiring Entasis Therapeutics, the firm reached a deal to buy La Jolla Pharmaceutical Co. at a fraction of what La Jolla was worth just a few years ago.
By Jonathan Gardner • July 11, 2022 -
Carl Court via Getty Images
ADC Therapeutics cuts deal with Sobi to broaden reach of cancer drug
The alliance comes on the heels of a change in leadership at ADC and will help ready the biotech to launch its lymphoma drug in Europe.
By Delilah Alvarado • July 8, 2022 -
National Institute on Aging. (2017). "Beta-Amyloid Plaques and Tau in the Brain" [Image]. Retrieved from Flickr.
AbbVie dials back partnership on experimental Alzheimer's drug
While AbbVie is bailing on one of the two programs it paid Alector $205 million to acquire five years ago, work will continue on the second project. That drug, however, has shown safety signals.
By Jonathan Gardner • July 8, 2022 -
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Radius, fending off activists, outlines pitch for $890 million buyout
The biotech detailed the process that led to its take-private offer last month, aiming to win the support of shareholders, including two firms that have pushed for change.
By Ben Fidler • July 8, 2022 -
Elizabeth Regan/BioPharma Dive
After a lengthy drought, could biotech M&A be on the upswing?
With at least 14 buyouts worth $50 million or more, the second quarter was one of the busiest three-month periods for acquisitions in recent years. Some industry watchers expect that pace to continue.
By Jacob Bell • July 8, 2022 -
Carol Highsmith. (2005). "The Apex Building" [Photo]. Retrieved from Wikimedia Commons.
As Merck closes in on Seagen, the FTC nears a key test on pharma deals
An acquisition reportedly worth $40 billion or more and potentially signed within weeks could draw notable scrutiny from regulators and force the companies to divest certain drug programs.
By Jonathan Gardner , Ben Fidler • July 7, 2022 -
atiatiati via Getty Images
Two cancer biotechs merge, raise cash as sector-wide downturn continues
Syros Pharmaceuticals and Tyme Technologies, shares of which trade near all-time lows, will combine and raise about $130 million in the latest example of how the industry’s slump is affecting publicly traded biotechs.
By Delilah Alvarado • July 5, 2022 -
Courtesy of CureVac
CureVac sues rival COVID-19 vaccine maker BioNTech for patent infringement
The biotech, whose own efforts to develop a COVID-19 vaccine have faltered, claims its inventions were crucial to the development of BioNTech’s top-selling coronavirus shot.
By Jonathan Gardner • July 5, 2022 -
Christopher Furlong via Getty Images
With $100M AstraZeneca deal, a biotech and its investors engineer another buyout
An entity originally known as Teneobio has now been the focus of three acquisition deals with large pharmaceutical companies since 2021, capitalizing on the industry’s growing interest in dual-acting antibody drugs.
By Ben Fidler • July 5, 2022 -
Brian Tucker / BioPharma Dive/BioPharma Dive
Blueprint secures access to more than $1B in funding through two new deals
Amid a historic market downturn, the precision drug company is raising money through royalty financings with Sixth Street and Royalty Pharma.
By Jacob Bell • June 30, 2022 -
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Bayer, Amgen back ReCode's plan to broaden genetic medicine's reach
The two drugmakers joined a long list of investors, including Pfizer and Sanofi, that have been funding the startup’s plan to develop a new type of lipid nanoparticle technology.
By Delilah Alvarado • June 29, 2022 -
Elizabeth Regan/BioPharma Dive
Ipsen adds to cancer business with bargain buyout of Epizyme
Epizyme, which was once worth more than $2 billion, agreed to be bought for $247 million upfront. The biotech has continued to lose money despite winning FDA approval for a drug for rare cancers.
By Jonathan Gardner • June 27, 2022 -
Radius, maker of bone and cancer drugs, to be bought in take-private deal
Two investment firms, Gurnet Point Capital and Patient Square Capital, have agreed to pay as much as $890 million for Radius, which has come under pressure amid share price declines.
By Ben Fidler, Kristin Jensen • June 23, 2022 -
Courtesy of Galapagos
Galapagos, with latest deals, charts an unexpected journey to cell therapy
The Belgian drugmaker will spend more than $100 million to acquire two companies, CellPoint and AboundBio, in a move meant to “disrupt” CAR-T treatment.
By Jacob Bell • June 22, 2022 -
E+ via Getty Images
Boehringer extends cancer dealmaking with right to buy biotech partner
The German pharma company has secured an option to acquire Trutino Biosciences, two years after inking a research collaboration with the San Diego drug developer.
By Delilah Alvarado • June 16, 2022 -
Carol Highsmith. (2005). "The Apex Building" [Photo]. Retrieved from Wikimedia Commons.
Pharma under the microscope as FTC considers new ways to review acquisitions
At a two-day meeting, experts argued drug divestitures may not be enough to prevent market concentration. Economists and regulators also appeared worried by the effect of buyouts on innovation.
By Jonathan Gardner • June 16, 2022 -
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Resilience, a well-funded manufacturing startup, joins with the Parker Institute to make cancer drugs
The unusual biotech, which just raised $625 million earlier this week, will work with the immunotherapy center under a five-year agreement to create and spin off new companies.
By Kristin Jensen • June 9, 2022 -
Yumanity's days as an independent biotech come to a close
After recently announcing plans to eliminate more than half its staff, the biotech now intends to sell its research programs to Janssen and enter a reverse merger with the private company Kineta.
By Jacob Bell • June 6, 2022 -
Permission granted by Bristol-Myers Squibb
Bristol Myers bets $4B on Turning Point and its targeted cancer drugs
While priced at a significant premium, the deal values Turning Point well below its peak valuation last year, a potential sign biotechs might be adjusting their expectations amid the sector's downturn.
By Jonathan Gardner • Updated June 3, 2022 -
Leon Neal via Getty Images
GSK wagers $2.1B on Affinivax and its next-generation pneumonia vaccine
The deal is the second acquisition for GSK since April and gives the company access to an experimental shot that’s meant to surpass new products from Pfizer and Merck & Co.
By Ben Fidler • May 31, 2022 -
National Institute of Allergy and Infectious Diseases. (2020). "Novel Coronavirus SARS-CoV-2" [Micrograph]. Retrieved from Flickr.
NIH licenses COVID-19 technologies to WHO-backed program
The agreement, which covers three experimental vaccines as well as several key patents, will be royalty free for products sold in 49 low-income countries.
By Jonathan Gardner • May 13, 2022
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