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Deals in Depth: May 2024

 
• By Deanna Kamienski and Maureen Riordan

Six $1bn+ alliances were penned in May. In the top alliance by deal value, AC Immune SA granted Takeda an option to license exclusive global rights to active immunotherapies targeting toxic forms of amyloid beta, including ACI-24.060 for the treatment of Alzheimer’s disease. AC Immune will receive $100m up front and is eligible to receive an option exercise fee and additional potential development, commercial and sales-based milestones of up to approximately $2.1bn, plus sales royalties.

Deals In Depth

In the top M&A, Merck entered into a definitive agreement to acquire privately held Eyebiotech for $1.3bn up front in cash and up to $1.7bn in developmental, regulatory and commercial milestone payments. EyeBio is developing candidates aimed at preventing and treating vision loss associated with retinal vascular leakage. Its lead candidate Restoret is a potential first-in-class tetravalent, tri-specific antibody that acts as an agonist of the Wingless-related integration site signaling pathway. It demonstrated positive results in a Phase Ib/IIa trial in patients with diabetic macular edema and neovascular age-related macular degeneration. Financing reached $9bn in biopharma, $1.5m in device, and $678m in diagnostics.

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