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BIO 2022 Notebook: Deal Values In The Eyes Of The Beholders

 
• By Scrip Team and Pink Sheet Team

News and views from day 3 of the BIO annual meeting include business development insights, such as Sanofi's global head of BD Alban De La Sabliere's promise that big pharma has no hidden agenda and an AbbVie BD exec's observations that lower company valuations have not led to lower asking prices. Also, BIO chairman and Nkarta CEO Paul Hastings' optimism that biotech will rebound and Venus Williams' Sjogren's disease story draws a crowd.

BIO 2022 Notebook Day 3
• Source: Shutterstock

Big pharma and specialty pharmaceutical companies have made it clear that they are hunting for new technologies and drug candidates to expand their R&D pipelines in anticipation of upcoming patent expirations for key commercial products, with a focus on licensing, collaboration and bolt-on acquisitions rather than mega-mergers. (Also see "EY: Don’t Expect Mega-Mergers To Return, But ‘Never Say Never’" - Scrip, 10 January, 2022.)

At the BIO International Convention in San Diego, dealmaking executives from small biotechnology firms all the way through to pharma giants explained what they are looking for in a partner and the

Top Alliances Of Q1

Though the reality of deal-making in 2022 has perhaps not lived up to the expectations of mega-deals, there has been a steady flow of alliances. The year started off with 279 partnerships with a combined potential value of $51.2bn. As expected, oncology was the hottest area for deal-making, accounting for 105 of these collaborations, but numerous pacts also emerged across neurology (40) and infectious diseases (34).

Sanofi was responsible for three of the top five deals, which included an antibody pact with existing partner IGM Biosciences, Inc. (potential value of $6.2bn) and a more cryptic deal focused on personalized medicine with another existing partner, Exscientia Ltd. (potential value of $5.3bn). Sanofi also forked out $17.5m to access Adagene Inc.’s precision masking technology platform for tumor drugs in a deal that could see the Chinese firm get an extra $2.5bn in milestones and royalties.

Meanwhile, Takeda Pharmaceutical Co. Ltd

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• By Vibha Sharma

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