Deal Snapshot: Unable to make a go of selling novel antibiotic Xerava, Tetraphase’s product and commercial team will be absorbed into AcelRx in $14.4m deal.
Who: AcelRx Pharmaceuticals/Tetraphase Pharmaceuticals
What: AcelRx acquires Tetraphase in an all-stock transaction.
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Plus deals involving Basilea/Venatorx, CorMedix/Melinta, SERB/Y-mAbs, XOMA/Lava, XOMA/Hillevax, MaxCyte/Adicet/Anocca and Bausch Health/DURECT.
Also deals involving Xspray/Handa, Fosun/Expedition, Kaken/Astria, Orchid/Allecra, Sanofi/Visirna, KKR/Healthcare Royalty Partners, Viridian/Kissei, Sandoz/Evotec, Dx&Vx, Dr. Falk/Allianthera, Madrigal/CSPC and Lilly/LTZ.
Deal Snapshot: Bayer will take over development of the asset once Kumquat completes a Phase Ia clinical trial, but the biotech firm may opt in to share US profits and losses.
Royalty deals are on track for another blowout year, but it’s not only because of a depressed biotech market. Large investment firms such as KKR are taking note.
Sarepta is in a cash crunch with sales of Elevidys slumping due to safety concerns and with financial commitments coming due, including debt repayments and milestone fees for its partner Arrowhead.
Plus deals involving Basilea/Venatorx, CorMedix/Melinta, SERB/Y-mAbs, XOMA/Lava, XOMA/Hillevax, MaxCyte/Adicet/Anocca and Bausch Health/DURECT.
The drug is one of multiple candidates in the class that have been pulled from development, though it is not the company’s lead candidate.
