Deal-Making
An interactive look at pharma, medtech and diagnostics deals made during August 2024. Data courtesy of Biomedtracker.
Fusion Pharmaceuticals Inc CEO John Valliant talked to In Vivo about Canadian leadership in radiopharmaceutical innovation, its differentiated approach, and excitement around combination therapies for precision cancer treatments.
The big news in Q3 2024 was the acquisition of Exscientia by Recursion, which has now expanded its pipeline and gained access to more contracts, but this quarter was also marked by numerous seed rounds and M&As, with the strengthening of existing companies and emergence of new ones into what is becoming a crowded space.
Dealmaking trends in 2024 point toward a healthier financial ecosystem than in 2023. However, with a challenging three quarters in 2024, enthusiasm should be curbed as 2024 rounds out in a slow and steady manner.
Business development leaders from AstraZeneca and Novartis and a biotech CEO get frank about what they want from the other side, highlighting the need for transparency during competitive negotiations, plus a shared spark of enthusiasm about pursuing novel science.
An interactive look at pharma, medtech and diagnostics deals made during August 2024. Data courtesy of Biomedtracker.
Six $1bn+ alliances were penned in August. In the top alliance by deal value, ImmuneOnco Biopharmaceuticals licensed Instil Bio global rights (excluding China, Taiwan, Macau, and Hong Kong) to develop and commercialize its PD-L1xVEGF bispecific antibody IMM2510 and the next-generation anti-CTLA-4 antibody IMM27M. The deal could be worth over $2bn. The candidates have potential in treating advanced solid tumors.
Without a mega-merger like 2023’s Pfizer/Seagan takeout, M&A deals grew smaller during the first half of 2024, while volume rose. In alliance deals, H1 2024 activity somewhat mirrored activity from H1 2023.
An interactive look at pharma, medtech and diagnostics deals made during July 2024. Data courtesy of Biomedtracker.
Three $1bn+ alliances were penned in July. In the top alliance by deal value, Dren Bio teamed up with Novartis for the discovery and development of therapeutic bispecific antibodies for cancer using Dren Bio’s proprietary targeted myeloid engager and phagocytosis platform. The deal could be worth up to $3bn. The companies will collaborate to advance selected targeted myeloid engager programs in oncology through clinical candidate selection, at which point Novartis will assume full responsibility for all remaining development, manufacturing, regulatory and commercialization activities. In the top M&A, Eli Lilly penned a definitive agreement to acquire Morphic Therapeutic for $57 per share or approximately $3.2bn. Morphic's pipeline includes integrin therapies for autoimmune and fibrotic diseases and cancer and is led by Phase IIb candidate MORF-057. The selective oral small molecule inhibitor of α4β7 integrin is being evaluated for ulcerative colitis and Crohn's disease. It could provide Lilly with a strong competitor to Takeda Pharmaceuticals' marketed IBD therapy Entyvio (vedolizumab). Financing reached $4.6bn in biopharma, $769m in devices, and $373m in diagnostics.
George Badescu, chief business officer at Heidelberg Pharma, discusses antibody-drug conjugate development, partnership styles and the appetite for risk-taking in the biopharma industry.
King’s College London has released a freely available ‘Human Gut Microbiome Atlas’ to help researchers better understand how microorganisms in the gut impact disease.
During Q2, biopharma merger and acquisition deal value reached $22.2bn and drew in $36.3bn in potential deal value from alliances. Device company M&A values reached $21.3bn, while in vitro diagnostics and research tools players’ M&A activity totaled $631.6m.
Last year, In Vivo spotlighted some of biopharma’s most highly valued yet unpartnered assets. Now it’s time to see if deals have been struck and review how NPVs have changed.
Together, Merck’s heads of oncology and head of digital health outline their cross-functional strategy to enhance care for cancer patients through digital tools.
During Q2, biopharmas brought in an aggregate $22.8bn in financing and device company fundraising totaled $2.7bn; while in vitro diagnostic firms and research tools players raised $1.2m.
An analysis of new ADCs in Phase III studies shows the difficulties, and possible rewards, of developing these drugs. The earlier stage pipeline boasts a range of mechanistic approaches.
An interactive look at pharma, medtech and diagnostics deals made during June 2024. Data courtesy of Biomedtracker.
Ali Pashazadeh, CEO, chair and founder of Treehill Partners discusses the need for increased communication between biotech and biopharma.
Four $1bn+ alliances were penned in June. In the top alliance by deal value, Ascidian Therapeutics signed an agreement with Roche for the discovery and development of RNA exon editing therapeutics targeting neurological diseases. Roche received exclusive rights to Ascidian's RNA exon editing technology for undisclosed targets. Ascidian will conduct discovery and certain preclinical activities in collaboration with Roche, which will be responsible for certain preclinical activities, and further clinical development, manufacturing, and commercialization. Ascidian will receive an up-front payment of $42m as well as up to $1.8bn in research, clinical, and commercial milestone payments, as well as sales royalties.