Deals
The Italian pharma company is acquiring what was once one of the hottest stocks in the biotech sector, just months after the FDA rejected Intercept’s non-alcoholic steatohepatitis candidate.
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Leading companies spent $1.4 billion upfront on licensing deals and embarked on vast R&D programs. Clinical setbacks mean many companies are unlikely to ever recoup their investments.
On the sidelines of BIO2025, Julie Gilmore, head of Lilly Gateway Labs, shares her thoughts on the $1.3 billion Verve Therapeutics buy, where Lilly’s therapeutic puck is potentially going and how the company is leveraging its unprecedented success in obesity to support young biotechs.
BioNTech said in 2022 that it faced “threats of a groundless patent infringement suit” from a company that was “unable to bring to market any product to help in the fight against COVID-19.” Now, the mRNA biotech is buying that very company.
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The delay is due, in part, to some internal Seagen actions, including a data readout for its bladder cancer drug Padcev, as well as a legal matter between Seagen and Daiichi Sankyo.
Unnamed sources “familiar with the matter” informed Bloomberg that CStone’s leadership team is working with Goldman Sachs to determine if there are interested buyers.
Under the terms of the deal, Theravance and Innoviva are surrendering 85% and 15% of their stakes in Trelegy in exchange for $1.1 billion and $282 million from Royalty, respectively.
Vertex Pharmaceuticals plans to acquire ViaCyte for $320 million in cash. ViaCyte focuses on stem cell-derived cell replacement therapies that they hope will cure type 1 diabetes (T1D).
Innoviva Inc. and La Jolla Pharmaceutical Company announced Monday that they had entered into a $149-million merger agreement.
Seagen recently presented positive pivotal Phase II data from its trial of Tukysa (tucatinib) in combination with trastuzumab in HER2-positive metastatic colorectal cancer.
When GSK’s consumer health spinoff Haleon launches later this month, the new business will carry more than $12 billion in debt when it lists on the London Stock Exchange.
Portage Biotech announced Wednesday that it has inked an acquisition agreement with New York-based Tarus Therapeutics, adding four new candidates to its pipeline.
Merck is in late-stage discussions to acquire Seagen for about $40 billion according to a Wall Street Journal report.
As the global life sciences industry slows down, companies are gathering money through means other than VC funding. BioSpace shines a light on some of these recent transactions.