Derived from Current Agreements, the partnering scorecard gives an instant overview of the top partnering deals in the life sciences by year since 2010.
The following article contains a snapshot of the largest deals by value for the year.
Our Current Agreements database stores and categorizes deal data dating as far back as 2000 saving you valuable time on your deal making research activities.
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Top partnering deals of 2019 valued at over US$500m.
|Amgen, Celgene||Aug 2019||13400||Asset purchase agreement for Otezla|
Bristol-Myers Squibb announced that Celgene in connection with its merger agreement with Bristol-Myers Squibb, has entered into an agreement with Amgen under which Amgen would acquire the global rights to OTEZLA (apremilast) for $13.4 billion in cash.
Bristol-Myers Squibb previously announced the decision to divest OTEZLA in connection with the ongoing regulatory approval process for the Company’s pending merger with Celgene.
The closing of the acquisition covered by the agreement with Amgen is contingent on Bristol-Myers Squibb and Celgene entering into a consent decree with the Federal Trade Commission (FTC) in connection with their pending merger, the closing of the pending merger, and the satisfaction of other customary closing conditions.
Amgen will acquire OTEZLA and related intellectual property, including any patents that primarily cover apremilast, as well as other assets and liabilities related to OTEZLA.
The agreement includes the transfer of Celgene employees primarily dedicated to OTEZLA.
|Bayer Animal Health, Elanco||Aug 2019||7600||Asset purchase agreement for animal health business|
Elanco Animal Health has entered into an agreement with Bayer to acquire its animal health business in a transaction valued at US$7.6 billion.
The transaction, which is subject to regulatory approval and other customary closing conditions, creates the second largest animal health leader while strengthening and accelerating the company’s proven Innovation, Portfolio and Productivity (IPP) strategy.
The transaction will double Elanco’s Companion Animal business, advancing the company’s intentional portfolio mix transformation and creating a balance between its Food Animal and Companion Animal segments.
Elanco expects the combined organization to continue to deliver mid-single digit revenue growth, while accelerating achievement of adjusted gross margin goals and delivering double digit adjusted EBITDA margin growth.
Elanco will finance the transaction through both cash and equity.
Bayer will receive $5.32 billion in cash, subject to customary purchase price adjustments, and $2.28 billion or approximately 68 million Elanco Animal Health common shares.
This represents a 70 percent to 30 percent cash-to-equity mix.
Stock received by Bayer is subject to a 7.5 percent symmetrical collar centered on Elanco’s volume-weighted average price for the 30 trading days ended August 6, 2019 of $33.60.
Elanco has secured a bridge commitment for the cash portion of the consideration.
It intends to fund the cash consideration through a combination of new debt and equity.
At close, Elanco expects its gross debt to adjusted EBITDA leverage ratio to be ~5x, including the benefit of expected cost synergies.
The strong cash flow generation profile of the combined businesses will allow Elanco to de-lever rapidly to below 3x gross debt to adjusted EBITDA by the end of 2022.
The transaction is expected to close in mid-2020, subject to regulatory approvals and other customary closing conditions.
|AstraZeneca, Daiichi Sankyo||Mar 2019||6900||Collaboration, development and licensing agreement for Trastuzumab Deruxtecan (DS-8201)|
Daiichi Sankyo has entered into a global development and commercialization agreement with AstraZeneca for Daiichi Sankyo's lead antibody drug conjugate (ADC), [fam-] trastuzumab deruxtecan (DS-8201), currently in pivotal development for multiple HER2 expressing cancers including breast and gastric cancer, and additional development in non-small cell lung and colorectal cancer.
Daiichi Sankyo and AstraZeneca will jointly develop and commercialize [fam-] trastuzumab deruxtecan as a monotherapy or a combination therapy worldwide, except in Japan where Daiichi Sankyo will maintain exclusive rights.
Daiichi Sankyo will be solely responsible for manufacturing and the supply of [fam-] trastuzumab deruxtecan.
AstraZeneca will pay Daiichi Sankyo an upfront payment of $1.35 billion. Contingent payments of up to $5.55 billion include $3.8 billion for achievement of future regulatory milestones and other contingencies, as well as sales-related milestones of up to $1.75 billion.
Total payments under the agreement have the potential to reach up to $6.90 billion.
Daiichi Sankyo and AstraZeneca will share equally development and commercialization costs as well as profits from [fam-] trastuzumab deruxtecan worldwide, except for Japan.
Daiichi Sankyo is expected to book sales in U.S., certain countries in Europe, and certain other markets where Daiichi Sankyo has affiliates.
AstraZeneca is expected to book sales in all other markets worldwide, including China, Australia, Canada and Russia.
|Galapagos, Gilead Sciences||Jul 2019||6325||Collaboration agreement for discovery platform and pipeline|
Gilead Sciences and Galapagos have entered into a 10-year global research and development collaboration.
Gilead will gain access to an innovative portfolio of compounds, including six molecules currently in clinical trials, more than 20 preclinical programs and a proven drug discovery platform.
Galapagos will receive a $3.95 billion upfront payment and a $1.1 billion equity investment from Gilead.
Galapagos will use the proceeds to expand and accelerate its research and development programs.
Gilead will receive an exclusive product license and option rights to develop and commercialize all current and future programs in all countries outside Europe.
Gilead and Galapagos have agreed to amend certain terms in the agreement governing filgotinib, the candidate being advanced for rheumatoid arthritis and other inflammatory diseases to provide a broader commercialization role for Galapagos in Europe.
The collaboration will allow for closer scientific partnership between the companies.
Gilead will have access to Galapagos’ established research base, which includes more than 500 scientists, and to Galapagos’ unique platform, which utilizes disease-related, human primary cell-based assays to discover and verify novel drug targets.
Gilead will also nominate two individuals to Galapagos’ Board of Directors following the closing of the transaction.
Gilead gains rights to GLPG1690, Galapagos’ Phase 3 candidate for idiopathic pulmonary fibrosis.
Gilead also receives option rights for GLPG1972, a Phase 2b candidate for osteoarthritis, in the United States.
Both GLPG1690 and GLPG1972 are first-in-class compounds and could offer important mid- and late-stage pipeline opportunities for Gilead.
Gilead receives option rights on all of Galapagos’ other current and future clinical programs outside of Europe.
Galapagos will fund and lead all discovery and development autonomously until the end of Phase 2.
After the completion of a qualifying Phase 2 study, Gilead will have the option to acquire an expanded license to the compound.
If the option is exercised, Gilead and Galapagos will co-develop the compound and share costs equally.
Gilead will maintain option rights to Galapagos’ programs through the 10-year term of the collaboration and for up to an additional three years thereafter for those programs that have entered clinical development prior to the end of the collaboration term.
If GLPG1690 is approved in the United States, Gilead will pay Galapagos an additional $325 million milestone fee.
For GLPG1972, Gilead has the option to pay a $250 million fee to license the compound in the United States after the completion of the ongoing Phase 2b study in osteoarthritis.
If certain secondary efficacy endpoints are met, Gilead would pay up to an additional $200 million.
Following opt in, Galapagos would be eligible to receive up to $550 million in regulatory and commercial milestones.
For all other programs resulting from the collaboration, Gilead will make a $150 million opt-in payment per program and will owe no subsequent milestones.
Galapagos will receive tiered royalties ranging from 20-24% on net sales of all Galapagos products licensed by Gilead as part of the agreement.
|Novartis, Takeda Pharmaceutical||May 2019||5300||Asset purchase agreement for Xiidra|
Novartis has entered into an agreement with Takeda Pharmaceutical to acquire the assets associated with Xiidra (lifitegrast ophthalmic solution) 5% worldwide.
Xiidra is the first and only prescription treatment approved to treat both signs and symptoms of dry eye by inhibiting inflammation caused by the disease.
The transaction would bolster the Novartis front-of-the-eye portfolio and ophthalmic leadership.
Closing of the transaction is expected in second half of 2019, subject to customary closing conditions including regulatory approvals.
On closing, Novartis plans a smooth transition of operations and integration of Xiidra into its pharmaceuticals portfolio.
Deal terms include a USD 3.4 billion upfront payment with potential milestone payments of up to USD 1.9 billion.
As part of the agreement, Novartis will be taking on approximately 400 employees associated with the product.
|GlaxoSmithKline, Merck KGaA||Feb 2019||4174||Co-development and co-promotion agreement for M7824|
GlaxoSmithKline and Merck KGaA have entered into a global strategic alliance to jointly develop and commercialise M7824 (bintrafusp alfa*).
M7824 is an investigational bifunctional fusion protein immunotherapy that is currently in clinical development, including potential registration studies, for multiple difficult-to-treat cancers.
This includes a Phase II trial to investigate M7824 compared with pembrolizumab as a first-line treatment in patients with PD-L1 expressing advanced non-small cell lung cancer (NSCLC).
Merck KGaA will receive an upfront payment of €300 million (£260 million) and is eligible for potential development milestone payments of up to €500 million (£440 million) triggered by data from the M7824 lung cancer programme.
Merck KGaA will also be eligible for further payments upon successfully achieving future approval and commercial milestones of up to €2.9 billion (£2.5 billion).
The total potential deal value is up to €3.7 billion (£3.2 billion).
Both companies will jointly conduct development and commercialisation with all profits and costs from the collaboration being shared equally on a global basis.
|Abpro, NJCTTQ||Feb 2019||4000||Development agreement for multiple novel bispecific antibodies|
Abpro and NJCTTQ have entered into an agreement to develop multiple novel bispecific antibody therapies in immuno-oncology, including best-in-class T-cell engagers.
The collaboration leverages Abpro’s proprietary DiversImmuneTM antibody discovery platform.
Abpro is eligible to receive up to $4 billion, including $60 million in near-term R&D funding, plus potential milestones and royalties.
Abpro will retain all commercial rights for any approved molecules in geographies outside of China and Thailand, while NJCTTQ will retain rights in China.
Abpro and NJCTTQ will collaborate globally to pursue pre-clinical and clinical development efforts and, ultimately, commercialization.
|Gilead Sciences, Nurix||Jun 2019||2345||Collaboration. option and licensing agreement for protein degradation drugs for cancer and other diseases|
Gilead Sciences and Nurix Therapeutics announced a global strategic collaboration to discover, develop and commercialize a pipeline of innovative targeted protein degradation drugs for patients with cancer and other challenging diseases.
Nurix will utilize its proprietary drug discovery platform to identify novel agents that utilize E3 ligases to induce degradation of specified drug targets and Gilead will have an option to license drug candidates directed to up to five targets resulting from the work.
Nurix will retain the option to co-develop and co-detail up to two programs in the United States.
The collaboration excludes Nurix’s lead degradation program, for which Nurix retains all rights.
Nurix will receive an upfront payment of $45 million and will be eligible to receive up to approximately $2.3 billion in total additional payments based on the successful completion of certain research, pre-clinical, clinical, regulatory and commercialization milestones as well as up to low double-digit tiered royalties on net sales.
For those programs that Nurix opts in to co-develop and co-detail, the parties will split development costs as well as profits and losses 50/50 for the U.S., and Nurix will be eligible to receive royalties on ex-U.S. sales and reduced milestone payments.
|Adaptive Biotechnologies, Genentech||Jan 2019||2300||Collaboration and licensing agreement for neoantigen directed T-cell therapies for cancer|
Adaptive Biotechnologies entered into a worldwide collaboration and license agreement with Genentech to develop, manufacture and commercialize novel neoantigen directed T-cell therapies for the treatment of a broad range of cancers.
The collaboration will combine Genentech’s global cancer immunotherapy research and development leadership with Adaptive’s proprietary T-cell receptor (TCR) discovery and immune profiling platform (TruTCR) to accelerate a transformational new treatment paradigm of tailoring cellular therapy for each patient’s individual cancer.
Adaptive will utilize the investigational TCR discovery platform to identify the optimal TCRs to most effectively target each patient’s neoantigens for treatment.
Genentech will engineer and manufacture a personalized cellular medicine to deliver to each patient. The goal is to harness the vast majority of therapeutically relevant, patient-specific neoantigens and advance the next generation of cellular therapies in oncology.
Adaptive will receive $300 million in an initial upfront payment and may be eligible to receive more than $2 billion over time, including payments upon achievement of specified development, regulatory and commercial milestones, and royalties on sales.
Genentech will have responsibility for clinical, regulatory, and commercialization efforts, and Adaptive will be responsible for patient-specific screening on a global basis.
Adaptive will continue to use its TCR discovery and immune profiling platform to collaborate in the development of cellular therapies in other disease areas, including autoimmune conditions and infectious diseases.
|Mallinckrodt Pharmaceuticals, Silence Therapeutics||Jul 2019||2116||Collaboration and licensing agreement for RNAi therapeutics for complement-mediated diseases|
Silence Therapeutics announced the triggering of the first $2 million in research milestones for SLN500 under the collaboration with Mallinckrodt Pharmaceuticals, a global biopharmaceutical company.
This milestone relates to the completion of specific pre-clinical aspects of the SLN500 programme and highlights the rapid progress which has been achieved and the close working relationship between the two companies since the collaboration was entered into on 18 July 2019.
Under the terms of the agreement, Mallinckrodt has options to license up to two additional complement-targeted assets in Silence’s preclinical complement-directed RNAi development program.
Silence continues to work with Mallinckrodt to actively assess the two additional complement-targeted assets and further updates will be made in due course.
Mallinckrodt and Silence Therapeutics announced a collaboration that will allow the companies to develop and commercialize RNAi drug targets designed to inhibit or 'silence' the complement cascade, a group of proteins that are involved in the immune system and that play a role in the development of inflammation.
These proteins are known to contribute to the pathogenesis of many diseases, including autoimmune diseases.
Mallinckrodt will obtain an exclusive worldwide license to Silence's C33 complement asset, SLN500, with options to license up to two additional complement-targeted assets in Silence's preclinical complement-directed RNAi development program.
Silence will be responsible for preclinical activities, and for executing the development program of each asset until the end of Phase 1, after which Mallinckrodt will assume clinical development and responsibility for global commercialization.
Mallinckrodt has agreed to provide Silence with an upfront payment of $20 million.
Silence is also eligible to receive up to $10 million in research milestones for SLN500 and for each optioned asset, in addition to funding for Phase 1 clinical development including GMP4 manufacturing.
Silence will fund all other preclinical activities.
The collaboration provides for potential added clinical and regulatory milestone payments of up to $100 million for SLN500, as well as commercial milestone payments of up to $563 million for SLN500.
Should Mallinckrodt opt to license one or two additional assets, Silence could receive up to $703 million in similar clinical, regulatory, and commercial milestone payments per asset.
Silence would also receive tiered, low double-digit to high-teen royalties on net sales for SLN500 and each optioned asset.
The companies will work together to develop and commercialize this RNAi therapeutic target, with the possibility of additional assets, and will form a Joint Steering Committee to guide the asset's development program.
Silence's proprietary technology is a highly specific and modular platform designed to inhibit or 'silence' the expression of disease-causing genes.
The technology is appropriate to target any number of genes; however, the collaboration focuses on the complement cascade, which is implicated in a number of autoimmune diseases.
|Gilead Sciences, Goldfinch Bio||May 2019||2059||Collaboration, option, co-promotion and licensing agreement for therapies for kidney disease|
Gilead Sciences and Goldfinch Bio announced a strategic collaboration to discover, develop and commercialize a pipeline of innovative therapeutics for diabetic kidney disease (DKD) and certain orphan kidney diseases.
Gilead has exclusive options to license worldwide rights to certain products directed toward targets emerging from Goldfinch’s proprietary Kidney Genome Atlas (KGA), a comprehensive registry of patients with kidney diseases integrating genomic, transcriptomic and proteomic data with patient clinical profiles.
In addition, Goldfinch will apply its biology platform of human induced pluripotent stem cell-derived kidney cells and kidney organoids to validate targets and support discovery and development of products to which Gilead will have exclusive option rights.
Through sequencing the DNA of a large cohort of diabetic patients with and without kidney disease, Goldfinch will expand the scope of the KGA beyond orphan kidney diseases to include DKD.
In addition to target identification and validation, Goldfinch will lead discovery and development activities prior to exercise of exclusive option rights by Gilead, at which time Gilead will be responsible for the development and commercialization of optioned products.
Goldfinch retains the option to lead development and co-promote optioned products directed to specific kidney disease targets.
The collaboration does not include Goldfinch’s existing programs, GFB-887 and GFB-024, for which Goldfinch will retain all rights.
Goldfinch will receive $55 million in upfront payments, which includes a $5 million equity investment, and an additional $54 million to support the development of the KGA platform for DKD.
Goldfinch is also eligible to receive up to $1.95 billion in potential payments for the first five collaboration programs based on the successful achievement of research, development, regulatory and commercial milestones, and tiered royalties on sales of potential products originating from the collaboration.
Goldfinch retains the option to equally share in U.S. profits for certain optioned products in certain pre-defined kidney indications.
Development costs for profit share products will be shared among the two parties in a manner commensurate with product rights.
|Neurocrine Biosciences, Voyager Therapeutics||Jan 2019||1815||Collaboration and licensing agreement for Parkinson’s Disease and Friedreich’s Ataxia|
The ex-U.S. rights to VY-FXN01 are transferred from Voyager to Neurocrine Biosciences under the terms of the collaboration agreement between Voyager and Neurocrine Biosciences announced in January 2019.
Neurocrine Biosciences and Voyager Therapeutics announced the formation of a strategic collaboration focused on the development and commercialization of Voyager’s gene therapy programs, VY-AADC for Parkinson’s disease and VY-FXN01 for Friedreich’s ataxia, as well as rights to two programs to be determined.
This collaboration combines Neurocrine Biosciences’ expertise in neuroscience, drug development and commercialization with Voyager’s innovative gene therapy programs targeting severe neurological diseases.
Neurocrine Biosciences has agreed to pay Voyager $165 million in cash including a $115 million upfront payment and a $50 million equity investment at a Voyager per share price of $11.96.
Voyager will also receive funding from Neurocrine Biosciences for all costs incurred on these collaboration programs as described below.
In addition, Voyager may be entitled to earn up to $1.7 billion in development, regulatory and commercial milestone payments across the four programs.
Under terms of the agreement for VY-AADC for Parkinson’s disease:
Neurocrine Biosciences has agreed to fund the clinical development of the Phase 2-3 pivotal program for VY-AADC.
After the data readout of the Phase 2 RESTORE-1 trial, Voyager has the option to either:
(1) co-commercialize VY-AADC with Neurocrine Biosciences in the U.S. under a 50/50 cost- and profit-sharing arrangement and receive milestones and royalties based on ex-U.S. sales, or
(2) grant Neurocrine Biosciences full global commercial rights in exchange for milestone payments and royalties based on global sales.
Under terms of the agreement for VY-FXN01 for Friedreich’s ataxia:
Neurocrine Biosciences has agreed to fund the development through the Phase 1 clinical trial of VY-FXN01.
After the data readout of the Phase 1 trial, Voyager has the option to either:
(1) co-commercialize VY-FXN01 with Neurocrine Biosciences in the U.S. under a 60/40 cost- and profit-sharing arrangement, or
(2) grant Neurocrine Biosciences full U.S. commercial rights in exchange for milestone payments and royalties based on U.S. sales.
Sanofi Genzyme retains an option for ex-U.S. rights to VY-FXN01 following the data readout of the Phase 1 trial.
Under terms of the agreement for the two programs to be determined:
Neurocrine Biosciences has agreed to fund the development of these programs to be determined and Voyager will have the right to earn milestone payments and royalties based on global sales.
|Celgene, Immatics Biotechnologies||Aug 2019||1590||Collaboration, option, co-development and co-promotion agreement for adoptive cell therapies|
Immatics and Celgene have entered into a strategic collaboration and option agreement to develop novel adoptive cell therapies targeting multiple cancers.
Immatics may develop T-Cell Receptor Engineered T-cell Therapy (TCR-T) programs against solid tumor targets discovered with Immatics’ XPRESIDENT technology.
Programs would utilize proprietary T-Cell Receptors (TCRs) identified by Immatics’ XCEPTOR TCR discovery and engineering platform.
If Immatics develops programs against the TCR-T targets, Immatics will be responsible for the development and validation of these programs through lead candidate stage, at which time Celgene may exercise opt-in rights and assume sole responsibility for further worldwide development, manufacturing and commercialization of the TCR-T-cell therapies.
Immatics would have certain early stage co-development rights or co-funding rights for selected TCR-T-cell therapies arising from the collaboration.
Immatics will receive an upfront payment of $75 million for three programs and may be eligible to receive up to $505 million for each Licensed Product in option exercise payments, development, regulatory and commercial milestone payments as well as tiered royalties on net sales.
|Abbvie, Voyager Therapeutics||Feb 2019||1538||Collaboration, option and licensing agreement for vectorized antibodies for Parkinson's disease and other synucleinopathies|
AbbVie and Voyager Therapeutics announced an exclusive, global strategic collaboration and option agreement to develop and commercialize vectorized antibodies directed at pathological species of alpha-synuclein for the potential treatment of Parkinson's disease and other diseases (synucleinopathies) characterized by the abnormal accumulation of misfolded alpha-synuclein protein.
Voyager will perform research and preclinical development work to vectorize antibodies directed against alpha-synuclein that are designated by AbbVie, after which AbbVie may select one or more vectorized antibodies to advance into IND-enabling studies and clinical development.
Voyager will be responsible for the research, IND-enabling and Phase 1 clinical activities and costs.
Following completion of Phase 1 clinical development, AbbVie has an option to license the vectorized alpha-synuclein antibody program for further clinical development and global commercialization for indications including Parkinson's disease and other synucleinopathies.
Voyager will receive an upfront cash payment of $65 million and has the potential to earn up to $245 million in preclinical and Phase 1 option payments.
Voyager is also eligible to receive up to an additional $728 million in potential development and regulatory milestone payments for each alpha-synuclein vectorized antibody compound.
Voyager is eligible to receive tiered royalties on the global commercial net sales of each alpha-synuclein vectorized antibody and may also earn up to a total of $500 million in commercial milestones.
|Atomwise, Jiangsu Hansoh Pharmaceutical||Sep 2019||1500||Collaboration agreement to design and discover potential drug candidates for up to eleven undisclosed target proteins in multiple therapeutic areas|
Atomwise announced a collaboration with Hansoh Pharmaceutical to design and discover potential drug candidates for up to eleven undisclosed target proteins in multiple therapeutic areas.
Scientific teams from Atomwise and Hansoh Pharma will collaborate closely on the programs.
The combination of Atomwise’s AI technology and medicinal chemistry and protein structure expertise, and Hansoh Pharma’s fully integrated research and development, manufacturing and commercial capabilities has the potential to dramatically increase success and compress timelines for drug discovery and clinical development.
Under the terms of the collaboration, Atomwise will receive undisclosed technology access fees, option exercise fees, royalties, and income based on sublicensing or sale of assets created under the collaboration.
Based on historical average revenues for small molecule drugs, the total potential value of the deal to Atomwise with success in all projects could reach US$1.5 billion.
Hansoh Pharmaceutical and Atomwise have announced a collaboration to design and discover potential drug candidates for up to eleven undisclosed target proteins in multiple therapeutic areas.
Scientific teams from Atomwise and Hansoh Pharma will work closely together on the programs.
The combination of complementary expertise and technologies has the potential to dramatically increase success and compress timelines for drug discovery and clinical development.
Atomwise will receive undisclosed technology access fees, option exercise fees, royalties, and income based on sublicensing or sale of assets created under the collaboration.
Based on historical average revenues for small molecule drugs, the total potential value of the deal to Atomwise with success in all projects could be in excess of blockbuster potential.
Hansoh Pharma will receive rights for development and commercialization in all fields and geographies.
|Boehringer Ingelheim, Bridge Biotherapeutics||Jul 2019||1274||Collaboration and licensing agreement for BBT-877|
Boehringer Ingelheim and Bridge Biotherapeutics are entering into a new collaboration and license agreement with the goal of developing Bridge Biotherapeutics’s autotaxin inhibitor BBT-877 for patients with fibrosing interstitial lung diseases, including IPF.
BBT-877 is currently in Phase I clinical studies and is anticipated to enter Phase II testing within the next 12 months.
Both companies will initially focus on developing the compound for the treatment of IPF, an area of high-unmet medical need and one of the key focus areas of Boehringer Ingelheim.
Bridge Biotherapeutics will receive upfront and near term payments of EUR 45 million and is eligible to receive up to more than EUR 1.1 billion in potential payments based upon the successful achievement of specified development, regulatory, and commercial milestones and staggered, up to double digit royalties.
|Sosei Heptares, Takeda Pharmaceutical||Aug 2019||1226||Research, development and licensing agreement for molecules that modulate G protein-coupled receptor targets|
Sosei has entered into a strategic multi-target partnership with Takeda Pharmaceutical Company to discover, develop and commercialize novel molecules, including small molecules and biologics, that modulate G protein-coupled receptor targets.
Under the terms of the agreement, the partnership will combine the proprietary GPCR-focused structure-based drug design capabilities at Sosei Heptares with Takeda's extensive discovery, development and therapeutic area expertise directed towards multiple GPCR targets nominated by Takeda.
The nominated targets represent new therapeutic intervention points across a range of diseases.
The collaboration will initially focus on high-priority gastrointestinal targets, but the agreement includes the potential expansion into other therapeutic areas.
Sosei Heptares is eligible to receive up to $26 million in upfront and near-term payments, in addition to research funding over the term of the agreement, plus future development, commercialization and net sales-based milestone payments that may exceed $1.2 billion.
Sosei Heptares is also eligible to receive tiered royalties on net sales of any licensed products by Takeda resulting from the partnership.
Takeda receives exclusive global rights to develop and commercialize therapeutic agents for each novel target through specified pharmacological approaches in the collaboration.
|Codiak BioSciences, Jazz Pharmaceuticals||Jan 2019||1156||Collaboration and licensing agreement for engineered exosomes to create therapies for cancers|
Jazz Pharmaceuticals and Codiak BioSciences have entered into a strategic collaboration agreement focused on the research, development and commercialization of exosome therapeutics to treat cancer.
Codiak granted Jazz an exclusive, worldwide, royalty-bearing license to develop, manufacture and commercialize therapeutic candidates directed at five targets to be developed using Codiak's engEx precision engineering platform for exosome therapeutics.
The targets focus on oncogenes that have been well validated in hematological malignancies and solid tumors but have been undruggable with current modalities, including NRAS and STAT3.
Codiak is responsible for the execution of pre-clinical and early clinical development of therapeutic candidates directed at all five targets through Phase 1/2 proof of concept studies.
Following the conclusion of the applicable Phase 1/2 study, Jazz will be responsible for future development, potential regulatory submissions and commercialization for each product.
Codiak has the option to participate in co-commercialization and cost/profit-sharing in the U.S. and Canada on up to two products.
Jazz will pay Codiak an upfront payment of $56 million.
Codiak is eligible to receive up to $20 million in preclinical development milestone payments across all five programs.
Codiak is also eligible to receive milestone payments totaling up to $200 million per target based on Investigational New Drug application acceptance, clinical and regulatory milestones, including approvals in the U.S., European Union and Japan, and sales milestones.
Codiak is also eligible to receive tiered royalties on net sales of each approved product, with percentages ranging from mid-single digits in the lowest tier to high teens in the highest tier.
|Alnylam Pharmaceuticals, Regeneron Pharmaceuticals||Apr 2019||1150||Collaboration agreement for RNAi therapeutics focused on ocular and CNS diseases|
Alnylam Pharmaceuticals and Regeneron Pharmaceuticals announced a collaboration to discover, develop and commercialize new RNA interference (RNAi) therapeutics for a broad range of diseases by addressing disease targets expressed in the eye and central nervous system (CNS), in addition to a select number of targets expressed in the liver.
The collaboration will leverage both companies’ scientific and technological expertise and will build on Alnylam’s recent preclinical data showing potent and highly durable delivery of RNAi therapeutics to achieve target gene silencing in the eye and CNS.
The collaboration will also benefit from Regeneron’s industry-leading VelociSuite technologies and capabilities from the Regeneron Genetics Center (RGC).
Alnylam will work exclusively with Regeneron to discover RNAi therapeutics for eye and CNS diseases.
Regeneron will lead development and commercialization for all programs targeting eye diseases, with Alnylam entitled to potential milestone and royalty payments.
The companies will jointly advance and alternate leadership on CNS programs, with the lead party retaining global development and commercial responsibility.
For CNS programs, both companies will have the option at candidate selection to participate equally in potential future profits of programs led by the other party.
The collaboration also includes a select number of RNAi therapeutic programs designed to target genes expressed in the liver, which can influence a wide variety of diseases throughout the body.
These programs include a planned joint effort evaluating anti-C5 antibody-siRNA combinations for C5 complement-mediated diseases including evaluating the combination of Regeneron’s pozelimab (REGN3918), currently in Phase 1 development, with Alnylam’s cemdisiran, currently in Phase 2 development.
Alnylam will retain control of cemdisiran monotherapy development, and Regeneron will lead combination development.
The parties will equally share investment and potential future profits on the monotherapy program, and Alnylam will receive royalties on any potential combination product sales.
For all other alliance liver programs, the parties will alternate leadership and participate equally in potential profits.
The companies will continue their previously-announced collaboration to identify RNAi therapeutics for the chronic liver disease nonalcoholic steatohepatitis (NASH) based on novel RGC findings.
Alnylam retains broad global rights to all of its other unpartnered liver-directed clinical and preclinical pipeline programs.
Regeneron has agreed to make a $400 million upfront payment to Alnylam and to purchase $400 million of Alnylam equity at a price per share of $90.00 (4.44 million common shares), based on the volume-weighted average price over the last fifteen-trading-day period.
Alnylam is eligible to receive up to an additional $200 million in milestone payments upon achievement of certain criteria during early clinical development for the eye and CNS programs.
The companies plan to advance programs directed to 30 targets and introduce many into clinical development during the initial five-year discovery period, which includes an option to extend.
For each program, Regeneron will provide Alnylam with $2.5 million in funding at program initiation and an additional $2.5 million at lead candidate identification, translating to the potential for approximately $30 million in annual discovery funding to Alnylam as the alliance reaches steady state.
|PHC Holdings, Thermo Fisher Scientific||Jan 2019||1140||Asset purchase agreement for anatomical pathology business|
PHC Holdings has signed a definitive agreement with Thermo Fisher Scientific to acquire Thermo Fisher’s Anatomical Pathology business for approximately US$ 1.14 billion.
|Kymera Therapeutics, Vertex Pharmaceuticals||May 2019||1070||Collaboration, option and licensing agreement for targeted protein degradation medicines for serious diseases|
Vertex Pharmaceuticals and Kymera Therapeutics have entered into a four-year strategic research and development collaboration to advance small molecule protein degraders against multiple targets.
The collaboration will leverage Kymera’s expertise in targeted protein degradation and its proprietary Pegasus drug discovery platform and Vertex’s scientific, clinical, and regulatory capabilities to accelerate the development of first-in-class medicines for people with serious diseases.
Vertex will pay Kymera $70 million upfront including an equity investment in the company.
Kymera will conduct research activities in multiple targets under the collaboration.
Upon designation of a clinical development candidate, Vertex has the option to exclusively license molecules against the designated target.
Kymera is also eligible to receive more than $1 billion in potential payments based upon the successful achievement of specified research, development, regulatory, and commercial milestones for up to six programs optioned as part of the collaboration.
Vertex will pay tiered royalties on future net sales on any products that may result from this collaboration.
|Gilead Sciences, Insitro||Apr 2019||1050||Collaboration, option and licensing agreement for therapies for nonalcoholic steatohepatitis|
Gilead Sciences and insitro have entered into a strategic collaboration to discover and develop therapies for patients with nonalcoholic steatohepatitis (NASH).
insitro’s proprietary platform will be utilized to create disease models for NASH and discover targets that have an influence on clinical progression and regression of the disease.
The insitro Human (ISH) platform applies machine learning, human genetics and functional genomics to generate and optimize unique in vitro models and drive therapeutic discovery and development.
The ISH platform will provide insights into disease progression, suggest candidate targets, and predict patient responses to potential therapeutic interventions.
Gilead can advance up to five targets identified through this collaboration and will be responsible for chemistry and development against these targets.
insitro will receive an upfront payment of $15 million, with additional near-term payments up to $35 million based on operational milestones.
insitro will be eligible to receive up to $200 million for the achievement of preclinical, development, regulatory and commercial milestones for each of the five Gilead targets; and up to low double-digit tiered royalties on net sales.
For programs where insitro opts in, it will have the right to co-develop and co-detail in the U.S., receive a profit share in China and receive milestone payments and royalties on other ex-U.S. sales.
|Genentech, Sosei, Sosei Heptares||Jul 2019||1026||Collaboration and licensing agreement for medicines that modulate G protein-coupled receptor targets|
Sosei has entered into a multi-target research collaboration and license agreement with Genentech to discover and develop novel medicines (new small molecules and/or biologics) that modulate G protein-coupled receptor (GPCR) targets of interest to Genentech.
The collaboration will combine the proprietary GPCR-focused structure-based drug design capabilities at Sosei Heptares with Genentech's discovery, development and therapeutic area expertise directed towards multiple GPCR targets nominated by Genentech.
The nominated targets represent promising new therapeutic intervention points across a range of diseases.
Genentech will be responsible for developing and commercializing potential new medicines for each novel target and will have exclusive global rights to these agents.
Sosei Heptares is eligible to receive US$26 million in upfront and near-term payments, in addition to future milestone payments that may exceed US$1 billion for achieving pre-specified research, development and commercialization events.
Sosei Heptares is also eligible to receive royalty payments on the net sales of potential future medicines resulting from the collaboration.
|Cytovant Sciences, MediGene||Apr 2019||1010||Collaboration and licensing agreement for research-stage T cell immunotherapy targeting NY-ESO-1 as well as a DC vaccine targeting WT-1 and PRAME|
Cytovant has entered into a multi-program license and collaboration agreement with Medigene.
Medigene has granted Cytovant exclusive licenses to develop, manufacture, and commercialize Medigene's research-stage T cell immunotherapy targeting NY-ESO-1 as well as a DC vaccine targeting WT-1 and PRAME, in Greater China, South Korea, and Japan.
Cytovant and Medigene have entered into a strategic collaboration and discovery agreement for T-cell receptor (TCR) immunotherapies for two additional targets.
Medigene will be responsible for the generation and delivery of the TCR constructs using its proprietary TCR discovery and isolation platform.
Following this research collaboration period, Cytovant will assume sole responsibility for the development and commercialization of these TCR therapies in the relevant countries.
The TCRs to be generated by Medigene will be tailored specifically to Asian patients.
Medigene will receive an overall upfront payment of USD 10 million as well as potential development, regulatory, and commercial milestone payments which in aggregate could total over USD 1 billion for the four products across multiple indications.
Medigene will be eligible to receive royalty payments on net sales of the products in a low double-digit percentage in the relevant countries.
Cytovant will reimburse all R&D costs incurred by Medigene within the collaboration.
|Dermelix Biotherapeutics, Exicure||Feb 2019||1002||Development and licensing agreement for spherical nucleic acid therapeutics in rare genetic skin diseases|
Exicure and Dermelix Biotherapeutics announced a license and development agreement to advance SNA therapeutics in rare genetic skin diseases.
Dermelix licensed worldwide rights to research, develop, and commercialize Exicure’s technology for the treatment of Netherton Syndrome and up to five additional rare skin indications.
Dermelix will initially develop a targeted therapy for the treatment of Netherton Syndrome (NS).
Exicure will receive an upfront payment of $1 million at closing of the transaction and will receive an additional $1 million upon the exercise of each of the five options granted to Dermelix.
Exicure will be responsible for conducting the early stage development for each indication up to IND enabling toxicology studies.
Dermelix will assume subsequent development, commercial activities and financial responsibility.
Exicure is eligible to receive potential payments following the achievement of certain clinical, regulatory, and commercial milestones of approximately $166 million per indication in each of six indications.
Exicure will receive low double-digit royalties on annual net sales for SNA therapeutics developed.
|Centrexion, Eli Lilly||May 2019||997.5||Licensing agreement for CNTX-0290|
Eli Lilly announced a license agreement to acquire the exclusive worldwide rights for CNTX-0290 from Centrexion Therapeutics.
CNTX-0290, is a novel, small molecule somatostatin receptor type 4 (SSTR4) agonist that is currently being studied in Phase 1 clinical testing as a potential non-opioid treatment for chronic pain conditions.
Lilly will pay Centrexion an upfront payment of $47.5 million and Centrexion may be eligible for up to $575 million in potential development and regulatory milestones.
If CNTX-0290 is successfully commercialized, Centrexion would be eligible for up to $375 million in potential sales milestones and tiered royalties ranging from the high-single to low-double digits.
Lilly and Centrexion may also elect at a later date to co-promote CNTX-0290 in the U.S.
|Celgene, Facit, Triphase Accelerator||Jan 2019||980||Collaboration, option and licensing agreement for therapeutic targeting WDR5 protein for treatment of blood cancers including leukemia|
Triphase Accelerator, FACIT, announced a new strategic collaboration with Celgene for a first-in-class preclinical therapeutic targeting the WDR5 protein for the treatment of blood cancers including leukemia.
Triphase is a drug development company advancing novel compounds through Phase 2 proof-of-concept, including the WDR5 program.
Celgene has the option to acquire TRPH-395 from Triphase Accelerator.
Celgene will pay an upfront of US$40M and upon exercise of the option, Celgene will pay up to US$940M in contingent development, regulatory and sales milestones.
Additional payments for sales-based royalties are also possible.
|C4 Therapeutics, Roche||Jan 2019||900||Collaboration and option agreement for degrader-based medicines|
C4 Therapeutics announced the transformation of its ongoing research and development partnership with Roche focusing on new cancer treatments based on C4T’s targeted protein degradation technology.
C4T will lead efforts from discovery through defined preclinical or early clinical milestones, depending on the program.
Upon C4T reaching these milestone events, Roche will have exclusive options for worldwide rights to continue development and commercialize drugs from these programs.
C4T will have the option to co-develop and co-promote in the U.S. on selected programs.
C4T will receive a significant upfront payment and near-term preclinical milestones.
Upon success C4T may also receive royalties and potential clinical, regulatory, and commercial milestone payments totaling over $900 million.
|Biogen, Fujifilm||Mar 2019||890||Asset purchase agreement for biologics site|
Biogen has entered into a share purchase agreement with FUJIFILM under which Fujifilm will acquire the shares of Biogen’s subsidiary, which holds Biogen’s biologics manufacturing operations in Hillerød, Denmark, for up to $890 million in cash, subject to minimum purchase commitment guarantees and other contractual terms.
The approximately 800 employees at the Hillerød subsidiary are expected to continue employment under Fujifilm ownership.
As part of the proposed transaction, Biogen also announced today that it will enter into manufacturing services agreements with Fujifilm.
Following the completion of the transaction, Fujifilm will use the Hillerød site to produce commercial products for Biogen, such as TYSABRI, as well as other third-party products.
|Boehringer Ingelheim, Yuhan Corporation||Jul 2019||870||Collaboration and licensing agreement for dual agonist (GLP1R/FGF21R agonist) for NASH|
Boehringer Ingelheim and Yuhan announced a collaboration and license agreement for the development of a first-in-class dual agonist for the treatment of NASH and related liver diseases that combines GLP-1 and FGF21 activity in one molecule.
The collaboration brings together Yuhan Corporation’s expertise in FGF21 biology, obesity and NASH with Boehringer Ingelheim’s pharmaceutical expertise and commitment to bringing innovative medicines to patients with cardiometabolic diseases.
Yuhan Corporation will receive an upfront and near term payments of USD 40 million and is eligible to receive up to USD 830 million in potential milestone payments plus tiered royalties on future net sales.
|Evotec, Takeda Pharmaceutical||Sep 2019||850||Collaboration agreement for small molecule drug discovery|
Evotec announced a strategic, multi-year drug discovery collaboration with Takeda Pharmaceutical.
Under the collaboration, the parties aim to establish at least five drug discovery programmes with the goal of Evotec delivering clinical candidates for Takeda to pursue into clinical development.
The collaboration combines Evotec’s ability to effectively drive fully integrated drug discovery programmes with Takeda’s strategic insights into transformative therapeutic approaches in Takeda’s four core therapeutic areas: Oncology, Gastroenterology, Neuroscience and Rare Diseases, as well as Takeda’s development and commercialisation expertise.
Evotec will leverage its industry-leading discovery platform to validate therapeutic hypotheses and advance small molecule programmes with Takeda having options to assume responsibility at lead series and upon Evotec delivering a pre-clinical candidate.
Takeda will pay Evotec a one-time, upfront fee to access its platforms.
Evotec is eligible to receive pre-clinical, clinical, and commercial milestones that can total in excess of $ 170 m per programme as well as tiered royalties on future sales.
|IFM Therapeutics, Novartis||Sep 2019||840||Collaboration and option agreement for suite of immunotherapies that inhibit the cGAS/STING pathway|
IFM Therapeutics announced that IFM Due, an IFM subsidiary company, has reached a collaboration and exclusive option agreement with Novartis to develop a suite of immunotherapies that inhibit the cGAS/STING pathway to treat a range of serious inflammatory and autoimmune diseases.
Novartis will make fixed payments sufficient to fully finance IFM Due's research and development costs for the cGAS/STING program in exchange for the option to acquire the IFM Due subsidiary.
Upon option exercise, IFM Due's shareholders will be entitled to consideration in aggregate value of up to $840 million, including an upfront payment upon option closing and other contingent consideration.
|Everest Medicines, Immunomedics||Apr 2019||835||Licensing agreement for sacituzumab govitecan|
Immunomedics and Everest Medicines announced an exclusive license agreement to develop, register, and commercialize sacituzumab govitecan in Greater China, South Korea and certain Southeast Asian countries.
Immunomedics will receive an upfront payment of $65 million and an additional $60 million based on U.S. FDA approval of sacituzumab govitecan in metastatic triple-negative breast cancer.
Everest will develop and commercialize the product in various global and local indications across the Territory.
The Company is eligible to receive development and sales milestone payments of up to $710 million, as well as escalating tiered royalties that begin in the mid-teens based on net sales within the Territory.
Everest Medicines will be responsible for all costs associated with the clinical development and commercialization of sacituzumab govitecan in the Territory, while a Joint Steering Committee will be established between the companies to oversee the overall strategy and priorities.
|Ligand Pharmaceuticals, Royalty Pharma||Mar 2019||827||Royalty financing for Promacta|
Ligand Pharmaceuticals and Royalty Pharma announce the sale of Ligand’s Promacta-related intellectual property rights licensed to Novartis, including the royalty stream on worldwide net sales of Promacta to Royalty Pharma for $827 million in cash.
Promacta (eltrombopag) is known as Revolade outside the U.S. and is marketed worldwide by Novartis.
This transaction is expected to close on Wednesday, March 6, 2019.
Highlights of the transaction to monetize the Promacta royalty include:
Provides substantial cash payment for Ligand’s leading royalty asset.
Ligand’s 2019 revenues are now expected to be approximately $118 million and 2019 adjusted diluted EPS to be approximately $32.25, compared to the previous guidance of $6.05.
Proceeds to be reinvested by Ligand primarily to
1) acquire assets that can generate long-term revenue streams, fully-funded Shots on Goal and technology platforms to drive future deal making and
2) share repurchases to increase the per share profits and cash-flow for the existing business.
Ligand will enter the second quarter of 2019 with highly-diversified and high-growth revenue streams, more than 200 Shots on Goal fully funded by partners, three major technology platforms to drive new licensing and over $3.5 billion of potential contract payments with existing partners.
At the close of the transaction, Ligand estimates it will have over $1.4 billion of cash.
In addition, the long-term growth potential for the OmniAb platform is accelerating, given R&D progress by partners and new licensing transactions.
|Janssen Pharmaceuticals, Locus Biosciences||Jan 2019||818||Collaboration and licensing agreement for CRISPR-Cas3 bacteriophage therapeutics|
Locus Biosciences has entered into an exclusive collaboration and license agreement with Janssen Pharmaceuticals to develop, manufacture and commercialize CRISPR-Cas3-enhanced bacteriophage ("crPhage™") products targeting two key bacterial pathogens for the potential treatment of infections of the respiratory tract and other organ systems.
Johnson & Johnson Innovation LLC facilitated the transaction.
Locus will receive $20 million in initial payments, and is eligible to receive up to a total of $798 million in potential future development and commercial milestone payments, and royalties on any product sales.
|Gilead Sciences, Yuhan Corporation||Jan 2019||785||Co-development and licensing agreement for treatments for advanced fibrosis due to NASH|
Gilead Sciences and Yuhan have entered into a licensing and collaboration agreement to co-develop novel therapeutic candidates for the treatment of patients with advanced fibrosis due to nonalcoholic steatohepatitis (NASH).
Gilead will acquire global rights to develop and commercialize novel small molecules against two undisclosed targets in all countries, with the exception of the Republic of Korea where Yuhan will retain certain commercialization rights.
Yuhan and Gilead will jointly conduct preclinical research, and Gilead will be responsible for global clinical development.
Gilead will also be responsible for commercialization worldwide, outside of Yuhan’s rights in the Republic of Korea.
Yuhan will receive an upfront payment of $15 million and is eligible to receive up to an additional $770 million in potential milestone payments upon achievement of certain development and commercial milestones, as well as royalties on future net sales.
This agreement builds on the companies’ existing commercial collaboration to support the promotion of Gilead’s medicines in the Republic of Korea.
|Arvinas, Bayer||Jun 2019||740||Joint venture and development agreement for proteolysis-targeting chimera candidates for humans and plants|
Bayer announced a collaboration with Arvinas.
The new life science research partnership uniquely leverages the full potential of Arvinas' novel PROTAC technology, coupled with leading expertise of Bayer in health and agriculture to develop innovations for the benefit of patients and farmers.
Bayer will form an exclusive joint venture as the first company to explore the PROTAC technology in agriculture for crop protection, and at the same time, establish a target-based pharmaceutical research collaboration with Arvinas.
Bayer will make an equity investment to sustain its commitment for the technology.
Within the framework of the joint venture, the exploration of novel molecular targets to address weeds, insects and/or diseases that threaten crops worldwide will be pioneered.
As the technology degrades targets rather than inhibiting them, it offers a completely new category of crop protection applications in agriculture.
In addition, PROTACs have the potential to revive crop protection mechanisms that have become ineffective due to resistance.
Under the framework of the joint venture, Bayer has committed more than $55 million over six years to translate the new protein degradation technology in agro chemistry and to build an agro-specific PROTAC IP portfolio.
Arvinas will receive an upfront payment and pharmaceutical R&D support over the next four years, as well as a direct equity investment.
These investments, combined, will exceed $60 million.
Bayer will own the rights to novel lead structures generated in the course of the collaboration.
As programs progress through research, development, and commercialization, Arvinas is eligible to receive pre-defined development milestones of over $685 million and commercial royalties.
|Janssen Biotech, Morphic Therapeutic||Feb 2019||725||Collaboration agreement for novel integrin therapeutics|
Morphic Therapeutic has entered into a research and development collaboration with Janssen Biotech to discover and develop novel integrin therapeutics for patients with conditions not adequately addressed by current therapies.
Johnson & Johnson Innovation LLC facilitated the transaction.
The collaboration focuses on several undisclosed integrin targets and will explore both inhibitors and activators of integrin function.
Under the terms of the agreement, the companies will collaborate through preclinical development to identify and advance candidates.
Upon completing Investigational New Drug enabling studies, Janssen may exclusively option the licensed compounds, and then Janssen will be responsible for global clinical development and commercialization.
Janssen will pay Morphic an undisclosed upfront payment and will fund research activities.
Morphic will receive from Janssen multiple preclinical development, clinical and commercial milestone payments totaling over $725 million if such milestones are achieved.
Morphic will also receive royalties on worldwide net sales for any products resulting from the collaboration.
|Boehringer Ingelheim, Lupin Limited||Sep 2019||720||Development and licensing agreement for MEK inhibitor compound (LNP3794) as a potential targeted therapy for patients with difficult-to-treat cancers|
Boehringer Ingelheim and Lupin announced a licensing, development and commercialization agreement for Lupin’s MEK inhibitor compound (LNP3794) as a potential targeted therapy for patients with difficult-to-treat cancers.
The partnership aims to develop Lupin’s lead MEK inhibitor compound in combination with one of Boehringer Ingelheim’s innovative KRAS inhibitors for patients with gastrointestinal and lung cancers harboring a broad range of oncogenic KRAS mutations.
The collaboration has a strategic goal to focus on patients with gastrointestinal or lung cancers defined by KRAS mutations, sub-populations that currently need more effective therapeutic options.
Lupin will receive an upfront payment of $20 million and potential additional payments for successful achievement of defined clinical, regulatory and commercial milestones for a total deal value of more than $700 million.
Lupin will be entitled to receive double-digit royalties on the sales of the product.
|AgonOx, Talem Therapeutics||Sep 2019||720||Joint venture agreement for antibody therapeutics to target T cell mediated anti-tumor activity|
Talem Therapeutics has entered into an LOI to form a Joint Venture as it partners in the continued development of antibody therapeutics to target T cell mediated anti-tumor activity, with AgonOx.
This partnership will advance two of AgonOx's top 10 candidates to emerge from its translational science platform focused on modulation of the tumor microenvironment and, if commercialized, may result in approximately $720 million USD comprised of licensing fees, as well as development and commercial milestones in addition to royalties on worldwide sales.
Talem will leverage the internal development capabilities of ImmunoPrecise, including high throughput, rapid identification of candidates through single cell interrogation, as well as accessing synthetic and natural immune phage libraries, and its bispecific platform, Abthena.
All of these technologies integrate seamlessly with IPA's integrated Artemis Intelligence Metadata (AIM) capabilities to enable rapid turnaround on additional outputs in therapeutic optimization, stability, affinity, and manufacturability.
Both companies will aid in the functional analyses of the candidates, while AgonOx also pulls from its experience in pre-clinical and clinical development, built, in part, on access to physicians and relevant samples through their alignment with the Earl A. Chiles Research Institute at the Providence Cancer Institute.
|Ribometrix, Vertex Pharmaceuticals||Sep 2019||720||Collaboration, development, option and licensing agreement for RNA-targeted small molecule therapeutics|
Vertex Pharmaceuticals and Ribometrix have entered into a strategic collaboration to discover and develop novel RNA-targeted small molecule therapeutic candidates for serious diseases.
The collaboration will combine Ribometrix’s proprietary discovery platform for identifying and optimizing small molecule therapeutics that modulate RNA function by targeting three-dimensional (3D) RNA structures with Vertex’s scientific, clinical and regulatory capabilities for up to three therapeutic programs, including one ongoing discovery program from Ribometrix.
Vertex will pay Ribometrix approximately $20 million upfront, which includes an equity investment in the company.
Ribometrix will undertake two discovery programs with Vertex, and Vertex has an option to add a third program.
Following discovery and optimization of novel therapeutic molecules, Vertex has the option to take an exclusive global license for the development and commercialization of molecules for that program.
Ribometrix is eligible to receive more than $700 million in total potential payments based upon the successful achievement of specified research, development, regulatory and commercial milestones as part of the collaboration.
Vertex will pay tiered royalties on future net global sales on any products that result from the collaboration.
|StrideBio, Takeda Pharmaceutical||Mar 2019||710||Collaboration and licensing agreement for gene therapies for neurological diseases|
StrideBio announced the signing of a collaboration and license agreement with Takeda Pharmaceutical to develop in vivo AAV based therapies for Friedreich's Ataxia (FA) and two additional undisclosed targets.
These programs aim to utilize novel AAV capsids developed by StrideBio to improve potency, evade neutralizing antibodies and enhance specific tropism to tissues including the central nervous system.
StrideBio will be responsible for AAV capsid development, non-clinical development and manufacturing of preclinical candidates to be selected for advancement into clinical studies.
Takeda will be responsible for clinical development and commercialization of selected candidates arising from the collaboration.
A total of three targets are specified under the collaboration, with the initial target being Friedreich's Ataxia.
StrideBio is eligible to receive approximately $30 million in upfront and near term pre-clinical milestones, as well as an additional $680 million in future development and commercial milestones from Takeda.
StrideBio will also receive royalties on worldwide net sales of any commercial products developed through the collaboration.
Further financial terms were not disclosed.
|Alexion Pharmaceuticals, Zealand Pharma||Mar 2019||695||Collaboration agreement for peptide therapies for complement-mediated diseases|
Alexion Pharmaceuticals and Zealand Pharma announced a collaboration to discover and develop novel peptide therapies for complement-mediated diseases.
Peptides offer a number of advantages, including being highly selective and potent, allowing low dosage volumes for ease of administration, and having the potential to treat a broad range of complement-mediated diseases.
The agreement provides Alexion with exclusive worldwide licenses, as well as development and commercial rights, for up to four targets within the complement pathway.
Alexion and Zealand will enter into an exclusive collaboration for the discovery and development of subcutaneously delivered peptide therapies directed to up to four complement pathway targets.
Zealand will lead the joint discovery and research efforts through the preclinical stage, and Alexion will lead development efforts beginning with IND filing and Phase 1 studies.
The agreement provides Alexion with exclusive worldwide licenses and commercial rights to the peptide therapies developed in the collaboration.
Zealand will receive an immediate upfront payment of $25 million for the first target, with Alexion making a concurrent $15 million equity investment in Zealand Pharma at a premium to the market price as of the collaboration effective date.
For the lead target, the agreement provides the potential for development-related milestones of up to $115 million, as well as up to $495 million in sales-related milestones and the potential for high single- to low double-digit royalty payments.
Each of the three subsequent targets can be selected for an option fee of $15 million and has the potential for additional development milestones and sales milestones and royalty payments at a reduced price to the lead target.
|Pfizer, Vivet Therapeutics||Mar 2019||686.8||Collaboration and option agreement for VTX-801 treatment for Wilson disease|
Vivet Therapeutics and Pfizer announced that Pfizer has acquired a 15% equity interest in Vivet and secured an exclusive option to acquire all outstanding shares. Pfizer and Vivet will collaborate on the development of VTX-801, Vivet’s proprietary treatment for Wilson disease.
Pfizer paid approximately €45 million (US$51 million) upon signing and may pay up to €560 million (US$635.8 million) inclusive of the option exercise payment and subject to certain clinical, regulatory, and commercial milestones.
Pfizer can exercise its option to acquire 100% of Vivet following the company’s delivery of certain data from the Phase I/II clinical trial for VTX-801.
Pfizer senior executive Monika Vnuk, M.D., Vice President, Worldwide Business Development, will join Vivet’s Board of Directors.
Other terms of the transaction were not disclosed.
|Affibody, Alexion Pharmaceuticals||Mar 2019||650||Co-development, option and co-promotion agreement for anti-FcRn Affibody molecule, ABY-039|
Alexion Pharmaceuticals and Affibody announced a partnership to co-develop ABY-039 for rare Immunoglobulin G (IgG)-mediated autoimmune diseases.
Currently in Phase 1 development, ABY-039 is a bivalent antibody-mimetic that targets the neonatal Fc receptor (FcRn).
ABY-039 has been specifically designed to combine Affibody’s protein therapeutics platform (Affibody molecules) and Albumod technology to achieve a long half-life, which, along with its small size provides the potential for less frequent, convenient, at-home subcutaneous administration.
Alexion will provide Affibody with an upfront payment of $25 million, with the potential for additional development- and sales-based milestones of up to $625 million and tiered low double-digit royalty payments.
Alexion will lead joint clinical development of ABY-039 and commercialization activities.
Affibody has the option to co-promote ABY-039 in the U.S. and will lead clinical development for an undisclosed indication.
|Cidara Therapeutics, Mundipharma||Sep 2019||640||Co-development and licensing agreement for Rezafungin|
Cidara Therapeutics and Mundipharma have entered into a strategic partnership to develop and commercialize rezafungin for the treatment and prevention of invasive fungal infections.
Rezafungin is a novel, once-weekly echinocandin antifungal being developed for the first-line treatment of candidemia and invasive candidiasis as well as for the prophylaxis of invasive fungal infections in patients undergoing allogeneic blood and marrow transplantation, for which no new therapies have been approved in over 13 years.
The partnership agreement follows Cidara’s recent announcement of the successful completion of its STRIVE B Phase 2 trial.
Under the terms of the agreement, in exchange for granting Mundipharma exclusive commercialization rights to rezafungin outside the U.S. and Japan, Cidara will receive a $30 million upfront payment and Mundipharma will make a $9 million equity investment in Cidara.
Cidara will also receive an additional $42 million in near-term funding to support the global Phase 3 ReSTORE and ReSPECT trials for the treatment and prevention of fungal infections.
Cidara is eligible to receive development, regulatory and commercial milestone payments, representing a total potential transaction value of $568 million plus double-digit royalties.
Cidara will continue to lead the ongoing global Phase 3 development programs for rezafungin with the support of Mundipharma.
The companies may pursue additional indications or formulations of rezafungin.
|Astellas Pharma, Frequency Therapeutics||Jul 2019||625||Licensing agreement for FX-322|
Astellas Pharma and Frequency Therapeutics have entered into an exclusive license agreement to develop and commercialize Frequency’s regenerative therapeutic candidate, FX-322, for the treatment of sensorineural hearing loss, the most common type of hearing loss.
Astellas will be responsible for the development and commercialization of FX-322 outside of the U.S. and Frequency will be responsible for U.S. development and commercialization.
The companies will be jointly responsible for conducting global clinical studies and coordinating commercial launch activities.
Frequency will receive an upfront payment of $80 million and may also receive up to an additional $545 million based on development and commercial milestones, as well as royalties on any future product sales in the licensed territory.
|Cantex Pharmaceuticals, Chimerix||Jul 2019||617.5||Licensing agreement for CX-01 for acute myeloid leukemia|
Chimerix announced the completion of an exclusive worldwide license of CX-01 from Cantex Pharmaceuticals.
Chimerix intends to move quickly into Phase 3 development of CX-01 for the treatment of Acute Myeloid Leukemia (AML) in the first-line setting.
CX-01 has received Fast Track and Orphan Drug Designations from the U.S. Food and Drug Administration for the treatment of AML.
Chimerix has exclusive worldwide rights to develop and commercialize CX-01. Chimerix will make an upfront payment of $30 million to Cantex.
Chimerix has issued 10 million shares of Chimerix common stock to Cantex.
Cantex is eligible for regulatory and commercial milestones of up to $587.5 million, and tiered royalties starting at 10%.
|Eli Lilly, ImmuNext||Mar 2019||605||Collaboration and licensing agreement for new medicines for autoimmune diseases by regulating immune cell metabolism|
Eli Lilly and ImmuNext announced a global licensing and research collaboration focused on the study of a preclinical novel target that could lead to potential new medicines for autoimmune diseases by regulating immune cell metabolism.
ImmuNext will receive an upfront payment of $40 million, and is eligible to receive up to approximately $565 million in development and commercialization milestones, as well as tiered royalties ranging from the mid-single to low-double digits on product sales.
ImmuNext will grant Lilly an exclusive, worldwide license to develop and commercialize the novel immunometabolism target.
Lilly and ImmuNext will establish a 3-year research collaboration to support the target's development.
|Alexion Pharmaceuticals, Caelum Biosciences||Jan 2019||560||Development, option and licensing agreement fro CAEL-101 for light chain (AL) amyloidosis|
Caelum Biosciences has signed a strategic agreement with Alexion Pharmaceuticals to advance the development of CAEL-101 for light chain (AL) amyloidosis.
CAEL-101 is a first-in-class amyloid fibril targeted therapy designed to improve organ function by reducing or eliminating amyloid deposits in patients with AL amyloidosis.
Alexion will acquire a minority equity interest in Caelum and an exclusive option to acquire the remaining equity in the company based on Phase 2 data for pre-negotiated economics.
Alexion will make payments to Caelum totaling up to $60 million, including the purchase price for the equity and milestone-dependent development funding payments.
The collaboration also provides for potential additional payments of up to $500 million, including the upfront and regulatory and commercial milestone payments, in the event Alexion exercises the acquisition option.
The collaboration will leverage Alexion’s expertise in rare disease antibody development and commercial franchise in hematology.
Alexion and Caelum will collaborate on the design of the ongoing development program for CAEL-101.
Caelum will be responsible for conducting the development program through the end of Phase 2 and for manufacturing CAEL-101.
|Atomwise, Eli Lilly||Jun 2019||560||Collaboration agreement for AI driven drug discovery|
Atomwise announced a multi-year agreement with Eli Lilly to apply Atomwise’s patented artificial intelligence (AI) technology in support of Lilly’s preclinical drug discovery efforts.
The companies will collaborate on up to ten drug targets selected by Lilly, with the goal of accelerating the time it takes to identify and develop potential new medicines.
Atomwise could receive up to $1 million per target in discovery milestones and will be eligible for up to $550 million in potential development and commercialization milestones inclusive of all targets.
Atomwise will have the option to develop compounds from the collaboration that Lilly chooses not to advance into clinical testing.
|Bayer, Beiersdorf||May 2019||550||Asset purchase agreement for Coppertone|
Beiersdorf entered into a definitive agreement with Bayer for the purchase of Bayer’s sun care business marketed under the Coppertone brand for a purchase price of USD 550 million.
|Department of Health and Human Services, Emergent BioSolutions||Jun 2019||535||Contract service and supply agreement for vaccinia immune globulin intravenous (VIGIV) in support of smallpox preparedness|
Emergent BioSolutions announced a contract award by the Office of the Assistant Secretary for Preparedness and Response (ASPR) in the U.S. Department of Health and Human Services (HHS) valued at approximately $535 million over 10 years for the continued supply of Vaccinia Immune Globulin Intravenous (VIGIV) into the U.S. Strategic National Stockpile (SNS) in support of smallpox preparedness.
|Halozyme Therapeutics, argenx||Feb 2019||530||Collaboration and licensing agreement for ENHANZE technology|
Halozyme Therapeutics announced that argenx has selected a second target under the collaboration and license agreement the companies announced in February 2019.
argenx and Halozyme Therapeutics announced a global collaboration and license agreement that enables use by argenx of Halozyme's ENHANZE drug delivery technology to develop multiple subcutaneous product formulations for current or future argenx product candidates.
The agreement provides argenx exclusive access to ENHANZE for any product targeting the human neonatal Fc receptor FcRn, including argenx's lead asset efgartigimod (ARGX-113) and up to two additional targets, potentially shortening drug administration time, reducing healthcare practitioner time, and offering additional flexibility and convenience for patients.
argenx will pay an upfront payment of $30 million to Halozyme, $10 million per target for future target nominations and potential future payments of up to $160 million per selected target subject to achievement of specified development, regulatory and sales-based milestones.
Halozyme will also receive mid-single digit royalties on sales of commercialized products.
|Arvelle Therapeutics, SK Biopharmaceuticals||Feb 2019||530||Development and licensing agreement for Cenobamate|
SK Biopharmaceuticals and Arvelle Therapeutics have entered into an exclusive licensing agreement for Arvelle to develop and commercialize cenobamate in Europe.
Cenobamate is a novel, small molecule investigational antiepileptic drug for the potential treatment of partial-onset seizures in adult patients.
SK Biopharmaceuticals will receive an upfront payment of $100 million and is eligible to receive up to $430 million upon achievement of certain regulatory and commercial milestones in addition to royalties on net sales generated in Europe.
SK Biopharmaceuticals will have an option to obtain a significant equity stake in Arvelle and will also retain commercial rights for all non-European territories.
|Celgene, Jounce Therapeutics||Jul 2019||530||Licensing agreement for JTX-8064|
Jounce Therapeutics announced an update on its strategic collaboration with Celgene.
Under the terms of a new license agreement, Celgene has licensed worldwide rights to JTX-8064, a highly-selective, potential first-in-class antibody that targets the LILRB2 receptor on macrophages.
Jounce retains full worldwide rights to its pipeline beyond JTX-8064, including vopratelimab, JTX-4014 and all discovery programs, as Jounce and Celgene have also entered into a mutual agreement to terminate their original strategic collaboration agreement.
Under the terms of the new license agreement for JTX-8064, Jounce receives a $50.0 million non-refundable license fee and is eligible to receive from Celgene up to $480 million in development, regulatory and commercial milestone payments, as well as royalties on potential worldwide sales.
Celgene will be responsible for all development and commercialization of JTX-8064.
|NovImmune, Swedish Orphan Biovitrum||Jun 2019||516.4||Asset purchase agreement for emapalumab and related assets|
Swedish Orphan Biovitrum has signed an agreement to acquire, from Novimmune’s shareholders, a newly established company owning emapalumab and related assets, giving Sobi access to world-class R&D capabilities in the field of Immunology.
The acquisition means that the previously announced exclusive licence agreement with Novimmune will be superseded.
Through the acquisition of emapalumab, Sobi gains access to:
All assets relating to emapalumab including intellectual property, patent rights, data and know-how
All relevant and highly experienced employees involved in the clinical and biopharmaceutical development of emapalumab
Options for the shared financial rights to NI-1701 and NI-1801, two product candidates in the field of immuno-oncology
A priority review voucher within the US Food & Drug Administration’s priority review programme, which offers companies investing in orphan drugs a cost reduction for the application fee for future products and shortens the review period. The voucher can be used or sold by Sobi.
The consideration for the acquisition is CHF 515 M (SEK 4,897 M), of which CHF 400 M was previously committed in the exclusive licence agreement for emapalumab.
The acquisition is expected to be earnings neutral in 2019 and completed during Q3 2019, subject to customary closing conditions.
|HemoShear, Horizon Pharma plc||Jan 2019||500||Collaboration agreement for drug discovery in gout|
Horizon Pharma and HemoShear Therapeutics announced a collaboration to discover and develop novel therapeutics for gout.
HemoShear will receive upfront payments and R&D funding, and Horizon will receive exclusive access to HemoShear’s proprietary disease modeling platform to discover new therapeutics for gout.
Successful development and commercialization of multiple therapies by Horizon will make HemoShear eligible to receive milestone payments of potentially more than $500 million plus royalties.
Further financial terms were not disclosed.