Deals channel feed

Steve Hurly, LAVA Therapeutics CEO

Seagen tees up with Dutch I/O out­fit, en­gi­neers $700M deal for EGFR as­set

Amid reports that Merck was going to acquire Seagen, the Seattle company decided to do its own M&A — securing a back-heavy deal.

The antibody-drug conjugate powerhouse announced bright and early Monday that it would be shelling out as much as $700 million to LAVA Therapeutics, a Netherlands-based gamma delta T cell engager biotech, for its EGFR-targeting drug candidate.

The candidate, called LAVA-1223, is in an advanced preclinical stage, LAVA CEO Steve Hurly tells Endpoints News.

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Armed with cash, Bel­gian iP­SC play­er makes a play for Celyad’s cell ther­a­py man­u­fac­tur­ing site

A Belgian cell therapy player has netted a deal close to home.

Ncardia, a Belgium-based contract research company, spun out its cell therapy and manufacturing arm in April into a company called Cellistic. Now, the spin-out has acquired an 11,000-square-foot facility in the town of Mont-Saint-Guibert, Belgium, for the price of €6 million ($5.9 million) from Celyad Oncology. The deal is expected to close in Q2 of this year.

Frederic Cren, Inventiva CEO

In­ven­ti­va signs over Chi­na NASH rights to Sino Bio­pharm in pos­si­ble $300M+ deal

More than two years after claiming a Phase II win in one of the most challenging diseases faced in biotech, Inventiva is handing over rights in several Asian markets to a more on-site company.

Inventiva and Sino Biopharm jointly announced the deal Wednesday after market close, where Inventiva will hand over development and commercialization rights for NASH candidate lanifibranor to Sino Biopharm subsidiary Chia Tai-Tianqing Pharmaceutical Group (CTTQ). Rights include those in China, Hong Kong, Macau and Taiwan.

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Luke Miels, GSK chief commercial officer

Lend­ing a hand to a biotech in trou­ble, GSK drops $75M cash to add late-stage an­tibi­ot­ic to port­fo­lio

GSK likes to take pride in being one of the few Big Pharma players still active in antibiotics R&D. And that means keeping tabs on what the field has to offer.

In a move to beef up the late-stage pipeline, GSK is licensing a late-stage antibiotic candidate from Spero Therapeutics. In doing so, it’s coming to the rescue of a struggling biotech that’s crumbled in the wake of an FDA rejection and raised doubts about its ability to carry on.

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David Chang, Allogene CEO (Jeff Rumans)

Servi­er cuts off col­lab­o­ra­tion agree­ment with Al­lo­gene on CD19 prod­ucts, send­ing shares sput­ter­ing

Allogene Therapeutics said in an SEC filing today that French partner Servier has cut off its involvement in a partnership developing therapies directed against CD19, including the most advanced candidates in Allogene’s pipeline.

Shares of Allogene $ALLO, an outfit run by Kite vets Arie Belldegrun and research chief David Chang, fell by almost 10% on Wednesday, even as the San Francisco-based company said that Servier’s discontinuation “does not otherwise affect our current exclusive license for the development and commercialization of CD19 Products in the United States.”

Lina Khan, FTC chair (Graeme Sloan/Sipa USA/Sipa via AP Images)

FTC chair Lina Khan to Sen­ate: Big Phar­ma M&A is still a pri­or­i­ty tar­get

As the Federal Trade Commission has already sought new ideas for analyzing pharma mergers, FTC chair Lina Khan reiterated Tuesday to a Senate subcommittee that reviewing Big Pharma mergers is a priority.

While comparing this merger analysis in the pharma space to the study of public utilities in the 1930s “that exposed rampant financial fraud,” Khan said in prepared testimony that the commission is going to target unlawful conduct.

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Hugues Dolgos, Nerviano Medical Sciences CEO

Mer­ck KGaA teams up with Ital­ian on­col­o­gy group in PARP1 de­vel­op­ment deal

An Italian group has allied itself with Merck KGaA in an oncology licensing deal, seeking to get in on the market opportunity and expand its reach in a possibly blockbuster market.

Merck KGaA and Italian oncology company Nerviano Medical Sciences jointly announced Wednesday that they are collaborating on a licensing deal for NMS’s PARP1 inhibitor. Called NMS-293, the drug candidate is currently in clinical trials to treat patients as a monotherapy with a specific type of tumor: BRCA-mutated.

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Steven Kelly, Carisma CEO and president

Caris­ma's CAR-M steals spot­light among 42 bid­ders to re­verse merge with Sesen Bio

Sesen Bio’s decade-plus journey is over after failing to secure a bladder cancer drug approval and carve its own path for IL-6 antibodies. The Cambridge, MA company’s spot on Nasdaq will serve as the new home for Carisma Therapeutics, which is attempting to usher in a new CAR cell therapy in the world of macrophages and monocytes.

The two are executing an all-stock reverse merger, with the future resting solely on Carisma’s lineup of therapies, including a Phase I asset that had some limited data presented at ASCO in June. The Philadelphia startup will begin trading under the aptly symboled ticker $CARM in three to four months, the companies said Wednesday morning.

Mads Krogsgaard Thomsen, Novo Nordisk Foundation CEO

No­vo Nordisk Foun­da­tion is­sues $200M grant to ap­ply quan­tum com­put­ing to life sci­ences, drug dis­cov­ery

The Novo Nordisk Foundation, the large Danish charity that owns the pharmaceutical company of the same name, is making a quantum leap.

Making a deep investment into what it believes is the future of life sciences, the foundation is ponying up $200 million to try to develop the world’s first quantum computer designed to develop new drugs. Novo issued the money in the form of a grant to launch the “Novo Nordisk Foundation Quantum Computing Programme” in tandem with the University of Copenhagen.

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David Veitch, Basilea CEO

Swiss phar­ma Basilea sheds yet an­oth­er on­col­o­gy pro­gram as an­ti-in­fec­tives piv­ot plows for­ward

Acting on its plans to discard its oncology pipeline, Swiss company Basilea Pharmaceutica has decided to sell its cancer drug BAL0891 to Korean biotech SillaJen for $14 million upfront.

Basilea had announced its decision to ditch its oncology pipeline in February, as a part of a reorganization of its R&D pipeline around anti-infectives, including its two approved drugs in that space. Tuesday’s sale will also fetch Basilea additional milestone payments of up to $320 million and tiered royalties on net sales.