Deals channel feed

Richard Gonzalez, AbbVie CEO (Pablo Martinez Monsivais via AP)

Treg space con­tin­ues to heat up as Ab­b­Vie puts up al­most $50M up­front to part­ner with lit­tle-known biotech

AbbVie is joining its fellow Big Pharma competitors and jumping into the Treg space.

In a collaboration deal announced early Monday morning, the Chicago-based pharma company said it would be teaming up with private biotech Cugene to advance a single Treg program targeting IL-2. AbbVie is shelling out $48.5 million upfront to collaborate and will pay an undisclosed sum of milestones and royalties.

AbbVie also gets the option to obtain an exclusive license for certain IL-2-targeting Treg programs, including the one involved in Monday’s deal, dubbed CUG252. The candidate, Cugene’s lead, is officially described as a “Treg-selective IL-2 mutein” designed to treat autoimmune and inflammatory diseases.

Travis Mickle, KemPharm CEO (via KemPharm)

Or­p­hazyme agrees to sell it­self, and its 'pipeline-in-a-prod­uct,' to Kem­Pharm

Two months ago, Orphazyme enlisted the help of the Danish courts to help oversee a restructuring in the wake of trial failures, C-suite shakeups and regulatory rejections. The move was expected to help the company find a way to either sell itself or its assets, attempting to keep the research going on what it once called its “pipeline-in-a-product.”

On Sunday, the resolution of the court-run efforts came into view.

Neil Kumar, BridgeBio CEO

Work­ing to right the ship, Bridge­Bio's Neil Ku­mar adds a $110M deal right on top of his cash haul from Bris­tol My­ers

Within hours of issuing word that BridgeBio $BBIO had pulled in $90 million from its SHP2 licensing deal with Bristol Myers Squibb, CEO Neil Kumar had finalized another deal to sell their priority review voucher for $110 million.

Not unusual in PRV sales, the biotech is keeping the purchaser’s name under wraps, but Kumar — who’s been restructuring the company, partnering programs, laying off staffers and looking to do deals to keep the ship righted during a stormy biotech tempest on Wall Street — was more than happy to discuss the latest windfall to come his way “at a really attractive price.”

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Neil Kumar, BridgeBio CEO

A week af­ter dis­clos­ing lay­offs, Bridge­Bio nets a $90M up­front can­cer R&D pact with Bris­tol My­ers

BridgeBio has located the bridge to greener pastures, specifically the lavish purple of Bristol Myers Squibb.

The two are collaborating in a deal giving the reorganized biotech an upfront payment of $90 million, a capital infusion that comes a week after the Palo Alto, CA biotech disclosed $23 to $25 million in restructuring-related costs. That move also included the out-licensing of six programs, a round of layoffs, consolidation of facilities and other activities in a major re-route.

Nadim Ahmed, Cullinan Oncology CEO

Cul­li­nan On­col­o­gy goes full cir­cle, scor­ing $275M for shar­ing the load on EGFR in­hibitor with orig­i­nal de­vel­op­er

Only a few months after CEO Nadim Ahmed came over from Bristol Myers Squibb and joined as the top brass at the cancer-focused biotech Cullinan Oncology, the second half of a major deal has finally clicked into place — giving Cullinan a well-timed $275 million.

The Massachusetts biotech announced early Thursday morning that it has completed Part II of a deal with Japanese biotech Taiho Pharmaceutical that originally started back in 2019 — culminating in a co-commercialization and co-development partnership for CLN-081, a tyrosine kinase inhibitor candidate being investigated for NSCLC with a specific type of mutation already pursued by at least two pharma giants: EGFR exon 20.

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Rupert Vessey, Bristol Myers Squibb's President of Research and Early Development

Pro­tein degra­da­tion field turns red hot as Bris­tol My­ers signs up for an­oth­er multi­bil­lion-dol­lar pact

A new season of protein degradation deals is upon us.

Just days after Rupert Vessey anted up on a $1.55 billion deal to advance new discovery work on protein therapeutic degraders with the Scottish biotech Amphista, he’s jumped back with a $5 billion pact on another protein degradation effort with the developers at Evotec in Europe as the field continues to heat up with multiple alliances.

This time Vessey and his crew are coming with a hefty $200 million upfront to expand on a deal that dates back to 2018, looking to build a pipeline of molecular glue degraders — one of the primary approaches in the field.

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Dirk Thye, incoming CEO of Quince Therapeutics

Cap­ping a tur­bu­lent saga around Alzheimer's drug, Cor­texyme strikes a deal, brings in new man­age­ment and changes name in search of new life

A failed attempt to bring forward an unorthodox approach to treating Alzheimer’s disease has culminated in the complete remake of Cortexyme.

The troubled public biotech $CRTX says it’s struck a deal to acquire a private startup called Novosteo, which is focused on rare skeletal diseases, bone cancer and injury. Novosteo CEO Dirk Thye and CMO Karen Smith will be running things from here on out in those exact same roles, while Cortexyme changes its name to Quince Therapeutics over the coming months.

Rallybio founders (L-R): Jeff Fryer, Martin Mackay and Steve Uden

As Sanofi prunes pipeline, ex-Alex­ion crew at Rally­bio picks up ane­mia drug

More than a year after it bought Kymab for $1.5 billion, Sanofi is getting rid of a preclinical program that came with the deal.

Sanofi has out-licensed its KY1066 antibody to New Haven, CT-based Rallybio who has redubbed it RLYB331. The deal saw Rallybio make an upfront cash payment of $3 million to Sanofi in addition to promising development and commercial milestones and mid to high single-digit royalties on net sales.

Vlad Coric, Biohaven CEO (Jordan Sirek/Bloomberg via Getty Images)

UP­DAT­ED: Pfiz­er buys Bio­haven for $11.6B, go­ing all in on CGRP mi­graine drug port­fo­lio

Pfizer has found a use for a chunk of its Covid windfall, agreeing to buy Biohaven and its migraine drug Nurtec for $11.6 billion.

The move to acquire the biotech at $148.50 a share — a 33% premium over a 3-month average of the share price — hands Pfizer boasting rights to the lead migraine drug in the US. And it follows on Pfizer’s $500 million deal to bag ex-US rights to the drug, when the pharma giant acquired a small, 2.6% stake in the biotech at $173 a share.

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Marcus Schindler (L) and Paul Biondi (Novo Nordisk, Flagship Pioneering)

Ex­clu­sive: No­vo Nordisk al­lies it­self with one of the buzzi­est groups in biotech, launch­ing a mul­ti-pronged at­tack at dis­cov­er­ing new drugs

Novo Nordisk established its R&D rep around its in-house expertise that ultimately birthed the GLP-1 blockbuster semaglutide and pushed it to major-market franchise status. But its top execs have been crystal clear that the path to the future of R&D — moving past semaglutide on to the next big thing — points to more external alliances, marrying its global research arms in and out of Copenhagen with outside groups sparking headlines around their discovery work.

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