Citing a need to conserve capital, the Syncona investment group, has divested its portfolio company Clade Therapeutics Inc to Century Therapeutics Inc of the US. Syncona is to sell Clade for up to $45 million. This includes an upfront consideration of $35 million in a combination of cash and shares in Century, along with potential milestone payments of $10 million.
Vertex Pharmaceuticals Inc is to expand its portfolio of drugs for genetic diseases with the acquisition of Alpine Immune Sciences Inc, giving the Boston, US-based company a clinical-stage product for IgA nephropathy. The acquisition, announced on 10 April, has been priced at $65 per share for a total deal value of $4.9 billion. The transaction is expected to close before the end of June.
The cardiovascular medicines field, which recently saw Novo Nordisk A/S acquire Cardior Pharmaceuticals of Germany, has also witnessed a new deal in medical technology. On 5 April, Johnson & Johnson Inc announced an agreement to acquire Shockwave Medical Inc, a US company with a catheter-based technology for treating the build-up of calcium deposits in the body. J&J is to pay $335 per share in cash for Shockwave, giving an enterprise value of $13.1 billion.
An international syndicate, led by Medicxi Ventures of the UK, has invested in a Chinese biotech company which is building a portfolio of small molecule drugs and biologics to treat cancer. The recipient, D3 Bio of Shanghai, has three compounds in clinical development, and aspires to build a portfolio around multiple oncology programmes and indications. The newest round, announced on 8 April, raised $62 million of which Medicxi contributed $40 million. This brings total funding for the company up to $250 million.
Obsidian Therapeutics Inc of Cambridge, US, has raised $160.5 million in an oversubscribed Series C financing round to advance a tumour-infiltrating lymphocyte (TIL) therapy in the clinic. TILs are treatments where tumour-infiltrating lymphocytes are removed from a patient’s tumour, grown in large numbers in a laboratory, and returned to the patient to help the immune system fight cancer. TILS are polyclonal cells with diverse receptors. Their advantage is said to be their ability to detect a wide range of tumour-associated antigens.
Switzerland-based Addex Therapeutics Ltd is to reduce its operating costs by spinning out a group of preclinical assets into a new venture capital-based company thereby enabling it to accelerate development of its lead product for epilepsy. The reorganisation, announced on 3 April, will stratify Addex’s pipeline giving the company more financial support and time to develop its pipeline of small molecule drugs for neurological diseases.
Genmab A/S, one of Europe’s older biotech companies, is to acquire ProfoundBio Inc of the US for $1.8 billion giving it a pipeline of antibody-drug conjugates (ADC) and an opportunity to expand into treatments for gynecologic cancers and other solid tumours. The deal, which is expected to close during the first half, also represents a significant shift in the Danish company’s business model.
Novo Nordisk A/S is to acquire Cardior Pharmaceuticals GmbH of Germany for up to €1.025 billion in a deal that will significantly expand its presence in the field of cardiovascular medicine. Although Novo’s primary focus is diabetes, it has been rapidly expanding into related areas, most notably treatments for obesity. Obesity has been identified as a risk factor for cardiovascular disease.
Venture capital-financed Amolyt Pharma SAS has agreed to be acquired by AstraZeneca Plc in a deal that capitalises on the French company’s portfolio of treatments for rare endocrine diseases. The deal value is up to $1.05 billion, which consists of $800 million upfront and a payment of $250 million contingent on the achievement of a regulatory milestone. The acquisition will bolster AstraZeneca’s rare disease portfolio which is managed by its Alexion business unit. AstraZeneca acquired Alexion in 2021.
AstraZeneca Plc is to spend up to $2.4 billion to acquire Fusion Pharmaceuticals Inc of Canada, a biopharmaceutical company developing alpha-particle radiotherapeutics for treating cancer. The company’s pipeline consists of radioconjugates where a radioactive chemical is linked to a cell-targeting molecule, injected into the body, and directed against cancer cells. Under the terms of the agreement, AstraZeneca, through a subsidiary, will acquire all of Fusion’s outstanding shares for $21 per share in cash and a contingent value right of $3 per share.