- This Week in Biopharma Deals, by biodealroom
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- 18 deals this week: BD Teams are making their 2024 goals!
18 deals this week: BD Teams are making their 2024 goals!
Week 49 (2024)
Deal of the Week: PTC Therapeutics & Novartis – $2.9 Billion Huntington’s Disease Collaboration (PR Newswire)
PTC licenses PTC518 to Novartis in a landmark deal targeting Huntington’s disease
Structure: Exclusive global license and collaboration agreement
Date Announced: December 2, 2024
Total Deal Value: Up to $2.9 billion
Upfront Cash: $1.0 billion
Milestones: Up to $1.9 billion in development, regulatory, and sales milestones
Royalties: Tiered double-digit royalties on ex-U.S. net sales; U.S. profit-sharing (40% PTC / 60% Novartis)
Phase: Phase 2 (PIVOT-HD trial ongoing)
Notable Deals
Keros Therapeutics & Takeda – $1.3 Billion Elritercept License (GlobeNewswire)
Takeda secures global rights to advance Elritercept for hematologic disorders
Structure: Exclusive global license agreement
Date Announced: December 3, 2024
Total Deal Value: Up to $1.3 billion
Upfront Cash: $200 million
Milestones: Over $1.1 billion in development, approval, and commercial milestones
Royalties: Tiered royalties on net sales
Phase: Phase 2
Ipsen & Biomunex – $610 Million MAIT Cell Engager Deal (GlobeNewswire)
Ipsen licenses BMX-502, a first-in-class immuno-oncology bispecific antibody
Structure: Exclusive global licensing agreement
Date Announced: December 3, 2024
Total Deal Value: Up to $610 million
Milestones: Development, regulatory, and commercial milestones included
Royalties: Tiered global royalties on sales
Phase: Preclinical
Rgenta Therapeutics & GSK Join Forces for RNA Splicing (PRNewswire)
Small molecule modulators target RNA splicing
Structure: Strategic alliance and licensing agreement
Date Announced: December 3, 2024
Total Deal Value: Up to $870 million
Upfront Cash: $55 million
Total Milestones: $815 million
Therapeutic Modality: Small molecule splice modulators
Therapeutic Area: Undisclosed (potential for multiple diseases)
Phase: Discovery
Dewpoint Therapeutics & Mitsubishi Tanabe – $480 Million ALS Collaboration (GlobeNewswire)
Partnership to develop a novel TDP-43 condensate modulator for ALS
Structure: Research collaboration and option agreement
Date Announced: December 4, 2024
Total Deal Value: Up to $480 million
Upfront Payment: Undisclosed upfront payment included in total value
Royalties: Tiered royalties on net sales if licensed
Relay Therapeutics & Elevar Therapeutics – $500 Million FGFR2 Inhibitor License (GlobeNewswire)
Elevar acquires global rights to lirafugratinib for FGFR2-driven cancers
Structure: Exclusive global licensing agreement
Date Announced: December 3, 2024
Total Deal Value: Up to $500 million
Upfront Cash/Milestones: $75 million upfront and regulatory milestones; up to $425 million in commercial milestones
Royalties: Tiered royalties up to low teens percentage
Muna Therapeutics & GSK – €140M Per Target Alzheimer’s Alliance (PR Newswire)
GSK secures options for multiple Alzheimer’s drug targets using Muna’s MiND-MAP platform
Structure: Research collaboration with target-specific milestone options
Date Announced: December 5, 2024
Upfront Payment: €33.5 million upfront payment included in total milestone potential (€140M per target)
AI Proteins & Bristol Myers Squibb — Teaming Up for Miniproteins (BusinessWire)
AI-driven miniproteins target novel therapies
Structure: Research collaboration and option agreement
Date Announced: December 3, 2024
Total Deal Value: Up to $400 million
Upfront Cash: $50 million
Total Milestones: $350 million
Therapeutic Modality: Miniprotein-based therapeutics
Therapeutic Area: Undisclosed (potential for multiple areas)
Phase: Discovery
XOMA Royalty Corporation & Pulmokine – Seralutinib Acquisition for PAH (GlobeNewswire)
XOMA acquires Pulmokine for $20M to add Phase 3 royalty asset seralutinib
Structure: Acquisition of Pulmokine Inc. and its economic interest in seralutinib royalties/milestones
Date Announced: December 2, 2024
Total Deal Value: Potential for up to $25 million in milestone payments; low-to-mid single-digit royalties on sales
Phase: Phase 3
Merus & Partner Therapeutics – Zenocutuzumab U.S. License (GlobeNewswire)
Partner Therapeutics gains U.S. commercialization rights for NRG1+ cancer therapy Zenocutuzumab
Structure: Exclusive U.S. license agreement
Date Announced: December 2, 2024
Financial Terms: Undisclosed upfront payment; high single-digit to low double-digit royalties on net sales
Phase: BLA under FDA review
Rondo Therapeutics & Lilly – CD28 Bispecific Antibody Collaboration (Business Wire)
Lilly partners with Rondo to develop novel bispecific antibodies for solid tumors
Structure: Research collaboration and license agreement
Date Announced: December 4, 2024
Total Deal Value: Up to $450 million
Upfront Cash: $50 million upfront payment
Milestones: Up to $400 million in development and commercial milestones
Royalties: Tiered royalties on global net sales
Ono & Congruence Therapeutics – Oncology Drug Discovery Collaboration (PR Newswire)
Gilead & Tubulis – ADC Option and License Agreement (Business Wire)
Gilead partners with Tubulis to develop ADCs for solid tumors
Structure: Exclusive option and license agreement
Date Announced: December 3, 2024
Total Deal Value: Up to $700 million
Upfront Cash: $30 million
Milestones: Up to $670 million in development, regulatory, and commercial milestones
Royalties: Tiered royalties on net sales
Treovir & Matica Bio – Pediatric Brain Tumor Partnership (Business Wire)
Collaboration to advance innovative therapies for pediatric brain tumors
Structure: Strategic partnership agreement
Date Announced: December 4, 2024
Key Terms: Treovir will leverage Matica Bio’s manufacturing expertise to accelerate clinical development of its oncolytic virotherapy platform targeting pediatric brain tumors. Financial terms were not disclosed.
Ono & Congruence Therapeutics – Oncology Drug Discovery Collaboration (PR Newswire)
Ono partners with Congruence to generate novel small molecule correctors in oncology
Structure: Drug discovery collaboration and option agreement
Date Announced: December 5, 2024
Key Terms: Congruence will use its Revenir™ platform to identify small molecule correctors for multiple protein targets. Ono gains exclusive worldwide development and commercialization rights. Financial terms include upfront payments, research funding, milestone payments, and tiered royalties on net sales.