The CAR-Ts and the Bees

Week 48 Deals (2024)

November 29, 2024

Deal of the Week: Roche & Poseida Therapeutics – $1.5B Allogeneic CAR-T Play [GlobeNewswire] 

Strategic expansion into donor-derived off-the-shelf cell therapies across oncology, immunology, and neurology

  • Structure: Acquisition 

  • Date Announced: November 26, 2024 

  • Total Deal Value: Up to $1.5 billion ($1.0B upfront + $0.5B in milestones) 

  • Upfront Cash: $9.00 per share ($1.0B equity value) 

  • Total Milestones: $4.00 per share contingent on clinical and commercial milestones, including pivotal trials and first commercial sale 

  • Phase: Clinical-stage (Phase 1/2 for lead assets) 

Notable Deals

Sarepta Therapeutics & Arrowhead Pharmaceuticals: siRNA Collaboration [BusinessWire]

Global licensing for multiple clinical and preclinical RNAi programs targeting rare diseases

  • Structure: Licensing and collaboration 

  • Date Announced: November 26, 2024 

  • Total Deal Value: Up to $1.25 billion ($300M upfront + $950M in milestones) 

  • Upfront Cash: $300 million 

  • Total Milestones: Up to $950 million tied to development, regulatory, and sales achievements 

  • Royalties: Tiered royalties on net sales (undisclosed rates) 

  • Phase: Clinical and preclinical 

Acadia Pharmaceuticals & Saniona: Exclusive License for SAN711 [BusinessWire]

Focus on rare neuropathic pain disorder treatments

  •  Structure: Licensing agreement 

  • Date Announced: November 26, 2024 

  • Key Terms: 

    • Saniona retains rights outside the U.S. and Canada 

    • Acadia is responsible for development and commercialization in licensed territories 

    • Financial terms undisclosed 

Eton Pharmaceuticals & AMMTeK: U.S. Rights to Amglidia [GlobeNewswire]

First potential FDA-approved oral treatment for neonatal diabetes mellitus*** 

  • Structure: Licensing agreement 

  • Date Announced: November 25, 2024 

  • Key Terms: 

    • Orphan Drug Designation granted by FDA; NDA submission planned for 2026 using European real-world data 

    • Targets a rare pediatric condition (~300 U.S. patients) 

PTC Therapeutics: Sale of Priority Review Voucher [PR Newswire]

Monetization of regulatory asset for $150 million

  • Structure: Asset sale (Priority Review Voucher) 

  • Date Announced: November 27, 2024 

  • Total Deal Value: $150 million (all upfront) 

Formosa Pharmaceuticals & Medvisis Switzerland: Licensing for Clobetasol Propionate Ophthalmic Suspension [PR Newswire]

Treatment of post-operative inflammation and pain in ophthalmology

  • Structure: Licensing agreement 

  • Date Announced: November 28, 2024 

  • Key Terms: 

    • Medvisis gains exclusive rights in Europe, Middle East, Africa, and Latin America

    • Formosa retains rights for other regions including the U.S. and Asia-Pacific  

    • Financial terms undisclosed