- This Week in Biopharma Deals, by biodealroom
- Posts
- The leaves are falling, but these deals keep piling up—who says biotech hibernates for winter?
The leaves are falling, but these deals keep piling up—who says biotech hibernates for winter?
Week 44 Deals (2024)
Deal of the Week: Monte Rosa Therapeutics & Novartis
Licensing agreement potentially worth over $2B for T- and B-cell modulating molecular glue degraders (GlobeNewswire)
Structure: Global license agreement for VAV1-directed molecular glue degraders (MRT-6160)
Date Announced: October 28, 2024
Total Deal Value: Up to $2.25B (including $2.1B in milestones plus $150M upfront)
Upfront Cash: $150M
Total Milestones: Up to $2.1B
Royalties: Tiered royalties on ex-U.S. net sales
Other Terms: Monte Rosa will co-fund Phase 3 and share profit/loss in the US
Notable Deals
Biogen & Neomorph
Multi-target research collaboration to discover molecular glue degraders for Alzheimer’s, rare, and immunological diseases (GlobeNewswire)
Structure: Research collaboration to identify and develop molecular glue degraders
Date Announced: October 29, 2024
Total Deal Value: Up to $1.45B (including milestone payments)
Upfront Cash: Not disclosed
Royalties: Mid-single-digit to low double-digit royalties
Other terms: Biogen will reimburse Neomorph for certain research development costs
AbbVie & EvolveImmune Therapeutics
Option-to-license agreement to develop next-generation T-cell engager biologics in oncology (GlobeNewswire)
Structure: Collaboration and option-to-license for multispecific biologics
Date Announced: October 31, 2024
Total Deal Value: Up to $1.465B ($65M upfront plus $1.4B in milestones)
Upfront Cash: $65M
Equity: investment of undisclosed value
Royalties: Tiered royalties on net sales
ViaNautis Bio & Lilly
Collaboration to leverage the polyNaut® platform for targeted genetic nanomedicines (GlobeNewswire)
Structure: Multi-year collaboration for non-immunogenic nanovesicles
Date Announced: October 28, 2024
Financial Terms: Upfront payment plus undisclosed research-based milestones, further potential clinical/commercial milestones, and royalties
Absci & Twist Bioscience
Generative AI meets synthetic DNA for faster therapeutic antibody design (GlobeNewswire)
Structure: Collaboration to design a novel therapeutic antibody candidate
Date Announced: October 31, 2024
Financial Terms: Not disclosed; plan to seek a partner for clinical development and commercialization
Key Terms: Combines Absci’s AI de novo design with Twist’s silicon-based DNA synthesis to accelerate R&D
Odyssey Therapeutics & Terray Therapeutics
Strategic collaboration to discover and develop transcription factor therapies (BussinessWire)
Structure: Joint discovery and development program
Date Announced: October 28, 2024
Financial Terms: Not disclosed
That’s a wrap for Week 43. With both massive upfront payments and promising platform collaborations, the fall season is looking anything but sleepy. Stay tuned for next week’s roundup!