AI Takes Center Stage!

Week 39 Deals (2024)

September 27, 2024

Multi-target collaboration leveraging Generate's proprietary generative AI platform to discover and develop protein therapeutics

Structure: Multi-target collaboration agreement
Date Announced: September 24, 2024
Total Deal Value: More than $1 billion
Upfront Cash: $50 million
Equity Investment: $15 million
Total Milestones: More than $1 billion in performance-based milestone payments
Royalties: Tiered royalties up to low double-digits
Other Terms:
- Number of targets and therapeutic areas not disclosed
- Combines Generate's AI platform with Novartis' expertise in target biology and clinical development
- Focus on creating first- and best-in-class molecules through AI-based optimization and de novo generation

Context obtains exclusive worldwide rights to BA3362, a Nectin-4 x CD3 T cell engaging antibody

Structure: Exclusive worldwide license agreement
Date Announced: September 23, 2024
Total Deal Value: Up to $133.5 million
Upfront & Near-term: $15 million
Total Milestones: Up to $118.5 million in clinical, development and commercial milestones
Royalties: Tiered royalties on net sales
Other Terms: Context to assume and fund all development and commercialization activities
- IND filing anticipated mid-2026

Strategic collaboration for EMB-06, a BCMA×CD3 bispecific antibody for autoimmune diseases

Structure: License agreement for rights outside Greater China
Date Announced: September 3, 2024
Total Deal Value: Up to $635 million
Upfront: $60 million (cash and equity)
Total Milestones: Up to $575 million (development, regulatory and commercial)
Royalties: Royalties on net sales
Territory: All regions outside Greater China

Expanded collaboration leveraging AI and multimodal datasets for oncology R&D

Structure: Research collaboration expansion
Date Announced: September 26, 2024
Key Terms:
- Access to Tempus' Lens analytics platform
- Multi-phase biological modeling project using patient-derived tumor organoids
- Focus on ADCs, small molecules, bispecifics and gamma delta T-cell therapies

Acquisition of transglutaminase patent portfolio for ADC development

Structure: Patent portfolio acquisition
Date Announced: September 24, 2024
Asset: Portfolio of patents related to ADC transglutaminase conjugation technology
Financial Terms: Not disclosed