Bristol Gets Five Primed For Immuno-Oncology Expansion
This article was originally published in The Pink Sheet Daily
Bristol strengthens its leading role in the immuno-oncology space through a discovery and development collaboration with newly public biotech Five Prime, a deal that could be worth more than $350 million with earn-outs. The pharma also takes an equity stake in its new oncology partner.
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Bristol agreed to pay $350m upfront for global rights to Five Prime’s CSF1R antibody program, including FPA008, in a deal that builds on the companies’ previous clinical collaboration agreement.
Biopharma financing totaled $9.8 billion, a 53% increase over Q4 2013. Twenty-two M&As were completed with a combined potential value reaching $31.3 billion, and there were 103 biopharma alliances totaling $1.9 billion in potential pre-commercialization value, down 30% from the previous quarter.
The hot field of immuno-oncology once again dominated the deal landscape with tie-ups between Bristol and Five Prime, Tesaro and AntaptysBio, and Medimmune and MD Anderson. Kythera and Bayer parted ways while Sanofi Pasteur teamed up with SK Chemicals.