Deal Watch: Immuno-Oncology Double-Header At Bristol With Rigel, Flexus Deals
Executive Summary
Valeant jumps back into M&A, acquiring Salix after wholesale inventory issues discouraged other potential buyers. Merck more or less options a pipeline with its five-year R&D collaboration with NGM Pharma.
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Sanofi moves into ROR gamma T R&D for potential autoimmune therapies in collaboration with Lead Pharma, while Intrexon acquires Belgium’s ActoGeniX and its platform technology for creating a novel class of biotherapeutics targeting the oral and GI tracts. Teva heads off dispute with Eagle, bringing in new bendamustine formulation.
Lackluster Fostamatinib Results Prompt AstraZeneca To Drop Rigel Deal
Disappointing Phase III results have pushed AstraZeneca to end yet another partnership, leaving Rigel in a tough spot as the biotech considers how to move forward now that its largest partner has jumped ship.
Deals in Depth: March 2024
Two $1bn+ alliances were penned in March. In the top alliance by deal value, Merus NV will use its Triclonics anitbody platform to discover new dual tumor-associated antigens targeting trispecific antibodies for Gilead Sciences. Merus will lead early-stage research activities for two programs, with an option to pursue a third. Gilead will have the right to license programs developed under the collaboration after the completion of select research activities. If Gilead exercises its option to license any such program from the collaboration, Gilead will be responsible for additional research, development and commercialization activities for such program. The deal could be worth up to $1.5bn for Merus.