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Deals and Financings
Shanghai Multitude Therapeutics out-licensed global rights (ex-Greater China) for its Tissue Factor (TF) ADC to Denmark’s Adcendo in a $1 billion agreement (see story). The candidate, ADCE-T02, is a highly differentiated anti-TF ADC with a Topoisomerase I inhibitor-based linker/payload, according to Multitude.The $1 billion value of the agreement includes upfront and milestone payments, with potential royalties on sales also available. Multitude is starting a Phase I trial of the candidate in Australia, with additional trials planned for the US and EU.Hangzhou’s Huadong Pharmaceutical acquired rights for two immune disease therapies from IMBiologics of South Korea in a $383 million agreement plus royalties (see story). $8 million of the total are upfront payments.The two candidates are both antibodies: IMB-101 is a bispecific that targets both the autoimmune disease antibody OX40L and tumor necrosis factor (TNF); IMB-102 is a monospecific antibody IMB-102 that targets OX40L. Earlier this year, IMBiologics sold US rights to the pair in a $995 million deal with Navigator Medicines. Finland’s Bone Index, a company that develops bone health diagnostic devices, completed a funding round with Lynx Financial (HK) Limited (see story). Bone Index has developed a product that offers a quick, accurate measurement of bone health, in early screening and hospital settings.The company’s product has been approved for use in the US and EU. Lynx is an investment firm that provides a bridge to Asia for Life Sciences and Medical Technology companies. India’s Dr. Reddy’s Laboratories (RDY), together with its CRDMO Aurigene Pharmaceutical, signed a non-binding MOU with Kainomyx, a US company, to develop an affordable anti-malaria drug (see story).Kainomyx discovers small molecule therapeutics for neglected tropical diseases, with a focus on malaria. It targets cytoskeletal proteins of parasites to advance drug development and offers tests to identify asymptomatic carriers.According to the companies, the MOU combines Kainomyx’s novel drug discovery expertise, Aurigene’s experience with integrated drug discovery and development, and Dr. Reddy’s commercialization ability, especially in low and middle-income countries. EA Pharma sold global rights for a small molecule calcimimetic that may control intact parathyroid hormone levels in patients with secondary hyperparathyroidism receiving hemodialysis (see story). Upacicalcet is an intravenous therapy.EA Pharma, a subsidiary of Eisai Pharma of Japan (ESAIY), sold the rights to North Carolina’s Pathalys Pharma, a biopharma that develops best-in-class therapies for chronic kidney diseases. At the same time, Pathalys received an initial seed financing from DaVita Venture Group, and Catalys Pacific. Catalys Pacific is a Tokyo-San Francisco investor. Merck (MSD) has altered its mammoth ADC partnership with Sichuan’s Kelun-Biotech by adding one candidate and dropping another (see story). In 2022, Merck (MRK) made major news by entering three partnerships with Kelun worth a maximum of $12.7 billion.Now, Merck plans to acquire a global license to SKB571, a bispecific ADC aimed at solid tumor cancers, paying $37.5 million upfront. At the same time, it returned rights to SKB315, a CLDN18.2 ADC. The agreement between the two companies is well underway: Kelun received $90 million in milestone payments from Merck in the first half of 2024.
Trials and Approvals
GenFleet Therapeutics was approved for a China launch KRAS G12C inhibitor, as a second-line treatment for advanced non-small cell lung cancer (NSCLC) harboring a KRAS G12C mutation (see story). Patients must have previously had at least one systemic therapy.About 85% of all lung cancers are NSCLC, and KRAS is the most frequently mutated driver gene in NSCLC. The approval is a first in China for a KRAS G12C inhibitor. In 2021, GenFleet out-licensed greater China commercialization rights for fulzerasib to Suzhou’s Innovent (IVBXF) in a deal worth up to $315 million.More By This Author:Week In Review: Eisai Enters $1.5 Billion Molecular Glues Pact With SEED
Week In Review: Curon Out-Licenses T-Cell-Engager To Merck For $700 Million Upfront
Week In Review: ImmuneOnco Out-Licenses Two Antibodies In $2 Billion Deal
