Indian generic drug maker Sun Pharma agreed to acquire US immunotherapy and targeted oncology company Checkpoint Therapeutics for an upfront value of $355 million. The transaction is expected to be completed in the second quarter of 2025 and is subject to customary closing conditions.
Ireland’s Jazz Pharmaceuticals signed an agreement to acquire its compatriot Chimerix for approximately $935 million. The transaction is expected to close in the second quarter of 2025.
Galapagos, a biotechnology company headquartered in Belgium, plans to split into two entities: a newly formed company (name to be announced at a later date) that will focus on building a pipeline of innovative drugs through transformative transactions, and Galapagos, which will continue to develop its cell therapy manufacturing platform in oncology.
In a move to expand its oncology business, GSK is nearing a $1 billion deal to buy a US biotech developing a treatment for rare gastrointestinal tumors.
US biopharmaceutical company Dren Bio, a developer of novel antibody therapeutics, has entered into a collaboration with Novartis Pharma, a subsidiary of Novartis. The collaboration will focus on the discovery and development of therapeutic bispecific antibodies for cancer using Dren Bio’s proprietary targeted myeloid engager and phagocytosis platform.
US Merck & Co., known as MSD outside of North America, intends to buy cancer drug developer Harpoon Therapeutics for $23.00 per share in cash for an approximate equity value of $680 million.
AstraZeneca has agreed to acquire Gracell Biotechnologies, a Chinese developer of cell therapies for the treatment of cancer and autoimmune diseases, for up to $1.2 billion. Only on Dec. 12, 2023, AstraZeneca announced that it was planning to acquire Icosavax for $1.2 billion.
US biopharma AbbVie has agreed to acquire ImmunoGen in a deal which values the company at about $10.1 billion and gives AbbVie access to flagship cancer therapy Elahere (mirvetuximab soravtansine-gynx), a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC), as well as a pipeline of promising next-generation ADCs.
To boost supply of the injectable chemotherapy drug cisplatin – the US is facing a shortage of oncology treatments – the Food and Drug Administration (FDA) will temporarily allow imports of 50-milligram vials from Chinese manufacturer Qilu Pha. Canada’s Apotex would distribute.
Pfizer has agreed to acquire Seagen, a global biotech focused on developing cancer treatments, for $43 billion. The announcement comes just a couple of weeks after the Wall Street Journal reported that the two companies were in talks.
Pfizer has announced plans to invest more than €1.2 billion at its site in Grange Castle, Dublin, Ireland, to double capacity for biological drug substances.
South Korea’s LG Chem is to acquire US biopharma Aveo Oncology for an equity value of $566 million. Based in Boston, Massachusetts, Aveo is focused on developing cancer treatments.
French biopharma Ipsen and US-based Marengo Therapeutics have formed a strategic partnership that aims to advance two of Marengo’s preclinical immuno-oncology candidates.
The pharma industry’s poaching season is on, though some say it’s never off, just taking a break. In the latest drugmaker-to-drugmaker side-swap, among the top news this week was that Bayer has hired away GlaxoSmithKline’s head of oncology therapy, Christine Roth, just as the UK pharma was seen to be reestablishing its position in cancer therapeutics.
Loxo Oncology at Lilly and Foghorn Therapeutics are collaborating to create novel oncology medicines based on the latter’s Gene Traffic Control platform. Under the terms of the deal, Lilly will pay Foghorn $300 million in cash upfront as well as making an equity investment of $80 million.
French drugmaker Sanofi is taking an equity stake worth $180 million in and entering a new strategic collaboration with artificial intelligence (AI) and precision medicine specialist Owkin.
