December 5, 2019 - Outsourcing Pharma
Agilent Technologies talks up prospect of striking takeovers that exceed old $1bn ceiling on acquisitions.
December 3, 2019 - Fierce Biotech
Rapt Therapeutics is gaining a development partner and a foothold in Asia through a partnership potentially worth $118 million. The biotech is handing Hanmi Pharmaceutical the rights to its lead cancer program in South Korea and greater China in exchange for $10 million upfront and the promise of millions more in milestones.
It’s a win for both companies: Rapt gains entry to markets in the Asia-Pacific region, and Hanmi picks up a program that could become a “keystone” in its immuno-oncology portfolio. In addition to the $10 million upfront fee and a near-term research payment, Rapt stands to net another $48 million in development milestones and $60 million in sales milestones, as well as royalties.
December 2, 2019 - Fierce Biotech
Sanofi has moved to offload its Seprafilm surgical barrier business, setting up a large infusion of cash for early next year as its new CEO prepares to unveil his new strategic priorities for the company. The French drugmaker aims to trade the unit to Baxter International in return for $350 million.
December 2, 2019 - BioPharma Dive
For the second time this year, Neurocrine Biosciences has expanded its pipeline via a licensing deal, announcing Monday it will buy the rights to a clinical-stage drug the companies hope could become the first approved treatment for a rare type of pediatric epilepsy.
Neurocrine will pay $30 million in cash and up to $1.7 billion in potential milestone payments to Xenon Pharmaceuticals, a small biotech located just outside of Vancouver. In return, Neurocrine gains an exclusive license to the company's experimental therapy XEN901 as well as a number of preclinical assets.
Xenon develops medicines for rare neurological disorders. Its deal with Neurocrine focuses on compounds that inhibit a sodium channel called Nav1.6. Neurocrine plans to begin testing XEN901 in children with the rare epilepsy condition after filing an Investigational New Drug application in mid-2020.