UK Life Sciences and Healthcare Newsletter: Market News

Dechert LLP

[co-author: Linden Thomson]

Recent notable industry transactions.

  • Royal Philips announced that it has agreed to acquire Capsule Technologies, Inc., a provider of medical device integration and data technologies for hospitals and healthcare organisations, for US$635 million.
  • Sanofi and Biond Biologics entered into an exclusive global licence agreement for Biond Biologics' ILT2-targeting immune checkpoint inhibitor BND-22, which is under development for the treatment of solid tumours. Biond will receive US$125 million in an upfront cash payment and is eligible to receive more than US$1 billion in potential milestone payments.
  • Sanofi has agreed to acquire Kymab for an upfront payment of approximately US$1.1 billion and up to US$350 million upon achievement of certain milestones. The transaction will result in Sanofi having full global rights to KY1005, a fully human monoclonal antibody that has a novel mechanism of action.
  • PerkinElmer announced that it has agreed to acquire Oxford Immunotec at a deal value of approximately US$591 million, subject to customary closing conditions.
  • Ribometrix announced a strategic collaboration with Genentech, a member of the Roche Group, to discover and develop novel RNA-targeted small molecule therapeutics against several targets, with Ribometrix receiving a US$25 million upfront payment and potential milestone payments exceeding $1 billion.
  • Centene Corporation and Magellan Health entered into a merger agreement for a value of US$2.2 billion and will establish a leading behavioural health platform.
  • AstraZeneca has agreed to sell the commercial rights to Atacand and Atacand Plus in around 70 countries to Cheplapharm for US$400m.
  • Angelini Pharma and Arvelle Therapeutics, a Swiss-based biopharmaceutical, concluded a merger agreement under which Angelini will acquire Arvelle for a total value of up to US$960 million.
  • Myovant Sciences entered a collaboration with Pfizer to develop and commercialise relugolix, a once-daily, oral gonadotropin-releasing hormone (GnRH) receptor antagonist. Myovant will be eligible to receive up to US$4.2 billion.
  • Lilly had agreed to acquire Prevail Therapeutics for a total value of approximately US$1.04 billion.
  • Boehringer Ingelheim has agreed to acquire NBE-Therapeutics, a clinical-stage Swiss biotech company working on antibody-drug conjugates (ADC) and cancer therapies for a transaction value of US$1.44 billion.
  • Takeda Pharmaceuticals sold its primary care businesses in the Asia Pacific region to Celltrion for US$278.3 million and separately has agreed to divest a portfolio of non-core prescription pharmaceutical products sold in China to Hasten Biopharmaceu for US$322 million. Takeda also completed its sale of select prescription products to Cheplapharm for a total value of US$562 million.
  • AstraZeneca has sold rights to Crestor (rosuvastatin, for the treatment of dyslipidaemia and hypercholesterolaemia) and associated medicines in certain European markets to Grünenthal for at least US$320m.
  • Biogen and Sage Therapeutics have executed a collaboration and licence agreement to develop and commercialise zuranolone (SAGE-217) for major depressive disorder, postpartum depression and other psychiatric disorders, and SAGE-324 for essential tremor and other neurological disorders. Sage will receive US$1.525 billion in cash, comprising an upfront payment and an equity investment in Sage, in addition to potential milestone payments.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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