According to incomplete statistics from Meibao BidiIn September 2024, the total number of BD and M&A transactions in China's pharmaceutical industry was...14Pen, involving cross-border asset purchases1Pen, Overseas Transactions6Pen, Domestic Transactions7Pen.
Cross-Border Asset Purchase
1. Ribo Life Science and PHEIRON Reach Strategic Cooperation on AI-Assisted RNA Drug Development
September 2, 2024Suzhou Ribo Life Science Co., Ltd. (Ribo Life Science) and its subsidiary Ribocure Pharmaceuticals AB (Ribocure) announced a strategic partnership with PHEIRON to accelerate the R&D of Ribo Life Science’s RNA drugs by leveraging PHEIRON's advanced AI platform, PheironGPS. This collaboration aims to enhance Ribo Life Science’s development capabilities in the cardiovascular and metabolic disease fields by integrating large-scale human multi-omics genetic data generated through PHEIRON's cutting-edge artificial intelligence technology.
1. EpimAb Biotherapeutics and Vignette Bio Announce Strategic Collaboration to Develop BCMA × CD3 Bispecific Antibody EMB-06
On September 5, 2024, EpimAb Biotherapeutics and Vignette Bio (a clinical-stage company incubated by Foresite Labs and co-invested by Foresite Capital, Qiming Venture Partners USA, Samsara Biocapital, and Mirae Capital Life Science) announced that the two parties had entered into a licensing agreement for EpimAb’s T-cell engaging (TCE) molecule EMB-06 targeting BCMA/CD3. Under the terms of the agreement, EpimAb Biotherapeutics will grant Vignette Bio exclusive rights to develop and commercialize EMB-06 outside of Greater China (including mainland China, Hong Kong, Macau, and Taiwan), while EpimAb Biotherapeutics will retain the rights to EMB-06 within Greater China. EpimAb Biotherapeutics will receive an upfront payment totaling $60 million in cash and equity in Vignette Bio, and is entitled to receive up to $575 million in development, regulatory, and commercial milestone payments, as well as tiered royalties based on net sales.。2. BAO PHARMA and Organon Reach Agreement on Innovative Drug in Development for Assisted Reproductive Field
On September 12, 2024, BAO PHARMA and its wholly-owned subsidiary Shengji Pharmaceuticals announced that they have reached a supply and transfer agreement with Organon China for the innovative drug SJ02 under development in the field of assisted reproductive technology. According to the terms of the agreement, Organon China will obtain exclusive commercialization rights for SJ02 in mainland China. BAO PHARMA and Shengji Pharmaceuticals will receive an upfront payment of US$12 million and additional payments based on the commercialization process.3. Harbour BioMed (Suzhou) Co., Ltd. Signs Collaboration Agreement with Alkyon Therapeutics
September 24, 2024Harbour BioMed (Suzhou) Co., Ltd. Announces Collaboration Agreement with Alkyon Therapeutics, U.S., to Advance Next-Generation Immuno-Oncology and Other Targeted Therapies Using Its Fully Human Antibody Technology Platform, Harbour Mice®.4. Belief BioMed Partners with AskBio, a Subsidiary of Bayer, to Explore the Potential of Innovative Gene Therapies
2024On September 25, Belief BioMed announced a strategic collaboration with AskBio, a wholly-owned and independently operated gene therapy subsidiary of Bayer Group, to jointly explore the potential of innovative gene therapies.According to the contract terms, both parties will combine their professional expertise and strengths in gene therapy technology to conduct in-depth research and exploration into disease areas that can be addressed by innovative gene therapy solutions through liver-targeting treatment approaches.
5. Tianjing Biologics and Sanofi Reach Collaboration on Globally Innovative CD73-Targeted Cancer Therapy in Greater China
2024On September 25, I-Mab announced a strategic collaboration with Sanofi for the development, manufacturing, and commercialization of uliledlimab, I-Mab’s globally innovative self-developed CD73 antibody, in Greater China.The collaboration agreement includes an upfront payment and near-term milestone payments totaling approximately 32 million euros (approximately 250 million RMB), as well as subsequent milestone payments with a potential total amount not exceeding approximately 213 million euros (approximately 1.7 billion RMB). I-Mab will also receive tiered royalties based on sales, as well as additional milestone payments for new indications.6. Regor Pharma USA and Genentech Reach Acquisition Agreement on Next-Generation CDK Inhibitors2024YearOn September 30, Regor announced that it had reached a definitive purchase agreement with Genentech, under which Genentech will acquire Regor’s next-generation CDK inhibitor portfolio for the treatment of breast cancer. According to the terms of the agreement, Regor will receive an upfront payment of $850 million and is eligible to receive additional cash payments based on the achievement of certain predetermined milestones in the future. Genentech will be responsible for global clinical development, manufacturing, and commercialization. Regor will continue to manage the two ongoing Phase I clinical trials until their completion.Transactions Within China1. $20 Million Upfront Payment: Simcere Zaiming Introduces Tageri's Third-Generation ALK Inhibitor
September 2, 2024Simcere Pharmaceutical Group's subsidiary, Simcere Zaiming, announced that it has recently entered into a cooperation agreement with Shenzhen TagRx Biopharmaceuticals regarding the clinical-stage anti-tumor candidate drug TGRX-326, an ALK/ROS1 dual receptor tyrosine kinase inhibitor. According to the terms of the agreement, Simcere Zaiming will obtain the exclusive commercialization rights for TGRX-326 in mainland China (including but not limited to the rights to promote TGRX-326, formulate and adjust relevant strategies, and receive related benefits). TagRx will receive an upfront payment of over 20 million US dollars and will pay Simcere Zaiming a promotion service fee.
2. Yimeng Angke Transfers 7% Equity of Subsidiary for RMB 140,000Jiaxing Changxin
On September 13, 2024, in recognition of the contributions and efforts made by Dr. Tian Wenzhi and Dr. Zheng Qian to the establishment and operation of the target company, Immunotech and Jiaxing Changxin entered into a share transfer agreement. Under the agreement, Jiaxing Changxin agreed to acquire, and the company agreed to transfer, 7% of the equity in Immunocare for a consideration of RMB 140,000.Upon completion of the acquisition, Yiminkair will become a non-wholly owned subsidiary of Yimingangke, with Yimingangke and Jiaxing Changxin owning 93% and 7% of the equity, respectively.
3. Betta Pharmaceuticals Secures Distribution Rights for Hoyo Biotech's Plant-Derived Recombinant Human Serum Albumin Injection
On September 19, 2024, Betta Pharmaceuticals and Wuhan Heryuan Biotechnology entered into a regional distribution agreement for pharmaceuticals. The two parties agreed on the commercial cooperation matters regarding the plant-derived recombinant human serum albumin injection (trade name: Aofumin, OsrHSA, HY1001, hereinafter referred to as "plant-derived recombinant human serum albumin injection"), with the total transaction value calculated based on the actual amount incurred under the orders of this agreement.
4. Huadong Medicine and HuiSheng Biologics Announce Exclusive Strategic Cooperation on the Commercialization Rights of the First-Class New Drug HuiYouJing in Mainland China
2On September 20, 2024, Huadong Medicine announced an exclusive strategic cooperation with Huisheng Bio, a non-wholly owned subsidiary of Sihe Pharma, for the commercial rights of its marketed innovative product Huiyoujing (Prolinalogliptin Tablets) in mainland China. Huiyoujing is an SGLT-2 inhibitor approved for marketing by Huisheng Bio in China for the treatment of type 2 diabetes.
5. Tengji Pharmaceuticals Partners with Amoytop Biotech for a 145 Million Yuan Project Collaboration to Jointly Advance Innovative Drug Development
On September 20, 2024, Tengji Pharmaceuticals and Xiamen Amoytop Biotech reached a project collaboration with a cumulative transaction value of up to RMB 145 million (including upfront payment, milestone payments, and royalties).The two parties have reached a cooperation agreement regarding the research, registration, and commercialization of the company's original innovative drug "NM6606 project" within the territory of China (including mainland China, Hong Kong, Macao, and Taiwan) for the treatment of liver fat metabolism and liver fibrosis-related diseases. Tengji Pharmaceuticals retains all rights to the "NM6606 project" outside the licensed scope.。
6. Over 1.5 Billion Yuan! Jisheng Aoma and Junshi Biosciences Reach Licensing Collaboration
2024On September 26, Jisheng Aoma, a company in the Nanjing Biopharmaceutical Valley of Jiangbei New Area, announced that it had signed a licensing and cooperation agreement with Junshi Biosciences' subsidiary, Juntai Bio, for a small nucleic acid nasal spray drug.Jisheng Aoma granted Juntto Bio an exclusive license in Greater China to research, develop, improve, manufacture, produce, use, file, register, commercialize, and otherwise exploit the licensed products based on the licensed intellectual property. Additionally, Jisheng Aoma will collaborate with Juntto Bio on the development of the IAMA-001 nasal spray formulation project outside Greater China. Juntto Bio will pay Jisheng Aoma an upfront payment of RMB 40 million. Depending on the progress of the licensed product's development, Juntto Bio will pay up to RMB 240 million in development milestones in Greater China, and after obtaining marketing approval from U.S. and EU regulatory authorities for the first indication of the licensed product, Juntto Bio will pay up to USD 150 million in development milestones outside Greater China. Meanwhile, based on the sales performance of the licensed product in Greater China, Juntto Bio will pay up to RMB 250 million in sales milestones, along with royalties in the single-digit percentage of the licensed product’s annual net sales in Greater China. Both parties agreed to share all rights and benefits of the licensed product outside Greater China on a 50%:50% basis.IAMA-001 Small Nucleic Acid Immunomodulator Nasal Spray is an innovative immunomodulatory small nucleic acid nasal spray independently developed by Jisheng Aoma, mainly used for the treatment of seasonal allergic rhinitis. It is the world's first self-developed nasal spray immunomodulatory small nucleic acid drug to enter the clinical trial stage.
7. Alphamab Oncology Partners with CSPC on HER2 Bispecific ADC
2024On September 29, Alphamab Oncology announced that it had entered into a licensing agreement with Jimant Biotechnology, a wholly-owned subsidiary of CSPC Pharmaceutical Group, to develop, sell, offer for sale, and commercialize JSKN003 (a HER2 bispecific epitope-targeted ADC) in mainland China (excluding Hong Kong, Macao, or Taiwan) for the treatment of cancer-related indications.According to the licensing agreement, Alphamab Oncology is entitled to receive upfront and milestone payments totaling up to RMB 3.08 billion, including an upfront payment of RMB 400 million, development milestone payments of RMB 300 million related to the first patient enrolled in multiple registrational clinical trials, regulatory milestone payments based on regulatory approval progress, and sales milestone payments. In addition, Alphamab Oncology is also entitled to receive double-digit percentage royalties on the net sales of JSKN003.
In September 2024, China's biopharmaceutical field completed14A Deal(Cross-border Introduction1 Pen, Cross-border Going Overseas6 entries, Transactions within China7 entries）。This MonthBD transactions in China's pharmaceutical industry present the following characteristics:
1. After months of sluggish trading and no large transaction amounts, as China's capital market entered a bull market at the end of September, leading Chinese pharmaceutical companies may shift from a wait-and-see attitude to taking actual action in the future.2. In overseas deals, RuiGe Pharma & Genentech secured an impressive $850 million upfront payment, taking the lead. BAO PHARMA & Organon, I-Mab & Sanofi are collaborations for mid-to-late stage products in the Chinese market, showing confidence in China.3. In China, strong alliances continue in domestic transactions. Outstanding Chinese products, especially those in the mid-to-late stages, are achieving win-win cooperation with commercially strong Chinese listed companies.
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