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In 2023, the pharmaceutical industry completed more than 20 M&A deals exceeding 1 billion US dollars.This wave of mergers and acquisitions has continued into 2024, as of now.There have been several acquisition cases at home and abroad, such as AstraZeneca completing the acquisition of Gracell Biotechnologies for $1.2 billion, Novartis acquiring...Xinrui NuoPharmaceuticals, Nuvation Bio Acquires Baoyuan Pharmaceuticals, Danish Company Genmab Acquires ProfoundBio, etc.
Only in May, 6 biotechs have been acquired one after another, as follows:
$1.75 Billion: Novartis AcquisitionMarianaOn May 2, 2024, Mariana Oncology, a biotechnology company focused on developing novel radioligand therapies (RLT), announced,Novartis to Acquire the Company for $1 Billion Upfront and up to $750 Million in Potential Milestone Payments. This acquisition combines Mariana Oncology's innovative radiopharmaceutical pipeline and platform with Novartis' established clinical development and commercialization expertise.Mariana Oncology was founded in 2021 by Atlas Venture, Access Biotechnology, and RA Capital Management and has raised additional funding from other top investors, including DeepTrack Capital and Forbion.Mariana Oncology has developed a series of novel peptide-based radiopharmaceuticals for the treatment of various solid tumor cancers. The company has invested in production capabilities, a broad isotope supply chain, and new formulations to enhance the shelf life of the final product. Its lead program, MC-339, is an RLT specifically targetingSmall Cell Lung Cancer。$850 Million: Johnson & Johnson AcquisitionProteologixOn May 16, Johnson & Johnson announced that it had entered into a definitive agreement to acquire Proteologix, a private biotechnology company focused on developing bispecific antibodies for immune-mediated diseases, for $850 million, with the potential for additional milestone payments. The transaction is expected to be completed by mid-2024.PROTEOLOGIX, INC.'s pipeline includes PX128, which targets IL-13 andTSLPA bispecific antibody, is preparing to enter phase 1 development for moderate to severe atopic dermatitis (AD) and moderate to severe asthma. Another investigational therapy, PX130, is a bispecific antibody targeting IL-13 and IL-22, currently in preclinical development for moderate to severe AD. Since AD and asthma are heterogeneous diseases, with different patient subgroups driven by different signaling pathways, targeting multiple signaling pathways has the potential to achieve higher efficacy and disease remission.In addition to PX128 and PX130, this acquisition will also provide Johnson & Johnson with other bispecific antibody research and development projects, which can be applied to various other diseases, further enhancing the company's capabilities in developing novel bispecific therapeutic solutions.$1.8 Billion: Biogen Acquires HI-BioOn May 22, Biogen and immunotherapy company Human Immunology Biosciences (HI-Bio) announced that the two companies had reached an acquisition agreement. Under the terms of the agreement, Biogen will pay HI-Bio an upfront payment of $1.15 billion. If certain development milestones for the felzartamab project are achieved, HI-Bio will also be eligible to receive up to an additional $650 million, bringing the total transaction value to a potential $1.8 billion.It is currently expected that the transaction will be completed in the third quarter of 2024.HI-Bio's main asset, Felzartamab (Fizertumab), is a monoclonal antibody targeting CD38, primarily developed for autoimmune indications. Currently, Felzartamab is used for primaryMembranous Nephropathy, antibody-mediated rejection, IgA nephropathy and other clinical trials are in Phase II,Lupus NephritisIn Phase I clinical stage.In addition to felzartamab, HI-Bio's pipeline also includes izastobart/HIB210, a C5aR1-targeting antibody currently in Phase 1 clinical trials, with potential for treating a range of complement-mediated diseases. HI-Bio also has a mast cell-targeting pipeline in the discovery stage, which holds potential for application in various immune-mediated diseases.$600 Million:MerckAcquisition of Mirus BioOn May 22, Germany's Merck announced a $600 million acquisition of Mirus Bio to enhance the production capacity of gene therapy products based on viral vectors. The deal is expected to be completed in the third quarter of this year.Mirus Bio,隶属于Gamma Biosciences，总部位于美国威斯康星州麦迪逊市。Mirus Bio 是转染试剂开发和商业化的专家。其创新的转染解决方案可用于向细胞中传递遗传物质。公司基于专有的多组分技术，提供全面的RUO和GMP试剂和增强剂产品组合。其产品可为各种应用提供高性能、高成本效益的转染，从研究到病毒规模化生产，以应对 AAV 和 LV 领域快速增长的细胞和基因治疗应用。$1.25 Billion: Johnson & Johnson Acquires YJTMay 28,Johnson & Johnson announced that it has reached a definitive agreement with Numab Therapeutics for approximately12.5Billion US dollarsCashAcquisition of its wholly-owned subsidiaryYellow Jersey Therapeutics（YJT），The company will be split among Numab's shareholders.Secures Global Rights to NM26, a Novel, First-in-Class Bispecific Antibody. The transaction is expected to close in the second half of 2024.
NM26 is a first-in-class bispecific antibody for the treatment of atopic dermatitis (AD).The targets are two clinically validated pathways in AD - IL-4Rα and IL-31.The former can trigger Th2-mediated skin inflammation, while the latter can affect skin itching and subsequent scratching, thereby worsening the condition.。NM26In addition to potentially changing the treatment standard for AD, it also shows efficacy for other inflammatory skin diseases involving Th2 inflammation and pruritus.$3 Billion: Merck Acquires EyeBioOn May 29, Merck & Co., Inc. (MSD) and EyeBiotech Limited (EyeBio) jointly announced that the two companiesA definitive agreement has been reached, under which Merck will acquire EyeBio through a subsidiary for an upfront payment of $1.3 billion and potential future milestone payments of up to $1.7 billion. The total potential value of this acquisition is $3 billion.Through this acquisition,Merck will gainEyeBio's Lead Candidate Drug Restoret (EYE103), a novel late-stage candidate for the treatment of diabetic macular edema (DME) and neovascular age-related macular degeneration (NVAMD), as well as a preclinical pipeline targeting retinal diseases。Restoret is a tetravalent, trispecificWnt Antibody, can simultaneously bind to receptors LRP5 and FZD4, activating the Wnt signaling pathway. The Wnt signaling pathway plays a crucial role in restoring and maintaining the blood-retinal barrier. Preclinical studies have shown that Restoret can durably reduce retinal vascular leakage associated with DME and NVAMD.Restoret is expected to enter the pivotal study for diabetic macular edema in the second half of 2024.Mergers and acquisitions are not only a necessary means for pharmaceutical companies in and outside China to participate in international competition, but also beneficial for enterprises to expand their own market scale.Across the entire industry, the growth history of multinational pharmaceutical companies is also a history of acquisitions.For pharmaceutical companies in China, overseas mergers and acquisitions have become a trend.To cope with fierce market competition, pharmaceutical enterprises must continuously broaden their product lines and strive to expand into the international market.The varieties acquired through mergers and acquisitions are expected to achieve rapid development by leveraging the R&D, product launch, commercialization, and sales channels of domestic companies.However, mergers and acquisitions require enterprises to have strong capabilities, and the trend of the strong getting stronger remains inevitable.Reference: Official websites of various companies
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