Two Protein Degraders Featured in Eight Major Pharma Deals This Week
Nurix Therapeutics
Small Molecule Drug Developer
Incyte
Small Molecule Drug Developer
Vega Therapeutics
Developer of New Therapies for Rare Blood Diseases
Johnson & Johnson
Medical Device R&D and Manufacturer
Firefly Bio
Cancer Treatment Platform Developer
2. $2 Billion! Incyte Acquires Vega Therapeutics
On June 8, Incyte announced the acquisition of Vega Therapeutics for an upfront payment of $1.25 billion and milestone payments totaling $750 million.Vega Therapeutics’ core asset, VGA-39, is a Protein S modulator that normalizes thrombin generation by regulating the TFPI and aPC pathways, without driving excessive coagulation. Top-line data from Phase 3 clinical trials are expected to be released in early 2029, with peak sales projected to exceed $1 billion.Current standard therapy requires intravenous injections two to three times per week, whereas VGA039 requires only once-monthly subcutaneous injection.Novel antibody-based therapies are profoundly reshaping the treatment landscape for coagulation disorders. The FIX/FX bispecific antibody has become the standard of care for hemophilia A, while VGA039 is poised to revolutionize the treatment paradigm for von Willebrand disease (VWD). Hemlibra’s annual sales have surpassed $6 billion, and VGA039’s peak sales are also expected to exceed $1 billion.3. $1 Billion! Johnson & Johnson Acquires Firefly Bio
On June 8, Johnson & Johnson announced the acquisition of Firefly Bio for $1 billion in cash. Firefly Bio is a biotechnology company advancing its proprietary Firelink™ Degradation Antibody Conjugate (DAC) platform. The Firelink™ DAC platform, designed for KRAS-driven tumors, supports Johnson & Johnson’s oncology portfolio and is dedicated to developing targeted therapies for the most common, difficult-to-treat solid tumors with unmet medical needs. In 2024, Firefly Bio emerged from stealth mode and completed a $94 million Series A financing round, co-led by founding investors Versant Ventures, MPM BioImpact, and Decheng Capital, with Eli Lilly participating as an investor.
4. Everest Medicines Again “Sweeps Up” Assets from Jixing, Securing Greater China Rights for Presbyopia Eye Drops
June 8 News: Everest Medicines and Jixing Pharmaceuticals Reach Asset Acquisition Agreement, Securing Rights to Develop, Manufacture, and Commercialize LNZ100 Eye Drops in Greater ChinaAccording to the agreement, Everest Medicines will make an upfront payment and development milestone payments to Jixing Pharmaceuticals. As part of this agreement, Everest Medicines will acquire the rights, interests, claims, responsibilities, obligations, and liabilities under the license agreement and related ancillary agreements entered into by Jixing Pharmaceuticals in April 2022. LNZ100, developed by LENZ Therapeutics, is a once-daily eye drop for the treatment of presbyopia (commonly known as "age-related farsightedness"). Jixing Pharmaceuticals obtained exclusive rights to develop and commercialize LNZ100 in Greater China in April 2022 and submitted its marketing application to the National Medical Products Administration of China in September 2025, with approval expected in the first quarter of 2027.
5. Over $1 Billion! Eli Lilly In-licenses a Novel Oral Small-Molecule Drug for Alzheimer’s Disease
On June 9, Swedish biopharmaceutical company AlzeCure Pharma announced that it had entered into a collaboration and licensing agreement with Eli Lilly and Company for the global rights to its Alzheimer’s disease program, Alzstatin ACD680. Under the terms of the deal, AlzeCure will receive a $10 million upfront payment, along with development and commercial milestone payments, as well as mid-single-digit royalties on sales. Excluding royalties, the total potential value of the transaction could exceed $1 billion.Alzstatin ACD680 is a γ-secretase modulator designed to reduce the production of harmful amyloid-beta 42 (Aβ42), which serves as the building block for amyloid plaques in the brains of patients with Alzheimer’s disease.
6. $10.6 Billion! GSK Acquires Nuvalent
On June 9, GlaxoSmithKline (GSK) announced that it had reached an acquisition agreement with Nuvalent to acquire all of the latter’s Class A and Class B common shares in cash at a price of $124 per share within 10 business days. The total equity value of this transaction is estimated at $10.6 billion (£8.0 billion). After deducting cash, GSK’s total investment is estimated at $9.4 billion (£7.1 billion).This acquisition aligns with GSK’s product acquisition strategy, which targets therapies with validated mechanisms of action that effectively address the limitations of current standard-of-care treatments in terms of efficacy and/or tolerability. Nuvalent’s pipeline primarily comprises three lung cancer therapeutics: zidesamtinib (NVL-520), neladalkib (NVL-655), and NVL-330.Zidesamtini is a potential next-generation best-in-class ROS1 inhibitor, and Neladalkib is a potential next-generation best-in-class ALK inhibitor.NVL-330 is a potential best-in-class HER2 inhibitor.7. Ultra$1.4 Billion! Novartis Strikes R&D Collaboration on Novel Molecular Glues
On June 10, Orionis Biosciences announced a collaboration with Novartis to jointly discover and design molecular glue drugs for challenging therapeutic targets across multiple disease areas.Under the terms of the agreement, Novartis and Orionis will leverage Orionis’s Allo Glue™ platform and its AI-driven discovery engine to accelerate target and ligase profiling as well as molecular glue optimization.Orionis will receive a $40 million upfront payment and be eligible for up to $1.4 billion in research, development, and commercial milestone payments, as well as tiered royalties on net sales of collaborative products. This expansion builds upon the major drug discovery partnership with Novartis announced at Orionis Biosciences’ debut on March 5, 2020.8. Over $500 Million! Laekna Licenses PI3Kα Inhibitor for Overseas Markets
On June 10, Laike Pharma announced a collaboration with Vasque Bio on a novel pan-mutant selective PI3Kα inhibitorLAE118 entered into an exclusive license agreement.Pursuant to the terms and conditions of the License Agreement, Laekna PharmaceuticalsGrant Vasque Bio an exclusive global license (excluding mainland China, the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and Taiwan) to develop, manufacture, commercialize, and otherwise exploit LAE118, along with associated rights. In return, Laekai Pharmaceuticals is entitled to a non-refundable and non-creditable upfront cash payment of USD 10 million, as well as equity in Vasque Bio representing up to high double-digit percentages of its issued ordinary shares, or cash payments in lieu of such shares, without additional consideration; it is also entitled to development and sales milestone payments totaling up to USD 517 million, and tiered royalties ranging from single-digit to double-digit percentages based on future net sales of LAE118 within the licensed territory. If Vasque Bio enters into a qualified strategic collaboration or acquisition transaction meeting specific conditions related to the use of LAE118, Laekai Pharmaceuticals will be entitled to additional payments of up to 50% of the value of such strategic transaction.Disclaimer: This article is published/reposted solely for the purpose of disseminating information and does not represent the views of this official account or verify the authenticity of its content. Any judgments made based on this content are at your own risk.If there is any infringement, please inform us and we will delete it immediately!
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