Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with a big deal for Ipsen, which pulled the trigger on a $1.3 billion takeover of Clementia Pharmaceuticals. The deal gives Ipsen a late-phase rare disease drug. Novartis boosted its own pipeline by exercising its $150 million option to license antisense oligonucleotide TQJ230 from Akcea Therapeutics and move it into phase 3. Across at the venture wing of Novartis, the team joined Syncona in a CHF 35 million ($35 million) series A round for immuno-oncology startup Anaveon. Elsewhere, Johnson & Johnson entered into a lung cancer pact with AdoRx Therapeutics. Immatics teamed up with Roche to test its autologous cell therapy with checkpoint inhibitor Tecentriq. And more. — Nick Taylor
1. Ipsen strikes $1.3B Clementia buyout to boost rare disease unit
Ipsen has struck a $1.3 billion (€1.1 billion) deal to buy Clementia Pharmaceuticals for its late-phase rare disease drug palovarotene. The transaction will see Ipsen hand over $1 billion upfront to acquire the retinoic acid receptor gamma agonist ahead of a filing for FDA approval.
2. Novartis pays $150M to license Akcea-Ionis cardiac disease drug
Novartis has taken up its option to license antisense oligonucleotide TQJ230, triggering a $150 million payout that Akcea Therapeutics will share with Ionis Pharmaceuticals. The decision sets Novartis up to test the RNA-targeting drug in a phase 3 cardiovascular outcomes trial.
3. Syncona, Novartis back IL-2 immuno-oncology startup Anaveon
Syncona and Novartis have invested in Anaveon. The CHF 35 million ($35 million) series A round sets Anaveon up to advance a preclinical asset designed to enhance anti-tumor immune responses.
4. J&J bags option on AdoRx lung cancer drugs
Johnson & Johnson Is teaming up with AdoRx Therapeutics to develop lung cancer drugs. The deal gives J&J an exclusive option to research, develop and commercialize AdoRx antagonists.
5. Immatics, Roche ally to trial Tecentriq with cell therapy
Immatics has struck a deal to test its autologous cell therapy in combination with Roche’s checkpoint inhibitor Tecentriq. The clinical collaboration clears Immatics to test whether Roche’s antibody boosts the efficacy of its IMA101 in solid tumors.
And more articles of note>>