Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with MorphoSys, which unveiled a much-anticipated deal for its anti-CD19 antibody tafasitamab. Incyte took the other side of the deal, paying $750 million upfront for near-global rights. Elsewhere, Adaptimmune climbed out of a slump on the back of clinical data and a cell therapy deal with Astellas. Galapagos returned to Fibrocor to pick up options on four more fibrosis candidates. BioNTech struck a deal to buy Neon Therapeutics. Ipsen appointed Steven Hildemann as its chief medical officer. And more. — Nick Taylor
1. Incyte pays $750M upfront for rights to MorphoSys cancer drug
Incyte is set to pay MorphoSys $750 million upfront for rights to anti-CD19 antibody tafasitamab. The licensing deal, which features a $150 million equity investment and up to $1.1 billion in milestones, gives Incyte a big stake in a near-approval asset that achieved CAR-T-like efficacy in lymphoma patients.
2. Astellas teams with Adaptimmune to create CAR-T, TCR therapies
Astellas has teamed up with Adaptimmune to develop allogeneic chimeric antigen receptor T-cell and T-cell receptor therapies. The agreement sees Astellas pay $50 million (€45 million) upfront and commit to many times as much in milestones to work with Adaptimmune to identify targets and develop cell therapies against them.
3. Galapagos bags option on 4 more Fibrocor programs
Galapagos has struck another deal to expand its fibrosis pipeline, picking up an option to license four Fibrocor programs. The deal comes one year after Galapagos landed global rights to an early-stage idiopathic pulmonary fibrosis treatment in development at Fibrocor.
4. After IPO, BioNTech nabs cell therapy startup Neon Therapeutics
Germany’s BioNTech, which has gotten off some monster raises, is paying just $67 million in an all-stock deal to snap up Neon Therapeutics and its early-stage T-cell work.
5. Ex-Merck Serono CMO takes up medical role at struggling Ipsen in its evolving C-suite
Steven Hildemann, M.D., Ph.D., is set to join Parisian biotech Ipsen as its new executive vice president and chief medical officer as the company looks to overturn a clinical hold and steady the ship under a new CEO.
And more articles of note>>