Latest Deals
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Novartis to acquire Chinook Therapeutics for $3.5bn
Novartis will buy US-based clinical-stage biopharmaceutical company Chinook Therapeutics in a $3.5bn deal. Chinook common stockholders will receive $3.2bn and $300m in cash through contingent value rights upon achieving certain regulatory milestones. The deal is a merger of a newly formed subsidiary of the company with Chinook, which has two late-stage medicines currently under development to treat IgA nephropathy (IgAN), a rare, progressive chronic kidney disease. Novartis announced that the deal is in line with its strategy to focus on new medicines.
PharmaTher and Vitruvias partner to commercialise Ketarx in US
PharmaTher and Vitruvias Therapeutics have entered a collaboration deal to commercialise PharmaTher’s Ketarx (racemic ketamine) in the US. Ketarx will be marketed under the FDA-approved label of ketamine and in dosages that include 10mg/ml, 50mg/ml and 100mg/ml, with the option to boost the concentration and ready-to-administer applications.
Eli Lilly announces $2.4bn DICE therapeutics acquisition
Looking to shore up its immunology offering, Eli Lilly is set to acquire DICE therapeutics for a whopping $2.4bn. The deal, which is still subject to final regulatory approval, will see Lilly purchase all outstanding shares of DICE. At $48 a share for the South San Francisco,California-based biopharma, Lilly is paying a 40% premium on top of the 30-day average trading price.
Astellas Pharma signs licence deal with Kate Therapeutics for KT430
Astellas Pharma (Astellas) has entered an exclusive licence deal with Kate Therapeutics (KateTx) to develop and commercialise KT430. KateTx will receive an undisclosed upfront payment from Astellas for an exclusive global licence to develop, manufacture and commercialise KT430. KateTx will also receive additional payments linked to development, regulatory and commercial milestones, and royalties on the global sales of the product.
