A series of disappointments that drove Sage Therapeutics Inc.’s stock down by 85% since August of 2023 has evolved into an unsolicited takeout offer by partner Biogen Inc., followed by a lawsuit filed by Sage a week later. The two parties, both of Cambridge, Mass., first partnered in a $1.52 billion deal in 2020, primarily to develop Zurzuvae (zuranolone) for depression. The deal included Biogen taking a 10.2% equity stake in Sage, paying $104.14 per share, or $650 million total.
In a deal potentially worth $810 million for Regenxbio Inc., Nippon Shinyaku Co. Ltd. is partnering on the U.S. and Asian development and commercialization of iduronate-2-sulfatase enzyme RGX-121 for Hunter syndrome and RGX-111 for Hurler syndrome.
Insilico Medicine Inc. nabbed a potential $550 million-plus deal with Menarini Group’s Stemline Therapeutics Inc. for an unnamed preclinical small-molecule drug targeting solid tumors, adding to a $500 million deal inked by the duo in January 2024.
Mountainfield Venture Partners and Chengdu, China-based Keymed Biosciences Co. Ltd have partnered to form San Diego-based Timberlyne Therapeutics, which will progress Keymed’s CD-38 monoclonal antibody globally excluding China.
Gilead Sciences Inc. is moving further into inflammatory diseases in a potential $1.7 billion deal with Leo Pharma A/S around a preclinical oral signal transduction and activator of transcription 6 (STAT6) program that the Danish dermatology specialist has been working on since 2018.
Abbvie Inc. and Simcere Zaiming Pharmaceutical Co. Ltd. are part of the volley of large deals accompanying the opening of the 43rd annual J.P. Morgan Healthcare Conference in San Francisco. The two have agreed to develop SIM-0500, a humanized GPRC5D-BCMA-CD3 trispecific antibody, which is in phase I studies in the U.S. and China to treat refractory multiple myeloma.
Joining the dealmaking spree to kick off the 2025 J.P. Morgan Healthcare Conference, Eli Lilly and Co. announced it was picking up an early clinical-stage PI3Kα inhibitor program from Scorpion Therapeutics Inc. in a deal that could be worth up to $2.5 billion, while GSK plc is adding to its cancer pipeline with the acquisition of Idrx Inc. for $1 billion up front.
The J.P. Morgan (JPM) Healthcare Conference in San Francisco kicked off with a resounding bang as Johnson & Johnson (J&J) disclosed plans to acquire Intra-Cellular Therapies Inc. for $132 per share, which equates to an equity value of about $14.6 billion.
Biopharma stocks saw a year of ups and downs in 2024, with the BioWorld Stock Index rising as much as 21% before dipping below 2% and ultimately closing the year up 5.16%. This performance follows a 33.59% gain in 2023 and a sharp 32.75% decline in 2022. Among the 509 stocks analyzed in the index, 169 companies (33%) ended the year with gains, while 340 (67%) saw their shares decline.
Windward Bio AG was established with plans to both license a drug and establish wet labs to create an internal pipeline of drug candidates. SR One, Omega Funds, RTW Investments, Qiming Venture Partners, Quan Capital and Pivotal Bioventure Partners funded the Basel, Switzerland-based company’s $200 million series A financing round.
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