Deals Of The Week: Academic Drug-Discovery Group’s Work Catching Industry’s Notice
As academic labs fill gaps in discovery work once performed by biopharma companies, Roche is confident that a U.S. consortium of academic drug-discovery units will lead to broader partnerships between industry and academia and within the academy itself. Plus, MedImmune acquires ADC specialist Spirogen and other deals from the past week.
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Academic drug-discovery collaborations with industry usually are limited by restraints companies place on how much of their compound libraries they’ll share in a collaboration. Plus the week’s top deals, including M&A transactions between Teva and NuPathe, and Par Pharmaceuticals and JHP.
AstraZeneca agreed to pay $200 million upfront and $240 million in predefined milestones for Spirogen to enhance its early oncology pipeline with linked tumor-targeted antibody drug conjugates. The company simultaneously announced a collaboration with ADC Therapeutics to jointly develop ADCs.
To the familiar sounds of the Fourth of July and mid-summer, Deals of the Week adds another: the sound of the next shoe dropping in biopharmaceutical merger-and-acquisition activity. What happens next after the $5 billion-plus buyout of Amylin by Bristol-Myers?