Nine $1bn+ alliances were penned in October. Topping the list was a potential $22bn deal between Daiichi Sankyo and Merck for the global development and commercialization of Daiichi’s DXd antibody drug conjugate candidates patritumab deruxtecan, ifinatamab deruxtecan and raludotatug deruxtecan.  

During Q3, biopharma merger and acquisition deal value reached $13.6bn and drew in $36.5bn in potential deal value from alliances. Device company M&A values reached $4.3bn, while in vitro diagnostics and research tools players’ M&A activity totaled $5.8bn.

During Q3, biopharmas brought in an aggregate $23.3bn in financing and device company fundraising totaled $3.6bn; while in vitro diagnostic firms and research tools players raised $649m.

Six $1bn+ alliances were penned in September. Topping the list was a potential $3.46bn multi-year deal between Nurix Therapeutics and Seagen to advance a new class of medicines called Degrader-Antibody Conjugates for use in cancer. The collaboration will focus on an innovative approach to combine two powerful technologies to target cancer – antibody-drug conjugation and targeted protein degradation – with the goal of creating drugs with new mechanisms of action as well as improved specificity and anti-cancer activity.

In the top August alliance by deal value, Precision BioSciences licensed Imugene global rights to azercabtagene zapreleucel (azer-cel), its lead allogeneic anti-CD19 CAR T candidate for cancer. Imugene will assume ongoing clinical execution for azer-cel in the large B-cell lymphoma population who have relapsed following autologous CAR T treatment. The license also includes an option to develop up to three other cancer research programs in the future. Precision will receive $21m up front and is eligible for $8m upon successful completion of the Phase Ib dosing in the CAR T relapsed LBCL patient population. For azer-cel, Precision is eligible to receive up to $198m in additional milestone payments plus royalties. For each additional research program selected by Imugene, Precision is eligible for up to $145m in milestone payments and tiered royalties on net sales.

Eight $1bn+ alliances were penned in July. Topping the list was a potential $2.8bn deal under which Alnylam granted Roche exclusive global rights outside the US to develop and commercialize its Phase II hypertension candidate zilebesiran. The companies will co-develop zilebesiran in the US.