Ropes & Gray LLP’s Post

Gibson Dunn represented Arrowhead Pharmaceuticals in its exclusive global license and collaboration with Sarepta Therapeutics for the co-development and commercialization of multiple clinical and preclinical programs in rare genetic diseases of the muscle, central nervous system, and lungs.   Upon closing, Arrowhead will receive $825 million, including an upfront payment of $500 million and an equity investment of $325 million as an equity investment priced at a 35% premium, with an additional $250 million paid over five years. Arrowhead is also eligible to receive $300 million in near-term clinical trial enrollment-related milestone payments, up to $10 billion in future milestone payments, and royalties on sales of licensed products.   The closing of the proposed transaction is subject to approval under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in the first quarter of 2025.   The Gibson Dunn team was led by partner Karen Alexandra Spindler (San Francisco) and included of counsel Todd Trattner (San Francisco) and associate Catie Sakurai (Palo Alto) on collaborations and licensing. Partners Ryan Murr (San Francisco) and Jeffrey Krause (Los Angeles), and associate Melanie Neary (San Francisco) advised on corporate matters. Partner Jin Hee Kim (New York) and associate Paul Rafla (New York) advised on finance. Partner Pamela Lawrence Endreny (New York) and associate Ryan Rott (New York) advised on tax. Partners Michael Perry (Washington, D.C.) and Attila Borsos (Brussels), and counsel Andrew Cline (Washington, D.C.) advised on antitrust and competition.   Read more: https://lnkd.in/ghwG3Zs5

#CTS2024 We kicked off the evening with Cedric Francois, Co-Founder and CEO of Apellis Pharmaceuticals and Pascal Deschatelets, Co-Founder and Chief Operating Officer of Apellis Pharmaceuticals. They shared the challenges and successes encountered in drug discovery and development, leading to the launch of the first therapy for geographic atrophy. #CTSRetina #CTSRetina2024

2024 Dec- YAFO Global Biopharma Transactions Report 雅法全球生物医药交易月报 The final month of 2024 concluded on a high note with an impressive total of 94 licensing and cooperation deals signed globally. In the China biotech sector alone, 17 out-licensing deals, 7 in-licensing deals, and 10 domestic deals were secured. Among the key deals, Hansoh Pharmaceutical’s partnership with Merck & Co. for the preclinical asset HS-10535 stood out as the top out-licensing agreement, valued at $2,012 million with an upfront payment of $112 million. Eli Lilly’s collaboration with InnoventBiologics for the approved asset pirtobrutinib highlighted a notable in-licensing deal, while CSPC Pharma’s domestic agreement with BeOne Medicines for the Phase 1 oncology asset SYH2039 was valued at $1,835 million, including a $150 million upfront payment.  Globally, 60 licensing and cooperation deals were signed in December. The most prominent deal was between PTC Therapeutics and Novartis for the Phase 2 asset PTC518, valued at $2,900 million with a substantial upfront payment of $1,000 million. #LicensingDeals #BiotechDeals #Partnership #Collaboration https://lnkd.in/g9Ag772y

We had a busy first half of the year at Ligand Pharmaceuticals and the momentum continues to build as we enter the second half of 2024. Today we announced our second major investment of the year: the acquisition of APEIRON Biologics AG which holds royalty rights to QARZIBA®, for $100 million.   This immediately accretive transaction adds another valuable oncology asset, marketed by a global pharmaceutical company, to our growing commercial-stage royalty portfolio of more than 30 products. We now have a dozen key marketed products driving our financial performance and a strong development stage pipeline that includes over 25 assets with an NDA submission or in Phase 2 or 3 development.   Read more here: https://bit.ly/45TqYA1

Roquefort Therapeutics signs term sheet for sale of Midkine portfolio for at least $10m @roqueforttherap #LSE #OTCQB #ROQ #ROQAF. Roquefort Therapeutics PLC (LSE:ROQ, OTCQB:ROQAF) has signed a term sheet to sell its subsidiary, Lyramid, to Pleiades Pharma for at least $10 million. The deal includes equity in Pleiades and may involve upfront cash payments. The agreement, expected to be finalised within 30 days, would see Roquefort retain a significant equity stake in Pleiades, a privately held company focused on clinical and pre-clinical medicines. Completion is subject to Pleiades securing additional funding and completing in-licensing transactions. Lyramid... http://ow.ly/X3bO105VMxe

Roche didn't want to buy Poseida Therapeutics, Inc. at first. An undisclosed pharma made an unsolicited acquisition offer before the giant showed interest in a takover. https://lnkd.in/eKPgVXTf

Cooley advised Keros Therapeutics, a biopharma company developing treatments for disorders linked to dysfunctional TGF-beta signaling, on its exclusive global license agreement with Takeda Pharmaceuticals to advance elritercept. Congratulations to Keros and to the Cooley team led by Alan Tamarelli, Ryan Sansom, Marc Recht, David Burns, Natasha Kaye, Navya Dasari, Amanda Pacheco and Bartholomäus Regenhardt. ➡️ Read more here: https://bit.ly/4g6rJd4

In the next quarter, the FDA is gearing up to make some key decisions on five drugs. One of particular interest is BridgeBio Pharma's acoramidis in transthyretin amyloidosis cardiomyopathy. This drug rebounded from lackluster Phase 3 trial results, which is highly unusual in the industry. New drugs from AstraZeneca and Daiichi Sankyo, Vertex, PTC Therapeutics, and Bristol Myers Squibb all feature in this list too: https://hubs.la/Q02W6M6x0 #FDA #DrugDev

Shield Therapeutics plc (AIM:STX, OTCQX:SHIEF) reported strong sales for the third quarter of 2024. It unveiled plans to raise around $10 million of new investment and reiterated its aim of becoming cash flow positive next year. Shield’s flagship iron deficiency drug, Accrufer, generated $7.2 million in net revenue, driven by a 20% increase in prescriptions compared to the previous quarter and an 86% rise from the same period in 2023. Including royalties and milestone payments, Shield reported total quarterly revenue of $8 million, resulting in $20 million in revenue for the first nine months of the year. The company expects to meet its full-year revenue target of $31.5 million. Shield has taken steps to strengthen its financial foundation in line with its strategic goal to achieve positive cash flow by the end of 2025. More at #Proactive #ProactiveInvestors http://ow.ly/qGFW105Nh91

I did an interview with the wonderful Meredith Heyman earlier this year on the weight-loss drugs market. Her video focuses on efforts by Viking Therapeutics, Inc., Biohaven and Regeneron and others are trying to take on Eli Lilly and Company and Novo Nordisk. https://lnkd.in/gnZBJFdH