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Bristol Myers buys Orum's blood cancer therapy for up to $180 million

Bristol Myers Squibb has acquired Orum Therapeutics' experimental therapy to treat a type of blood cancer for a total value of up to $180 million, the privately held company said on Monday. The therapy, ORM-6151, which helps degrade a specific protein hard to treat previously, has received the U.S. Food and Drug Administration's (FDA) clearance for an early stage study. The deal includes an upfront payment of $100 million and milestone payments, Orum said, without disclosing further de...
Khushi Mandowara Dhanya Ann Thoppil Sriraj Kalluvila Drug Administration Bristol Myers Squibb Myers Squibb
Source: yahoo.com

Merck teams up with Daiichi Sankyo on antibody drug conjugate collaboration

TOKYO (Reuters) -Japan's Daiichi Sankyo announced on Friday a $5.5 billion agreement with Merck to jointly develop its three precision cancer drug candidates, in a deal that could generate $16 billion more depending on their success. All three candidates belong to the class of drugs known as antibody drug conjugates (ADC) and are in various stages of clinical development for the treatment of multiple solid cancer tumors. Unlike conventional chemotherapy, which can kill healthy cells, ADCs a...
Subhranshu Sahu Leslie Adler Kanjyik Ghosh Daiichi Sankyo Upfront Payment Cancer Drug
Source: aol.com

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Royalty Pharma to pay $1 billion for Roche's SMA drug royalties

Spinal muscular atrophy, a leading genetic cause of infant deaths, prevents the body from producing a protein necessary for neuromuscular development. Royalty Pharma said the agreement with PTC increases its ownership of the Evrysdi royalty from 43% to 81%, equating to a royalty of 6.5% to 13%. The company had in 2020 purchased about 43% of PTC's royalty interest in risdiplam for a one-time payment of $650 million.
Shilpi Majumdar Drug Administration Royalty Pharma Mariam Sunny Ptc Therapeutics Spinal Muscular Atrophy
Source: yahoo.com

Novo Nordisk and Valo to research cardiometabolic treatments

Danish drugmaker Novo Nordisk said on Monday it would collaborate with U.S. tech firm Valo Health to discover and develop new treatments for cardiometabolic diseases using human data and artificial intelligence. Novo Nordisk said in a statement it will use Valo's platform and Valo will receive an upfront payment and a potential near-term milestone payment of $60 million. Valo is also eligible to receive milestone payments for up to 11 programmes, totalling up to $2.7 billion, plus resear...
Anna Ringstrom Terje Solsvik Valo Health Novo Nordisk Valo Health Upfront Payment
Source: yahoo.com

AbbVie terminates deal with I-Mab to develop cancer drug

AbbVie's decision to scrap the deal comes after it pulled the plug on an early-stage study in August last year that was testing lemzoparlimab in combination with two other drugs for treating two types of blood cancers, myelodysplastic syndrome and acute myelocytic leukemia. The deal termination will be effective Nov. 20 this year, and will not affect upfront and milestone payments of $200 million that the company has received from AbbVie, according to I-Mab. I-Mab said it will explore futur...
Shounak Dasgupta Mariam Sunny Biotech Company Drug Candidates Upfront Payment
Source: aol.com

AbbVie terminates deal with I-Mab to develop cancer drug

AbbVie's decision to scrap the deal comes after it pulled the plug on an early-stage study in August last year that was testing lemzoparlimab in combination with two other drugs for treating two types of blood cancers, myelodysplastic syndrome and acute myelocytic leukemia. The deal termination will be effective Nov. 20 this year, and will not affect upfront and milestone payments of $200 million that the company has received from AbbVie, according to I-Mab. I-Mab said it will explore fut...
Shounak Dasgupta Mariam Sunny Biotech Company Drug Candidates Upfront Payment
Source: yahoo.com

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