Intellectual Property
Top Biopharma Deals Q1 ‘08
It’s a just a quarter of the way into 2008 and it is clear the both large
biotech and pharma have holes to fill in thier pipeline. Six deals have
already been inked that total over a half a billion bio-dollars each.
Below are 4 of the top deals thus far:
Genzyme/Isis ($1,900M) - Genzyme paid Isis $175M in
cash and another $150M in equity upfront for the rights to Mipomersen,
its phase III, apolipoprotein B-100 targeting drug initially indicated
for familiar hypercholesterolemia (FH). Isis will also receive 70/30
profit split on a sliding sales up to $2B to a 50/50 split for sales
>$2B. I would have loved to have been a little fly on the wall
during the negotiations with every profitable company in biopharma when
trying to convince Isis they were the best partner. Genzyme isn’t a
top 30 company when ranked by sales but it has the sales force and the
chops to market niche products in rare indications like FH.
Acceleron/Celgene ($1,878M) - Celgene and
Acceleron will jointly develop, ACE-011 (and three other pipeline
candidates), as protein therapeutic based on the activin receptor type
IIA and novel bone-forming agent. Celgene made an upfront payment to
Acceleron of $50M, which includes a $5M of equity in the private
Acceleron and in the event of an IPO is required to purchase at least
$7M in shares. Not a bad chunk of change for a drug that just
concluded phase I development. Next step, phase IIa in multiple myeloma.
Amgen/Takeda ($902M) - This is
more of a restructuring for Amgen rather than a sale but I’ve included
it anyway for the sake of completeness. The deal includes a Global
Partnership for Motesanib Diphosphate and 13 other compounds for which
Amgen is set to receive a $200M upfront payment, $702M in R&D
expense sharing and milestones and double digit royalties on future
Japanese sales as well as 50/50 profit sharing outside Japan.
GSK/Addex ($702M) - GSK and Addex
inked a deal over ADX63365, a preclinical stage, positive allosteric
modulator of mGluR5 (metabotropic glutamate receptor subtype 5) for the
treatment of schizophrenia. For the compound, Addex is set to receive
$22M upfront and ~$455M in R&D costs, sales and other milestones
for the first two indications and up to $225M for additional
development.
So there you have it… the four largest bio-dollar deals thus far in
2008. It will be interesting to see if any of these make the top 5 in
six months. Stay tuned.
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