Over the last three years, there have been eight cancer cell therapy M&A deals for advanced first generation and next gen cancer cell therapy companies. Six of them have been completed to date. Data for this analysis was compiled using the DealForma biopharma deals database. We applied initial filters for mergers and acquisitions of companies developing cell therapies for cancer and excluded terminated acquisition offers. From there, we exported the data to Excel, segmented the list by whether the target company’s cell therapy would be considered first generation or next gen, and used pivot tables and charts to do the rest. All data are based on publicly disclosed figures. We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.
As the 38th annual J.P. Morgan Healthcare Conference approached, we used the DealForma deals database to evaluate the recent M&A activity in the cancer cell therapy space. With Yescarta axicabtagene ciloleucel and Kymriah tisagenlecleucel now on the market for two years, cell immunotherapies are one of the newest forms of treatment that helps the immune system fight cancer. We identified eight total cancer cell therapy-focused acquisitions announced in the last three years, six of which have been completed and are highlighted below in order based on deal value. Included in the broader cell therapy analysis that follows were M&A’s, reverse mergers, exercised acquisition options and partnerships with an acquisition option. Terminated acquisition offers were excluded, and Bristol-Myers Squibb’s $74 billion acquisition of Celgene was charted separately.
Gilead Sciences acquired Kite Pharma
- Date Announced: August 28, 2017
- Total Deal Value: $11.9 billion
- Target Stage at Acquisition: Phase III
- Main Asset at Acquisition: Yescarta (chimeric antigen receptor (CAR) T therapy)
Celgene acquired Juno Therapeutics
- Date Announced: January 22, 2018
- Total Deal Value: $9 billion
- Target Stage at Acquisition: Phase II
- Main Asset at Acquisition: JCAR017 (lisocabtagene maraleucel; liso-cel) – CAR-T therapy
Astellas Pharma acquired Xyphos Biosciences
- Date Announced: December 26, 2019
- Total Deal Value: $665 million
- Target Stage at Acquisition: Preclinical/IND
- Main Asset at Acquisition: “convertibleCAR-T” cell product, ACCEL (Advanced Cellular Control through Engineered Ligands) technology platform
Gilead, Kite acquired Cell Design Labs
- Date Announced: December 7, 2017
- Total Deal Value: $567 million
- Target Stage at Acquisition: Platform/Discovery
- Main Asset at Acquisition: synNotch and Throttle technology platforms for CAR-T cells
Astellas acquired Universal Cells
- Date Announced: February 13, 2018
- Total Deal Value: $102.5 million
- Target Stage at Acquisition: Preclinical/IND
- Main Asset at Acquisition: Universal Donor Stem Cell technology
Kiadis acquired CytoSen Therapeutics
- Date Announced: April 17, 2019
- Total Deal Value: Not Disclosed
- Target Stage at Acquisition: Phase III
- Main Asset at Acquisition: ATIR101 (Allodepleted T-cell immunotherapy, discontinued development as of November 2019); CSDT002-NK (natural killer-cell therapy)
Two M&A option deals that are yet to be exercised are Kite’s research partnership and an option to acquire Gadeta, and Millennium Pharmaceuticals’ (Takeda Oncology) research partnership and option to acquire GammaDelta Therapeutics.
Using DealForma’s deals database, we also evaluated M&A trends over the past decade of companies developing first and next generation cell therapy, gene therapy, other immuno-oncology therapies, and small molecules for cancer.
Finally, we compared the macro-trends of cancer immunotherapy/cell therapy M&A field with other technology fields including small molecules, diagnostics and gene therapy/vectors.
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Marie Daghlian is a freelance writer and editor who reports on the business of biotechnology and healthcare technologies and on rare diseases for Global Gene’s Rare Daily. She also covers the industry for Big4Bio, a daily newsletter focused on the four major biotech centers in the United States.
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November 2022 Top Biopharma Deal: POINT – Lantheus for cancer drugs PNT2002 and PNT2003
The top deal upfront for Nov 2022 was the POINT – Lantheus exclusive, worldwide ex-Asia license to co-develop and commercialize POINT’s PNT2002, a PSMA-targeted 177 Lu-based radiopharmaceutical therapy, and PNT2003, a somatostatin receptor (SSTR) targeted radioligand therapy by combining POINT’s radioligand development expertise with Lantheus’ commercial expertise in PSMA PET and radiopharmaceuticals for the treatment of metastatic castration-resistant prostate cancer (mCRPC) and gastroenteropancreatic neuroendocrine tumors (GEP-NETs). Additionally, POINT will be responsible for the funding, development, and manufacturing of PNT2002 and PNT2003 while Lantheus will be responsible for NDA approval and development and commercial expenses. POINT will receive $250M (for PNT2002)and $10M (for PNT2003) up front and is eligible for up to $281M and $34.5M in development milestones and up to $1.28B and $275M in commercial milestones, plus 20% and 15% royalties for PNT2002 and PNT2003, respectively.
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September 2022 Top Biopharma Deal: SpringWorks – GSK for Nirogacestat in combination with Blenrep
The top deal upfront for Sep 2022 was the SpringWorks expanded clinical collaboration with GSK for Nirogacestat in combination with GSK’s Blenrep. SpringWorks granted GSK non-exclusive rights to develop and commericalize Nirogacetat,an oral gamma-secretase inhibitor, in combination with GSK’s Blenrep, an antibody-drug conjugate targeting B-cell maturation antigen for the treatment of multiple myeloma. SpringWorks will receive a $75M equity investment in shares of common stock at a premium to the 30-day volume-weighted average share price on Sept 2, 2022, and is eligible to receive up to $550M in development and commercial milestones.
August 2022 Top Biopharma Deal: Sanofi – Innovent for Cancer Drugs SAR408701 and SAR444245
The top deal upfront for Aug 2022 was the Sanofi development and commercialization deal with Innovent for SAR408701 and SAR444245. Sanofi granted Innovent exclusive rights to develop and commercialize its SAR408701 (tusamitamab ravtansine) for the treatment of non-small cell lung cancer (NSCLC) and gastric cancer in China. Additionally, Sanofi and Innovent will co-develop SAR444245 for the treatment of multiple cancer drugs. Sanofi will invest EUR300M (approx. $306.6M) in Innovent up front at HK$42.42 (approx. $5.40) per share in Innovent common stock. Sanofi is eligible for EUR80M (approx. $81.7M) in development milestones plus royalties for SAR408701, while Innovent is eligible to receive EUR60M (approx. $61.3M) in development milestones and royalties for SAR444245.
July 2022 Top Biopharma Deal: Orion – MSD for Prostate Cancer Drug ODM-208
The top deal upfront for July 2022 was the Orion co-development and co-commercialization deal with MSD for ODM-208. Orion granted MSD rights to co-develop and co-commercialize ODM-208 for the treatment of metastatic castration-resistant prostate cancer. Orion and MSD have an option to convert the co-development and co-commercialization agreement into a global exclusive license to MSD. Upon exercising the option, MSD will retain the responsibility for all accrued and future development and commercialization expenses associated with the program. Orion will receive $290M up front, including $221M recognized as income, and approximately $60.3M reserved to cover Orion’s share of ODM-208 future development cost. Orion is eligible for undisclosed development and commercialization milestones, plus double-digit tiered royalties.
June 2022 Top Biopharma Deal: Sanofi – Regeneron Pharmaceuticals for Cancer/Inflammation drug Libayo
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May 2022 Top Biopharma Deal: Dragonfly Therapeutics – Gilead Sciences NK cell engager for cancer/inflammation
The top deal upfront for May 2022 was the Dragonfly Therapeutics development and commercialization deal with Gilead Sciences for solid tumors. Gilead has an exclusive, worldwide option to develop and commercialize additional NK cell engager programs by using its Tri-specific NK Engager (TriNKET) platform after the completion of certain preclinical activities. Dragonfly will receive $300M up front and is eligible to receive undisclosed opt-in payments and development, regulatory, and commercial milestones, plus up to 20% royalties.
April 2022 Top Biopharma Deal: Harbour BioMed – AstraZeneca Bispecific Antibody for Cancer Treatment
The top deal upfront for April 2022 was the Harbour BioMed development and commercialization deal with AstraZeneca for solid tumors. AstraZeneca will be responsible for all costs for development and commercialization. HBM will receive $25M up front and is eligible for up to $325M in development, regulatory, and commercial milestones, plus undisclosed tiered royalties.
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