February 2023 Top Biopharma Deal Upfront
Axsome development and commercialization deal with Pharmanovia for Sunosi
Announced: February 22, 2023
Total Deal Value: $167M
Upfront Cash: $66M
Upfront Equity: n/a
Option Payments: n/a
Milestones: $101M dev. and sales milestones
Royalty: Undisclosed mid-twenties royalties
Cost and Profit Split: n/a
The Asset:
Axsome’s Sunosi (solriamfetol), a dual-acting dopamine and norepinephrine reuptake inhibitor
Deal Structure:
Development and Com License
Partnership Features:
Collaborative Development, No Shared Cost
The Details:
-
Axsome granted Pharmanovia exclusive rights to develop and commercialize Sunosi (solriamfetol), a dual-acting dopamine and norepinephrine reuptake inhibitor in Europe and certain Middle East and North Africa (MENA) countries for the treatment of excessive daytime sleepiness (EDS) due to narcolepsy or obstructive sleep apnea (OSA).
-
Pharmanovia will be responsible for marketing Sunosi in Europe and MENA regions and will assume responsibility for all local clinical and regulatory activities.
-
Axsome will receive $66M up front and is eligible for up to $101M in sales and other milestones, plus undisclosed mid-twenties royalties.
Last Month:
Congrats to Axsome and Pharmanovia for landing DealForma’s Feb. 2023 Top Biopharma Deal. Last month’s Deal of the Month was Hutchmed – Takeda for cancer drug fruquintinib. Read about it here.
DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms. 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.
Want data for your analysis? Want us to do it? Subscribers get both.
Schedule your demo of the DealForma database to see how we help you get better reports done faster.
28,664
Deal Profiles
18,893
Funding Rounds
32,123
Company Profiles
22,077
Product Profiles
119K+
Clinical Trials
3,967
Business Developers
Specifically for Biotech, Pharma, Device, and Diagnostics
Get more done.
Stop cleaning data or getting lost in legacy databases. We built DealForma to help you be better and faster at business research. Schedule your customized demo to see how DealForma helps you impress your boss and sign-off early.
More Research by DealForma
March 2022 Top Biopharma Deal: IGM Biosciences – Sanofi IgM Antibody Platform for Cancer and Immunology/Inflammation
The top deal upfront for March 2022 was the IGM development and commercialization deal with Sanofi for cancer, immunology, and inflammation. IGM will receive $150M up front and is eligible to receive up to $6.015B in regulatory and commercial milestones, which includes $940M for each of 3 cancer targets and $1.065B for each of 3 immunology/inflammation targets. Additionally, Sanofi has expressed an interest in purchasing up to $100M of IGM non-voting common stock in a public financing.
February 2022 Top Biopharma Deal: Heidelberg – Huadong ATAC Candidates for Cancer Treatment
The top deal upfront for February 2022 was the Heidelberg development and commercialization partnership with Huadong for HDP-101, HDP-103, and options for HDP-102 (CD37-ATAC) and HDP-104. Heidelberg will receive $20M up front and is eligible for up to $449M in milestones with additional $461M in option payments upon exercise. Additionally, Huadong will invest EUR 105M (35%) in Heidelberg, with an initial commitment of EUR 80M by purchasing 12,408,649 shares at EUR 6.44 per share.
January 2022 Top Biopharma Deal: Beam – Pfizer In Vivo Base Editing and Delivery Programs for Rare Diseases
The top deal upfront for January 2022 was the Beam Therapeutics research partnership with Pfizer with an option to license in vivo base editing programs. Beam will receive $300M up front, up to up to $1.05B in development, regulatory, and sales milestones, plus royalties per licensed program. If Beam opts in to co-develop/co-promote a program, the companies will share cost and profits 65%/35% (Pfizer/Beam).
December 2021 Top Biopharma Deal: Foghorn – Loxo using Gene Traffic Control for New Oncology Treatments
The top deal upfront for December 2021 was the Foghorn – Loxo (Eli Lilly) partnership for Foghorn’s Gene Traffic Control platform. Foghorn will receive $300M up front, a $80M upfront equity investment, and up to $1.3B in potential milestones, plus a US cost/profit split and ex-US royalties.
November 2021 Top Biopharma Deal: Sanofi – Owkin artificial intelligence and federated learning platform to advance Sanofi’s oncology pipeline
The top deal upfront for November 2021 was the Owkin – Sanofi artificial intelligence and federated learning platform research partnership to advance Sanofi’s oncology pipeline. Owkin will receive a $180M upfront equity investment, $90M in R&D funding over 3 years, and is eligible for additional undisclosed R&D milestones.
October 2021 Top Biopharma Deal: Xencor – Janssen for Plamotamab and XmAb Bispecific Antibodies
The top deal upfront for October 2021 was the Xencor – Janssen deal for plamotamab and XmAb bispecific antibodies and new XmAb B-cell targeting bispecific antibodies for CD20-expressing hematologic malignancies. Xencor will receive $100M in upfront cash, $25M in an upfront equity investment, and is eligible for up to $1.18B in dev., reg., and sales milestones, plus tiered mid-teens to low-twenties royalties.
September 2021 Top Biopharma Deal: REGENXBIO – AbbVie for RBX-314 for wet AMD, diabetic retinopathy
The top deal upfront for September 2021 was the REGENXBIO – AbbVie deal for RGX-314 for wet AMD, diabetic retinopathy, and other chronic retinal diseases. REGENXBIO will receive $370M up front and is eligible for up to $1.38B in milestones, plus tiered royalties on net sales of RGX-314 outside the US and 50% of profits in the US.
August 2021 Top Biopharma Deal: RemeGen – Seagen HER2-targeted ADC, Disitamab Vedotin for Solid Tumors
The top deal upfront for August 2021 was the RemeGen – Seagen deal for HER2-targeted ADC disitamab vedotin for solid tumors. RemeGen will receive $200M in cash up front and is eligible to receive up to $2.4 billion in milestones, plus tiered, high single-digit to mid-teen royalties.
Top Biopharma Deal July 2021: Arvinas – Pfizer ARV-471 PROTAC Protein Degrader for ER+/HER2- Breast Cancer
The top biopharma deal upfront for July 2021 was Arvinas and Pfizer’s partnership for PROTAC protein degrader ARV-471 ER+/HER2- breast cancer. Arvinas will receive $650M in cash up front, $350M in an equity investment, and is eligible to receive up to $1.4 billion in milestones, plus a 50% cost and profit split.
Top Biopharma Deal June 2021: iTeos – GSK for EOS-448 anti-TIGIT mAb for Solid Tumors
The top biopharma deal upfront for June 2021 was iTeos and GSK’s partnership for anti-TIGIT mAb EOS-448. iTeos will receive $625M up front, up to $1.45B in milestones, a U.S. profit split and ex-U.S. tiered royalties.
You met on Zoom. Now it's Deal Time.
With thousands of company profiles and a decade of deals specifically in biopharma and medtech, you'll take the guesswork out of deal comps. Schedule your customized demo to see how DealForma helps you win that term sheet with better data.