September 2022 Top Biopharma Deal: SpringWorks – GSK for Nirogacestat in combination with Blenrep

by | Oct 3, 2022

September 2022 Top Biopharma Deal Upfront

SpringWorks development and commercialization deal expansion with GSK for Nirogacestat in combination with Blenrep (expanded deal)

Announced: September 7, 2022

Total Deal Value: $625M

Upfront Cash: n/a

Upfront Equity: $75M

Option Payments: n/a

Milestones: $550M dev. and commercial milestones

Royalty: Undisclosed

Cost and Profit Split: n/a

The Asset:

Springworks’ Nirogacestat, 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.

Deal Structure:

Development and Commercial License

Partnership Features:

Collaborative Development, No Shared Cost; Co-Development, Shared Dev Cost

The Details:

  • SpringWorks expanded its 2019 clinical collaboration and granted GSK non-exclusive rights to develop and commercialize its nirogacestat, 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 retains full commercial rights to nirogacestat and will be responsible for the global commercialization of nirogacestat.
  • 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.

Last Month:

Congrats to SpringWorks and GSK for landing DealForma’s September 2022 Top Biopharma Deal. Last month’s Deal of the Month was Sanofi – Innovent for antibody-conjugate drug SAR408701 for the treatment of non-small cell lung cancer (NSCLC). 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.

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