Top Biopharma Partnership by Upfront Cash and Equity
VIR and GSK Expanding VIR-2482 and mAb Development into Influenza
Announced: Feb. 17, 2021
Total Deal Value: $845M
Upfront Cash: $225M
Upfront Equity: $120M
Option Payments: $300M
Milestones: $200M, regulatory
Profit Split: n/d, possibly 50%
Phase I VIR-2482, monoclonal antibodies, and small molecule programs for the prevention and treatment of influenza and other respiratory viruses
Research and Option to License
Co-Development, Options to additional products
- Vir Biotechnology signed a research partnership with GlaxoSmithKline granting it an exclusive option to co-develop and commercialize mAbs, including VIR-2482, and undisclosed small molecule programs for the prevention and treatment of influenza and other respiratory viruses.
- The partners had already signed an agreement in April 2020 to develop VIR-2482 for COVID-19. Additionally, the companies are expanding their current functional genomics partnership to develop pancoronavirus therapeutics.
- Vir and GSK are also expanding the deal to include other respiratory virus targets and are researching 3 neutralising mAbs over a 3-year research period by applying Vir’s antibody functional genomics technology platform to target non-influenza pathogens.
- GSK has the exclusive option to co-develop VIR-2482 after Vir continues to fund, completes, and reports Phase II trial outcomes.
- Vir Biotechnology will receive $225M up front and GSK will invest $120M in Vir’s common stock, adding to the equity share from the April deal. If GSK exercises its option to co-develop, Vir will receive a $300M option fee and is eligible to receive up to $200M in regulatory milestone payments. The partners will share development costs and profits.
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.
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
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.
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.
Top Biopharma Deal May 2021: Agenus – BMS for AGEN-1777 Bispecific Anti-TIGIT Antibody for Non-Small Cell Lung Cancer
The top biopharma deal upfront for May 2021 was Agenus and BMS’ partnership for anti-TIGIT mAb AGEN-1777. Agenus will receive $200M up front.
Top Biopharma Deal April 2021: CRISPR – Vertex for CTX001 for Sickle Cell Disease and Transfusion-Dependent Beta-Thalassemia
CRISPR Therapeutics and Vertex Pharmaceuticals amended their 2015 deal to develop and commercialize gene editing therapies. This expansion is for Phase I/II CTX001 for severe sickle cell diseases and transfusion-dependent beta-thalassemia. CRISPR will receive $900M up front, up to $200M in milestones upon the first regulatory approval, and a cost/profit split of 40%.
Debiopharm granted Merck exclusive, worldwide rights to develop and commercialize Xevinapant in Phase III for advanced squamous cell carcinoma of the head and neck. Debiopharm will receive EUR188M ($227M) up front and is eligible for up to EUR710M ($856M) in milestones, plus royalties. This was the largest upfront cash and equity for a partnership signed in March 2021.
Biotech and pharma deals in 2020 soared to an all-time high of 1,154 signed deals with $146.3 billion in total value, defying expectations that the global Covid-19 pandemic would hamper dealmaking. Global healthcare and life sciences R&D partnership activity was up 23 percent over 2019 and total deal values rose 31 percent from the previous year, driven in part by advances in technological and molecular understandings of disease pathways, and a drive toward targeted precision medicines.
Biotech and pharma M&A total deal values slumped in 2020, despite an active year in life sciences dealmaking, with no big standout biopharma deals until late in the second half of the year. We look at the extensive DealForma database to see how life sciences M&A activity shaped up in 2020 in more detail.
This article is a sample from the DealForma Annual Deal Trends Report provided to database subscribers. Data for this analysis was compiled using the DealForma biopharma deals database. We applied initial filters for mergers and acquisitions, therapeutic areas, asset...
Over the last three years, there have been eight M&A deals for companies developing advanced first generation and next gen cancer cell therapies. Six of them have been completed to date.
We looked at 10 years of gene therapy deals, M&A, venture funding, and academic partnerships for an article by John Carroll at Endpoints News.
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.