Merck Buys Caraway Therapeutics
On November 21, Merck & Co., Inc. announced that it was acquiring Caraway Therapeutics, a biotechnology company based in Cambridge, Massachusetts. The addition of Caraway Therapeutics will broaden Merck’s preclinical pipeline with a selection of programs aimed at Parkinson’s disease and beyond. Merck, through a subsidiary, will buy Caraway for a total potential consideration of up to $610 million, including an undisclosed upfront payment as well as contingent milestone payments. The upfront payment will be expensed by Merck in the fourth quarter of 2023 and included in non-GAAP results. Caraway Therapeutics’ approach leverages genetic data and unique biological... Read More »
Bristol Myers Squibb Acquires Orum’s ORM-6151
On November 6, Bristol Myers Squibb (BMS) announced that it entered into an agreement to acquire Orum Therapeutics’ GSPT1 platform. Under this transaction, BMS will pay an upfront payment of $100 million, and Orum Therapeutics is eligible to receive milestone payments for a total deal value of $180 million. Orum Therapeutics’ GSPT1 platform uses unique Dual-Precision Targeted Protein Degradation (TPD) approach to build novel targeted protein degraders combined with the precise tumor cell delivery mechanisms of antibodies. This generates innovative, first-in-class, tumor-selective TPDs for the treatment of cancer. BMS is a global biopharmaceutical company whose... Read More »
JLL Report: 2023 Life Sciences Industry and Real Estate Perspective
Recently, JLL released a report titled, “2023 Life Sciences Industry and Real Estate Perspective: Assessing the future landscape for biopharma, medtech and biomanufacturing” that explores the real estate landscape of technology sectors. According to data captured in the LevinPro HC database, JLL has advised on 24 transactions in 2023. Of those, there were 19 medical office buildings, two inpatient behavioral health hospitals, one ambulatory surgery center and one acute care facility. In total, the 50 facilities consist of more than 4.2 million square feet. The report was broken down into multiple sections that looked at various elements of the market. Below, we’ve summarized each... Read More »
Aileron Therapeutics Acquires Lung Therapeutics
Aileron Therapeutics, Inc. has announced its acquisition of Lung Therapeutics. Financial terms of the deal were not disclosed. Lung Therapeutics is a clinical-stage biopharmaceutical company developing novel therapies for underserved, life-threatening lung conditions. The Lung Therapeutics pipeline features leading programs LTI-01 and LTI-03, two candidates that indicate a novel way to treat lung diseases. Aileron Therapeutics is a chemoprotection oncology company focused on the clinical development of its lead product candidate, ALRN-6924, to protect cancer patients against chemotherapy-induced toxicities. Following the acquisition, Aileron entered into a definitive... Read More »
Roche Acquires Telavant for $7.1 Billion
Roche Holding AG announced on October 23 that it will acquire Telavant Holdings from its majority owner, Roivant Sciences. Under the terms of the agreement, Roche will pay a purchase price of $7.1 billion upfront and a near-term milestone payment of $150 million. Telavant is a biotechnology company that produces drugs to treat inflammatory and fibrotic diseases. It is in the process of developing a new therapy for patients with Crohn’s disease. Telavant was jointly formed by Roivant and Pfizer, Inc. in 2022 to develop and commercialize RVT-3101, a monthly subcutaneously administered anti-TL1A antibody, in the United States and Japan. Roivant currently owns 75% of the issued and... Read More »Schedule a demo
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