Deals and Financings

Beijing’s BeiGene (NSDQ: BGNE; HK: 06160; SHA: 688235) acquired global rights to a preclinical novel cyclin-dependent kinase 2 (CDK2) inhibitor from Boston’s Ensem Therapeutics in a $1.3 billion agreement (see story). Ensem says it discovers cryptic pockets of traditionally undruggable targets to discover candidates for difficult-to-drug targets. CDK2, which is critical to cell cycle regulation, is often hyper-activated in cancers, causing abnormal cancer cell growth. There are no approved CDK2 therapies anywhere. BeiGene said the candidate, ETX-197, is close to filing an IND to treat some breast cancers. Ensem will receive an upfront payment plus milestones and royalties, though specific details were not disclosed. 

Shanghai Usynova Biopharma out-licensed global rights for its clinical stage small molecule KRASG12D inhibitor to AstraZeneca in a deal worth up to $419 million (see story). KRAS mutations occur in many cancer types, but KRASG12D is the most common mutation of the group, appearing in 26% of all KRAS mutations. It is prevalent in pancreatic cancer, colorectal cancer, non-small cell lung cancer, among others. Currently, there are no approved therapies that target KRASG12D. Usynova received $24 million upfront and will be eligible for up to $396 million in milestones, plus royalties. 

Nanjing Simcere Biopharma (HK: 2096) acquired Greater China rights to an interleukin-4 receptor alpha (IL-4Rα) inhibitor for atopic dermatitis and asthma from Connect Biopharma in an agreement worth up to $141 million (see story). Simcere will pay $21 million upfront and up to $120 million in milestones. Connect, which is headquartered in Taicang and San Diego, also announced that the company plans to file an NDA in China early next year. Simcere will take over responsibility for rademikibart in Greater China from two Connect subsidiaries: Connect Biopharma Hong Kong and Suzhou Connect Biopharma.

Myricx Bio, a UK biotech, licensed rights to a proprietary antibody that was discovered by Shanghai-based WuXi Biologics (HK: 2269) using the technology platforms that support its CDMDO operations (see story). Myriex is developing a novel class of antibody-drug conjugate (ADC) payloads based on N-Myristoyltransferase inhibition (NMTi), a differentiated ADC profile that includes microtubule and topoisomerase inhibitors. Myricx intends to advance the ADC through preclinical and clinical development for difficult-to-treat solid tumors. WuXi Bio will receive an upfront payment and be eligible for milestone payments, as well as royalties on net sales. 

Chengdu Haisco Pharma out-licensed global (ex-Greater China) rights for its dipeptidyl peptidase 1 (DPP1) inhibitor, a proposed therapy for bronchiectasis, to Chiesi Farmaceutici of Parmi, Italy (see story). HSK31858 is an oral, highly selective small molecule DPP1 inhibitor developed by Haisco with the potential to be an anti-inflammatory agent in bronchiectasis.  Haisco is currently conducting a China Phase II trial of HSK31858 for the indication. Chiesi will have rights to develop, manufacture and commercialize HSK31858 outside greater China. The deal calls for an upfront payment, milestones and royalties, though specific amounts were not disclosed. 

Suzhou Porton Advanced, a gene and cell therapy CDMO, formed a partnership with Chengdu’s Ascle Therapeutics to develop NK cells and gene and cell therapies for cancer prevention, beauty and anti-aging (see story). Ascle’s lead candidate, ASC101, is a CAR-NK cell therapy that targets ROBO1, which it expects will have efficacy in 80% of solid tumors. In a preliminary IIT trial, ASC101 demonstrated a disease control rate of 76.5%. Ascle develops NK/CAR-NK anti-tumor immune cell therapy drugs. Porton Advanced will provide development, production and regulatory services for Ascle's NK cell project. Terms of the agreement were not disclosed. 

Disclosure: none.