Our H2 2024 autoimmune review features a surge in R&D partnerships, M&As, and venture funding, with pivotal deals accelerating across high-need therapeutic areas.
Monte Rosa partnered with Novartis, granting global rights for MRT-6160, a Phase I small molecule targeting VAV1 MGDs in autoimmune and cancer, with $150 million upfront and up to $2.1 billion in milestones. Similarly, Chimagen teamed with GSK for CMG-1A46, a dual CD19/CD20 T cell engager for lupus, securing $300 million upfront and $550 million in milestones. Genor Biopharma licensed GB-261 to TRC 2004 for autoimmune treatment, involving up to $443 million in milestones.
On M&A’s REGiMMUNE merged with Kiji Therapeutics to bolster its pipeline targeting autoimmune, cancer, GvHD, and IBD, eyeing a 2025 Taiwan IPO. Eli Lilly acquired Morphic for $3.2 billion, boosting its IBD portfolio with Phase II MORF-057.
On the venture side, Candid Therapeutics raised $370 million to develop TCE antibodies, while Navigator Medicines secured $100 million to advance NAV-240 for inflammatory diseases. Jade Biosciences closed $80 million to develop autoimmune therapies, marking the latest spinout from Paragon Therapeutics.
Autoimmune R&D Partnerships by Tech Grouping – H2 2024
During H2 2024, autoimmune R&D partnerships spanned diverse technologies, focusing on small molecules, immunotherapy, and biologics. Small molecules led with 2 deals totaling $2.3 billion, including $150 million in upfront cash and equity. Immunotherapy secured a single high value deal worth $850 million, featuring the most significant upfront payment of $300 million. Biologics, covering antibodies, DNA, RNA, and proteins, closed 3 deals with a combined value of $556 million and $8 million upfront. The 6 partnerships totaled $3.7 billion in total deal value and $458 million in upfront payments.
Top 3 Autoimmune R&D Partnerships in H2 2024
Monte Rosa development and commercialization deal with Novartis – October 2024
Monte Rosa granted Novartis exclusive global rights to develop and commercialize MRT-6160, a Phase I small molecule targeting VAV1 MGDs for autoimmune, cancer, and inflammatory diseases. The company will complete the Phase I trial and co-fund Phase III, while Novartis will lead from Phase II onward. The deal includes a $150 million upfront payment, up to $2.1 billion in milestones ($1.5 billion tied to regulatory approvals), tiered royalties outside the US, and 30% profit-sharing for MRT-6160 in the US.
Chimagen development and commercialization deal with GSK – October 2024
Chimagen granted GSK exclusive global rights to develop and commercialize CMG-1A46, a dual CD19/CD20 T cell engager for B cell-driven autoimmune diseases like lupus. CMG-1A46 is in Phase I trials for leukemia and lymphoma, with GSK set to initiate Phase I trials for lupus in 2025. The deal includes a $300 million upfront payment and up to $550 million in development and commercialization milestones.
Genor Biopharma development and commercialization deal with TRC – August 2024
Genor Biopharma granted TRC exclusive rights (excluding Greater China) to develop and commercialize GB-261, a Phase II CD20/CD3 bispecific T cell engager for autoimmune diseases. The deal includes a multi-million-dollar upfront payment (cash and equity), up to $443 million in milestones, and tiered royalties ranging from single to double digits.
Autoimmune M&A by Tech Grouping – H2 2024
During H2 2024, small molecules dominated autoimmune M&A with deals worth $3.2 billion. Notably, valuations excluded contingent payments, indicating straight cash transactions.
Top 2 Autoimmune M&A in H2 2024
REGiMMUNE merging with Kiji Therapeutics – October 2024
REGiMMUNE and Kiji Therapeutics have merged to form REGiMMUNE/Kiji TX, combining their platforms in small molecules, antibodies, cell, and gene therapies. The merged pipeline includes multiple candidates, such as RGI-2001 and KJ-01, targeting autoimmune diseases, cancer, GvHD, IBD, and psoriasis, focusing on regulatory T cell (Treg) therapies. The merger strengthens their pipeline and positions the company for a potential IPO in Taiwan by mid-2025. Financials were not disclosed.
Eli Lilly acquiring Morphic – July 2024
Eli Lilly acquired Morphic for $3.2 billion, paying $57 per share in cash, a 79% premium. Morphic’s pipeline includes Phase II MORF-057, an A4B7 integrin inhibitor for IBD, and preclinical programs targeting myelofibrosis, solid tumors, pulmonary hypertension, and Crohn’s disease. The deal closed in August 2024.
Autoimmune Venture Funding by Tech Grouping – H2 2024
During H2 2024, autoimmune ventures raised $695 million across 6 rounds, primarily targeting biologics such as antibodies, DNA, RNA, and proteins.
Top 3 Autoimmune Venture in H2 2024
Candid Therapeutics – Series Unspecified – $370M – September 2024
Candid Therapeutics, focusing on transformative therapies for autoimmune diseases, raised $370 million in a funding round led by Venrock Healthcare, Fairmount, TCGX, and venBio Partners, with participation from top healthcare investors like Fidelity, OrbiMed, and Franklin Templeton. The company is advancing T-cell engager (TCE) antibodies to target specific B lymphocyte populations. Candid acquired Vignette Bio and TRC-2004 through a three-way merger and multi-step financing to accelerate development and establish leadership in TCE therapies.
Navigator Medicines – Series A – $100M – August 2024
Navigator Medicines secured $100 million in series A funding, co-led by RA Capital and Forbion, and in-licensed NAV-240 and an OX40L-targeted portfolio from IMBiologics Corp. NAV-240, a clinical-stage bispecific antibody targeting OX40L and TNFα, aims to enhance efficacy in treating inflammatory diseases by addressing dual signaling pathways. This positions Navigator to advance therapies for complex diseases with high unmet needs.
Jade Biosciences – Seed – $80M – August 2024
Jade Biosciences secured $80 million in funding, led by Fairmount and Venrock Healthcare, with contributions from Deep Track Capital, Franklin Templeton, and others. The funds will advance targeted therapies for autoimmune diseases. Jade is the fourth company launched from Paragon Therapeutics’ portfolio, which accelerates biologics development through new ventures and strategic partnerships.
Also check out R&D Partnerships, M&A, and Ventures by Tech – Autoimmune – H1 2024
