Our quarterly overview of R&D partnerships in biopharma therapeutics and platforms provides a detailed summary of significant deals completed during Q2 2024. In May 2024, AC Immune granted Takeda an option to license ACI-24.060, an anti-abeta immunotherapy for Alzheimer’s disease, with AC Immune receiving $100 million upfront and up to $2.1 billion in potential payments. In April 2024, Repertoire Immune Medicines and Bristol Myers Squibb (BMS) entered a deal to develop and commercialize tolerizing vaccines for autoimmune diseases, valued at up to $1.8 billion. Ascidian partnered with Roche in June 2024 to develop RNA exon editing therapeutics for neurological conditions, with the deal worth up to $1.8 billion. In May 2024, MediLink granted BioNTech an option to license its TMALIN platform for multiple targets, with potential earnings of $1.8 billion. Lastly, in April 2024, Ipsen and Skyhawk Therapeutics established a research partnership to develop RNA-modulating small molecule therapies for rare neurological diseases. Skyhawk is eligible for up to $1.8 billion in total payments.
Biopharma Tx and Platform Companies R&D Partnerships
During H1 2024, biopharma and platform companies saw 243 R&D partnerships. In Q2 alone, 117 deals were struck, amounting to $38.6 billion, including $2.3 billion in upfront cash and equity.
In Q1 2024, 126 deals totaled $36.4 billion, with $2.2 billion in upfront payments. These partnerships reached $75 billion, with $4.4 billion paid upfront.
Biopharma Tx vs. Other Technologies Group Subsector R&D Partnerships
During H1 2024, R&D partnerships in the biopharma sector outpaced other technology groups. In Q2, 80 partnerships in therapeutic platforms and biopharma were valued at $27.7 billion, while Q1 saw 99 partnerships worth $28.8 billion. The diagnostics, sequencing, omics, and tools sector recorded 27 partnerships in Q2 worth $6.8 billion and 20 partnerships in Q1 worth $6.3 billion.
Manufacturing technology and others had 8 deals in Q2 worth $4.1 billion and 7 in Q1 worth $1.2 billion. This highlights a total deal value of $56.5 billion in therapeutic platforms and biopharma, $13.1 billion in diagnostics, and $400 million in manufacturing tech and others.
Top Modalities in Biopharma R&D Partnerships – 2023-24 YTD
From 2023 to Q2 2024, biopharma R&D partnerships have predominantly focused on the following key modalities.
- Biologics, Antibodies, DNA, RNA, Proteins: 257 deals worth $122.8 billion, $9.5 billion upfront.
- Small Molecules: 194 deals valued at $57.2 billion, $3.7 billion upfront.
- Genomics, Sequencing, Screening: 76 partnerships totaling $22.5 billion, $400 million upfront.
- Gene Therapy and Vectors: 29 deals worth $11.0 billion.
- Cell Therapy: 52 deals totaling $10.3 billion, $1.0 billion upfront.
- Gene Editing/CRISPR: 21 deals valued at $6.7 billion, $400 million upfront.
- Immunotherapy: 21 deals totaling $2.7 billion, no upfront payment.
Overall, 650 deals accumulated $233.2 billion, with $15.6 billion in upfront payments.
Top Biopharma Therapeutics and Platforms R&D Partnerships in Q2 2024
AC Immune License Option Deal with Takeda – May 2024
AC Immune granted Takeda the option to license ACI-24.060, an anti-abeta immunotherapy candidate for Alzheimer’s disease. Under this agreement, AC Immune will complete the ABATE trial, while Takeda will take over and fund all clinical development, regulatory, and commercialization efforts. AC Immune will receive an upfront payment of $100 million and is eligible for up to $2.1 billion, including development, commercial, option exercise fees, and double-digit royalties.
Repertoire Immune Development Deal with BMS – April 2024
Repertoire Immune Medicines granted Bristol Myers Squibb (BMS) exclusive, worldwide rights to develop and commercialize tolerizing vaccines for up to three autoimmune diseases. Utilizing Repertoire’s DECODE T cell receptor (TCR)-epitope discovery platform and lipid nanoparticle delivery technology, Repertoire will manage development activities up to candidate nomination, while BMS will oversee further development. Repertoire will receive an upfront payment of $65 million and is eligible for up to $1.8 billion in development, regulatory, and commercial milestones.
Ascidian Therapeutics Development and Commercialization Deal with Roche – June 2024
Ascidian granted Roche exclusive, worldwide rights to develop and commercialize RNA exon editing therapeutics for undisclosed neurological indications. Leveraging Ascidian’s RNA exon editing platform and Roche’s expertise in neurological diseases, Ascidian will receive an upfront payment of $42 million and is eligible for up to $1.8 billion in research, clinical, and commercial milestone payments, along with undisclosed royalties.
MediLink License Option Deal with BioNTech – May 2024
MediLink granted BioNTech an option to license its TMALIN platform for several targets chosen by BioNTech. MediLink retains the right of first negotiation for future antibody-drug conjugate (ADC) candidates if BioNTech licenses or assigns these rights exclusively to the Mainland China market, including Hong Kong SAR, Macau SAR, or Taiwan. MediLink will receive an upfront payment of $25 million and is eligible for up to $1.8 billion in development, regulatory, and sales milestones.
Ipsen Research Partnership with Skyhawk Therapeutics – April 2024
Ipsen entered a research partnership with Skyhawk Therapeutics to develop 2 small molecule therapies targeting RNA modulation for rare neurological diseases. Ipsen has an exclusive, worldwide option to license the development and commercialization of these therapies. Skyhawk is eligible for up to $1.8 billion, covering upfront payments, development, regulatory, and commercial milestones.
