Biotech, pharma, and medtech R&D partnerships in Q3 2023 settled to pre-2020 levels on total deal announced values but again on fewer deals. Major deal announcements in Q3 included Pfizer / Flagship Pioneering, Alnylam / Roche, Nanobiotix / Janssen, Orionis / Genentech, and Nurix / Seagen. The third quarter saw 104 R&D biopharma partnership deals, including development and commercialization license deals, joint ventures, and license option deals. These totaled $32.1 billion in total announced deal value with upfront cash and equity investments reaching $1.3 billion. This lines up with Q2 2023, where 106 deals totaled $29.5 billion, and upfront investments also amounted to $1.3 billion.
The first three quarters of 2023 saw 338 R&D partnerships for a combined announced deal value of $92.7 billion and $4.6 billion in upfront cash and equity.
R&D Partnerships For The Top Biopharma Technologies Through Q3 2023
Biologics, mAbs, ADCs, and oligo platforms continued to lead deal flow in 2023. There were $37.4 billion in deal headline values announced in 2023 as of the third quarter. This is no surprise as biologics grouped here include recent ADC and targeted protein degradation technology. Look out for an upcoming deep dive on ADC and targeted protein degradation deals (hint: DealForma customers can pull up the data now). What is also interesting is the level of activity in gene therapy and ‘omics platforms for discovery. Each of those areas saw $8.0 billion or more in total headline deal values.
R&D Partnerships For The Top Biopharma Therapy Areas Through Q3 2023
Cancer always leads with the most deal activity leading to the highest total of announced deal values. There were $40.5 billion in total announced deals for cancer indications through the third quarter of 2023. Neurology came in with $14.4 billion in total announced deal value for licensing deals, including CNS and psychiatric conditions.
Notable Biopharma R&D Partnerships and Licensing Deals
Pfizer / Flagship Pioneering (July 2023)
Pfizer partnered with Flagship Pioneering in a research collaboration, obtaining exclusive global rights to license 10 therapeutics developed by Flagship’s bioplatform companies for undisclosed medical conditions. The partnerships involve a $50 million initial investment from both parties, and Flagship may receive up to $700 million in development and commercial milestones per program, plus undisclosed royalties.
Alnylam / Roche (July 2023)
Alnylam granted Roche exclusive, worldwide rights to develop zilebesiran for treating hypertension. Alnylam leads the joint clinical development plan, sharing development costs with Roche. The agreement includes an upfront payment of $310 million, potential milestones of up to $2.49 billion, and profit sharing in the U.S., with royalties outside the U.S.
Nanobiotix / Janssen (July 2023)
Nanobiotix granted Janssen exclusive, worldwide rights (excluding China and other Asian territories) to develop NBTXR3, a radio enhancer for treating solid tumors. Nanobiotix will maintain study control, while Janssen leads Phase II trials for stage 3 lung cancer patients. Nanobiotix will receive $90 million in upfront cash and equity and potential milestones totaling up to $2.67 billion.
Orionis / Genentech (September 2023)
Orionis granted Genentech exclusive, worldwide rights to develop and commercialize small molecule monovalent glue therapies targeting neurodegeneration and cancer. Orionis leads compound discovery and Genentech takes charge of subsequent activities. The agreement includes an upfront payment of $47 million, potential milestones of up to $2 billion, and tiered royalties.
Nurix / Seagen (September 2023)
Nurix granted Seagen rights to develop and commercialize multiple cancer therapies using Nurix’s targeted protein degradation technology. This collaboration focuses on creating Degrader-Antibody Conjugates (DACs) for selective cancer cell elimination. Nurix will receive $60 million up front, up to $3.4 billion in milestones, and undisclosed royalties. The partnership allows for U.S. profit sharing and co-promotion on two products.