Q2 2023 Review Of R&D Partnerships For Biopharma Therapeutics & Platforms

by Aug 14, 2023Analysis, Partnership Deals

Biopharma licensing activity in Q2 2023 was the lowest since 2019. Development and commercialization deals for the quarter came in at 110 deals for a total announced value of $28.2 billion with $1.2 billion in total upfront cash and equity. There were notable deals despite the low deal totals: Merck and Proxygen, Eisai and BlissBio, Life Edit and Novo Nordisk, AstraZeneca, and Quell Therapeutics, as well as Astellas and Cullgen.

R&D Partnerships In Biopharma Therapeutics And Platforms

R&D Partnerships - Biopharma Tx and Platforms. DealForma

R&D Partnerships - Biopharma Tx and Platforms. Total Upfront Cash & Equity - Biopharma. DealForma

R&D Partnerships – Biopharma Therapeutics vs. Other Life Sciences

R&D Partnerships - Biopharma Tx vs. Other Life Sciences. Total Announced Deal Values. DealForma

Top Modalities And Technologies

R&D Partnerships, Top Technologies - 2022-23 YTD. DealForma

Analyzing the Top Technologies in 2022-2023 YTD, key modalities driving partnerships and investments include biologics (333 deals, $95.6 billion), small molecules (237 deals, $50.3 billion), cell therapy (59 deals, $21.6 billion), genomics (101 deals, $21.2 billion), and gene therapy (44 deals, $16.1 billion).

Promising R&D Partnerships
    • In April 2023, Merck obtained exclusive, worldwide rights from Proxygen to co-develop and commercialize a molecular glue degrader therapy. The partnership combines Proxygen’s technology with Merck’s expertise. Proxygen receives an undisclosed upfront payment and can earn up to $2.55 billion in milestones and royalties.
    • Eisai and Bliss partnered in May 2023 to co-develop BB-1701, an ADC targeting HER2 for cancer treatment. Eisai has an exclusive, worldwide (excluding China) option for licensing. BlissBio receives upfront payment and option fees, with potential milestone payments of up to $2 billion and royalties.
    • Life Edit granted Novo Nordisk exclusive, worldwide rights in May 2023 to develop up to seven gene editing therapies for rare genetic diseases. Life Edit is eligible for a total upfront and milestones of up to $335 million for the initial two therapies; up to $250 million for the remaining five therapies, plus royalties. Novo Nordisk covers all development costs.
    • AstraZeneca and Quell Therapeutics partnered in June 2023 to develop Treg cell therapies for type 1 diabetes (T1D) and inflammatory bowel disease (IBD). AstraZeneca has an exclusive option to license resulting therapies. Quell will receive $85 million upfront and is eligible for up to $2 billion in milestones, plus royalties.
    • Astellas and Cullgen partnered in June 2023 to discover and co-develop protein degrader therapies for breast cancer and solid tumors. Astellas has an exclusive worldwide option for licensing the therapies, while Cullgen can share costs, profits, and losses. Cullgen received $35 million upfront and is eligible for up to $1.78 billion in milestones, plus royalties.



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Drug Sales Figures

All of this by stage, disease indication, modality, target...

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