January 2022 Top Biopharma Deal: Beam – Pfizer In Vivo Base Editing and Delivery Programs for Rare Diseases
January 2022 Top Biopharma Deal Upfront
Beam research partnership with Pfizer with a license option for up to three therapies for rare genetic diseases
Highlighted Deal Financial Comps
Date Announced:
January 10, 2022
Total Deal Value:
$1,350M
Upfront Cash:
$300M
Upfront Equity:
n/a
Option Payments:
n/a
Total Milestones:
up to $1,050M (dev., reg., and sales)
Royalties:
Undisclosed, per program
Cost & Profit Split:
65%/35% (Pfizer/Beam) if co-dev and co-pro option is exercised
Deal Synopsis
The Asset:
Beam’s proprietary in vivo base editing and LNP delivery technologies for the treatment of rare genetic diseases of the liver, muscle, and CNS
Deal Structure:
Option to License
Partnership Features:
Option to Co-Develop and Co-Promote with Shared Costs
Deal Details:
- Beam signed a three year research partnership with Pfizer to co-develop in vivo base editing programs against three targets using its in vivo base editing and delivery technologies for the treatment of rare genetic diseases of the liver, muscle, and central nervous system with an exclusive, worldwide option to license each program.
- Beam may opt-in to global co-development and co-promotion for one licensed program; exercisable at the end of Phase 1/2 by paying an option exercise fee.
- Beam will receive $300M up front and is eligible to receive up to $1.05B in development, regulatory, and sales milestones, plus royalties per licensed program if not opted for co-development / co-promotion.
- If Beam opts in to co-dev/co-pro, both companies will share cost and profits 65%/35% (Pfizer/Beam).
Last Month:
Congrats to Beam and Pfizer for landing DealForma’s January 2022 Top Biopharma Deal. Last month’s Deal of the Month was Foghorn – Loxo using Gene Traffic Control for new oncology treatments. Read about it here.
DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms.
We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.
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