Quarterly venture investment activity into neurology focused biopharma companies is back to pre-2020 level. This is no surprise given the investment slowdowns across all therapy area and broader life sciences. The drop seems to have stabilized however, and emerging...
September 2022 Top Biopharma Deal: SpringWorks – GSK for Nirogacestat in combination with Blenrep
Highlighted Deal Financial Comps
Total Deal Value:
Cost & Profit Split:
- SpringWorks expanded its 2019 clinical collaboration and granted GSK non-exclusive rights to develop and commercialize its nirogacestat, an oral gamma-secretase inhibitor, in combination with GSK’s Blenrep, an antibody-drug conjugate targeting B-cell maturation antigen for the treatment of multiple myeloma.
- SpringWorks retains full commercial rights to nirogacestat and will be responsible for the global commercialization of nirogacestat.
- SpringWorks will receive a $75M equity investment in shares of common stock at a premium to the 30-day volume-weighted average share price on Sept 2, 2022, and is eligible to receive up to $550M in development and commercial milestones.
Congrats to SpringWorks and GSK for landing DealForma’s September 2022 Top Biopharma Deal. Last month’s Deal of the Month was Sanofi – Innovent for antibody-conjugate drug SAR408701 for the treatment of non-small cell lung cancer (NSCLC). 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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