Cortellis Deals landscape

During the 2nd quarter of 2016, Cortellis Competitive Intelligence had 1014 new deals added as part of its ongoing coverage of pharmaceutical licensing activity. This was on par with the last quarter (1011) and a substantial increase on the same quarter for the previous one year (659). This article will focus on highlighting a number of the most valuable and notable deals forged during the quarter, as well as a selection of deals from some of the most prolific deal makers. An update on milestone, options and terminated deals of significance will also be presented, along with an early outlook on the next quarter’s pharmaceutical licensing activity.

High-value deals: worth $0.5 billion or more
Approximately 43 high-value new partnerships, worth in excess of $100 million were entered into during the 2nd quarter of 2016. Of these, 13 could potentially generate $0.5 billion or more in revenues for their primary collaborators.

Allergan to drive neurological portfolio with $3.3B Heptares assets
Allergan (formerly Actavis) expanded its neurological portfolio with an exclusive worldwide interest in Heptares’ muscarinic receptor agonists including muscarinic M4 agonists, dual muscarinic M1/M4 agonists and phase I M1 agonists HTL-9936 and HTL-18318 for neurological disorders including Alzheimer’s disease. Heptares receives $125
million upfront, $50 million to advance candidates to phase II, up to approximately $665 million in development milestones and up to approximately $2.5 billion linked to sales plus double-digit royalties.

Regeneron to use Intellia’s gene editing technology for liver/non-liver treatments for $3.3B
A six-year license was formed between Regeneron and Intellia for gene edited therapeutics using CRISPR/Cas technology against ten liver including transthyretin amyloidosis and non-liver targets. Intellia gains $75 million upfront, up to $50 million in equity financing, up to $25 million (development), $110 million (regulatory) and $185 million (sales) milestones per target plus royalties.

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