AstraZeneca and Daiichi Sankyo's TROP2 antibody-drug conjugate returned a concerning safety message. Moderna reportedly plans to invest up to $1 billion in China. Takeda expanded its antibody partnership with F-Star Therapeutics with a new deal potentially worth $1 billion. And more.
1. AstraZeneca stock slides as pivotal lung cancer readout on Daiichi-partnered ADC spooks investors
AstraZeneca and Daiichi Sankyo’s datopotamab deruxtecan has been considered to be the next big antibody-drug conjugate program. But the TROP2-targeted drug scared investors with a report of “some” patient deaths from its first phase 3 trial. The study itself hit its goal by showing the drug improved progression-free survival over standard chemotherapy in second-line non-small cell lung cancer.
2. Moderna strikes deal worth up to $1B to develop, produce mRNA drugs in China: reports
Moderna may not have an mRNA COVID vaccine approved in China, but the company still decided to make investment pledges there. Moderna has inked a memorandum of understanding and a land collaboration agreement to potentially develop and produce mRNA medicines in China. The deal could be worth up to $1 billion, local news outlet Yicai reported.
3. Takeda adds another F-Star collab to constellation, this time for $1B in biobucks
Takeda has built on a 2021 bispecific antibody collaboration with F-Star Therapeutics with a new deal. The new deal could be worth $1 billion if all milestones are met, and the two companies will work together on antibodies for new immuno-oncology targets. F-Star was recently bought out by China’s Sino Biopharmaceutical after a long regulatory delay.
4. Samsung Biologics, Pfizer expand biosimilar production partnership with pair of deals worth $897M
Pfizer has added $486 million to two biosimilar production agreements with Samsung Biologics, bringing the total of the deals to $897 million. The expansion comes as Pfizer is set to launch its biosimilar to AbbVie’s Humira. The deals boosted the value of Samsung’s CDMO contracts this year to $1.48 billion.
5. Tessa Therapeutics dissolves after raising more than $200M
Singapore-based cell therapy biotech Tessa Therapeutics has shut down, according to two sources that worked with the company. The closure came a bit over a year after the company raised $126 million in a series A round. The company was working around targeting CD30-expressing cancer cells.
6. Fujifilm Diosynth taps company veteran Lars Petersen to drive CDMO toward $1.4B in annual revenue
Fujifilm Diosynth Biotechnologies has elevated Lars Petersen, head of the CDMO’s large-scale strategic business unit, to succeed Martin Meeson as CEO. Petersen oversaw a $6.2 billion expansion at Fujifilm’s facilities in Hillerød, Denmark—where he also served as chief operating officer—and Holly Springs, North Carolina. The CDMO is targeting a revenue goal of 200 billion yen ($1.4 billion) by the fiscal year ending in March 2025.
Other News of Note
7. Chinese official promises foreign pharmas ‘more development opportunities’ (Reuters)
8. Aslan hopes fewer side effects can catapult atopic dermatitis med over Dupixent after mixed readout
9. Brii hands VBI a lifeline, stumping up $15M for global rights to hepatitis B program and more
10. SK bioscience inks deal to support vaccine manufacturing in Thailand