Novartis bought an mRNA-coded autoimmune T-cell engager candidate for up to $7.8 billion, as Shionogi offered $2 billion to acquire rare disease drugmaker IntraBio. ArriVent's EGFR inhibitor flunked a first-line phase 3 test in lung cancer. And more.
1. Novartis pens $7.8B deal for Abogen's in vivo autoimmune T-cell engager
Novartis agreed to pay China’s Abogen Biosciences $575 million up front for an mRNA-encoded CD19xCD3 T-cell engager, plus an exclusive option to license several other assets. The Swiss pharma is focusing the early clinical-stage candidate, called ABO2203, on autoimmune diseases. The deal also includes up to $7.2 billion in milestones.
2. Shionogi strikes $2B deal for IntraBio hot off FDA label expansion
Shionogi is shelling out $2 billion to acquire IntraBio, developer of the rare disease drug Aqneursa, which is approved in ataxia-telangiectasia and Niemann-Pick disease Type C and is under phase 3 development for CACNA1A disorders. The deal comes a few months after the Japanese pharma paid $2.5 billion for Tanabe Pharma’s amyotrophic lateral sclerosis med Radicava.
3. ArriVent’s phase 3 lung cancer trial flops, sinking stock
ArriVent BioPharma suffered a major setback as a phase 3 study of its firmonertinib, licensed from China’s Allist Pharma, missed its primary endpoint of progression-free survival in first-line non-small cell lung cancer harboring EGFR exon 20 insertion mutations. While the endpoint was measured by blinded central review, investigator’s analysis showed a bigger benefit for firmonertinib.
4. TCGX launches $600M fund to bankroll Asian biotechs
TCGX has launched TCGX Asia Life Sciences Fund I with $600 million to invest in Asian biotechs at various stages of development. Dandan Dong, who was chief business officer at ArriVent before joining TCGX in 2024, will oversee the fund’s activities as a managing partner. TCGX, which was behind such Western biotechs as Carmot Therapeutics and RayzeBio before their Big Pharma buyouts, is also opening offices in Shanghai and Hong Kong.
Other News of Note:
5. Teva, Samsung Bioepis deepen bonds in pact for up to 6 new biosimilars
6. Ono pays $80M for regional rights to trio of Biohaven IgG degraders, including phase 3 Grave’s asset