Takeda is sharpening its oncology focus amid an R&D revamp. Sun Pharma will acquire Checkpoint Therapeutics and an FDA-approved PD-L1 inhibitor. Japan's Ono Pharmaceutical bought an antisense oligonucleotide from Ionis Pharmaceuticals. Plus more.
1. 'I don't feel we lost momentum': Takeda’s oncology execs sharpen focus after restructuring
Takeda likely won’t do any cell therapy development deals in the near future, even though it’s still advancing an allogeneic gamma delta T-cell therapy in acute myeloid leukemia. Takeda’s oncology leaders Teresa Bitetti and P.K. Morrow, M.D., explained the company’s cancer drug strategy in an interview. In addition, the Japanese pharma is not counting out China as a source for partnering despite geopolitical risks.
2. On the heels of FDA nod for cancer drug, Sun Pharma buys Checkpoint Therapeutics for up to $416M
Sun Pharma has agreed to buy Checkpoint Therapeutics for $355 million upfront, plus a contingent value right that could bring the deal value to about $416 million. The acquisition bolsters Sun’s oncology-dermatology franchise with Unloxcyt, a PD-L1 inhibitor recently approved by the FDA for advanced cutaneous squamous cell carcinoma.
3. Ono pays $280M upfront for Ionis' antisense oligonucleotide for rare blood cancer
Ono Pharmaceutical is paying $280 million upfront to acquire Ionis Pharmaceuticals’ antisense oligonucleotide sapablursen. The drug is designed to reduce the production of the TMPRSS6 protein and is currently in a phase 2 trial for the rare blood condition of polycythemia vera. The pact includes up to $660 million in potential milestones.
4. J&J, Legend to invest $150M in Belgium cell therapy facility as new Carvykti rival looms
Legend Biotech and its partner Johnson & Johnson will invest $150 million to expand their so-called Tech Lane cell therapy facility in Belgium. The plant is slated to begin clinical production of Carvykti in a few weeks. The partners are further expanding manufacturing capacity even as Gilead Sciences and Arcellx’s rival BCMA CAR-T anito-cel is expected to enter the market in 2026.
5. Illumina aims to cut $100M in costs following China import ban
As China bans Illumina’s importation of DNA sequencers in retaliation to new U.S. tariffs, the company is looking to cut $100 million in expenses this year. Last year, Illumina counted about 7% of its sales, or about $300 million, from China. The cost reduction “includes optimizing stock-based compensation and non-labor spending and accelerating certain productivity measures,” Illumina said.
6. Insilico Medicine raises $110M for new trials and robotic helping hands
Hong Kong-based Insilico Medicine has raised $110 million to advance its artificial-intelligence-powered drug design platforms. The series E round, led by Value Partners, will help refine Insilico’s AI models as well as support pivotal clinical trials of the company’s lead drug candidate, rentosertib (ISM001-055), in idiopathic pulmonary fibrosis.
7. Frazier arms Callio with $187M series A to fly Hummingbird's HER2 dual payload ADC to clinic
Singapore’s Hummingbird Bioscience has created a new company together with its investor Frazier Life Sciences and a few other venture capital funds. The new firm, called Callio Therapeutics, has launched with a $187 million series A and a phase 1-ready HER2-targeted dual-payload antibody-drug conjugate licensed from Hummingbird.
Other News of Note:
8. Daiichi taps Nosis to deliver RNA therapies beyond the liver
9. Harbour BioMed launches new obesity biotech on mission to preserve muscle mass
10. Kelun's TROP2 ADC picks up another approval in China
11. Indian contractor Syngene throws down $37M for Emergent's Baltimore biologics plant
12. Nasdaq stock market plans move to 24-hour trading in US
13. Samsung backs Alzheimer’s blood test developer C2N Diagnostics with $10M
14. Astellas, Yaskawa cement deal for robotic cell therapy production joint venture