Venture Funding Deals: Korean D&D Raises $137.1m For Subsidiary Model
Executive Summary
Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Venture Funding Deals column provides a comprehensive monthly review of emerging biopharmaceutical companies that have received venture funding. This month’s column covers deals announced in July and August.
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Deals in Depth: February 2024
Just one $1bn+ alliance was penned in February, compared to ten in the previous month. In the top alliance by deal value, Neomorph and Novo Nordisk entered into a potential $1.46bn agreement for the discovery, development, and commercialization of molecular glue degraders (MGDs) for cardiometabolic and rare diseases. The collaboration brings together Novo Nordisk's expertise in those disease areas with Neomorph's MGD discovery platform. Neomorph will lead discovery and preclinical activities against selected targets with Novo Nordisk having the right to exclusively pursue further clinical development and commercialization of the compounds.
Deals in Depth: January 2024
Ten $1bn+ alliances were penned in January. In the top alliance by deal value, Shanghai Argo Biopharmaceutical entered into exclusive collaboration with Novartis Pharma for two undisclosed Argo cardiovascular disease programs, one in Phase I and another in Phase I/IIa. Novartis gets an exclusive global license to develop and commercialize the Phase I program and also receives an option to potentially license compounds directed against up to two additional targets. For the Phase I/IIa program, Novartis gets an exclusive license worldwide except in Greater China. The deal could be worth up to $4.17bn for Argo.