AZ Bets Big On ADCs As It Inks Second, $6bn Deal With Daiichi
$1bn Upfront To Secure New Asset
Following their original March 2019 tie-up for an oncology antibody-drug conjugate, Daiichi Sankyo and AstraZeneca have entered into a new global deal worth up to $6bn for a second novel asset from the Japanese firm, with potential in breast, lung and other cancers.
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During Q3 biopharmas reached $41.7bn in merger and acquisition value and drew in $44.4bn in potential deal value from alliances. Device company M&A values reached $17.9bn while in vitro diagnostic firms and research tools players completed M&A activity that totaled $8.2bn.
HER3 may be a new target for anticancer antibody-drug conjugates; clinical investigators posted promising early stage clinical results with Daiichi Sankyo’s HER3 targeting antibody-drug conjugate, patritumab deruxtecan, at the recent ESMO virtual meeting.
After a slow start marked by product withdrawals and toxicity, recent deal-making activity has brought antibody-drug conjugates back from obscurity. But what has changed?