Merck Pays $2.75bn To Access VelosBio’s ROR1-Targeting ADCs
Private Biotech Raised $137m In Venture Capital In July
Merck continues its cancer deal streak, purchasing a pipeline of antibody-drug conjugates and bispecific antibodies against receptor tyrosine kinase-like orphan receptor 1 (ROR1).
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German biotech could realize more than $2bn in earnouts under pact with Roivant. Galmed teams with MyBiotics in attempt to optimize clinical response to its Phase III NASH candidate Aramchol.
Plus deals involving Lilly/Daiichi Sankyo, Humianigen/KPM Tech, Telix/China Grand, Appili/Fujifilm, BioInvent/CASI, Osotec/Adel, Neumentum/Nuance, Takeda/HemoShear and Quantum Genomics/Qilu.
Private Company Edition: The average exit from biopharma investments rose from $356.8m in 2019 to $520.6m in 2020, explaining the staggering $12bn invested in the industry during the first half of this year versus $17bn for all of last year. In recent VC deals, VelosBio’s $137m series B was the largest.