Asia Deal Watch: invoX Builds Novel Pipeline Through $161m F-star Acquisition

F-star's novel bispecific technology attracts Sino Biopharma-affiliated acquisition, Shionogi agreement with GARDP brings antibiotic cefiderocol to 135 countries, deal with WinHealth covering Greater China expands Quoin’s licensing of Netherton syndrome candidate to 60 nations, Kyorin and CellGenTech team up in Fabry disease.

Source: Alamy

Scrip regularly covers business development and deal making in the biopharmaceutical industry. Deal Watch is supported by deal intelligence from Biomedtracker.

Sino Biopharm Subsidiary Grows Innovative Pipeline Via F-star Buy

Wholly-owned Sino Biopharmaceutical Limited subsidiary invoX Pharma announced on 23 June it entered into a definitive agreement to acquire Nasdaq-listed F-star Therapeutics, Inc., which is progressing a clinical-stage pipeline in immunotherapy bispecifics with a focus on oncology.

The $7.12 per share transaction, unanimously approved by both companies’ boards, values F-star at approximately $161m and is expected to close in the second half of 2022. invoX will commence a tender offer within the next 10 business days, through which it will need to secure more than 50% of F-star common shares.

F-star, which is based in Cambridge, UK and also has a US office in Cambridge, MA, has developed a proprietary platform around tetravalent (2+2) bispecific antibodies able to simultaneously target two different antigens. It has three assets in the clinic using this technology, along with the STING agonist SB11285, plus multiple undisclosed programs in early development that F-star says are potentially first- and best-in-class candidates.

The most advanced clinical program is the LAG-3/PD-L1 dual inhibitor FS118, in Phase II for rescuing checkpoint inhibitor treatment failure in head and neck cancer and improving outcomes in checkpoint inhibitor-naïve non-small cell lung cancer and diffuse large B-cell lymphoma.

F-star also has a number of existing collaborations, including with AstraZeneca PLC for a STING inhibitor, Denali Therapeutics Inc. for multiple blood-brain barrier programs and Janssen Pharmaceutical Cos. for next-generation bispecifics. (Also see "Deal Watch: J&J Partners On Bispecific Antibody R&D With F-Star, Xencor" - Scrip, 21 Oct, 2021.)

Sino Biopharm, listed in Hong Kong, set up invoX in 2021 in the UK as a platform for international expansion, focusing on R&D and business development activities outside of China with a focus on oncology and respiratory therapeutics. CEO Ben Toogood said the new acquisition aligns with invoX’s strategy of becoming a fully integrated operation with an innovative pipeline.

Dr. Reddy’s Buys Injectables Portfolio From Eton

Hyderabad, India-based Dr. Reddy's Laboratories Ltd. announced on 24 June that it acquired a portfolio of branded and generic injectable products from Eton Pharmaceuticals, Inc. in Deer Park, IL. Eton received $5m up front and may earn contingent payments totaling up to $45m.

The acquired portfolio includes nine separate combinations of strengths and presentations of Biorphen (phenylephrine hydrocholoride) and Rezipres (ephedrine hydrochloride), and one first-to-file approved ANDA in the US for cysteine hydrochloride, an additive used in parenteral nutrition for newborn infants. One strength each of Biorphen, which treats hypotension due to vasodilation caused by anesthesia, and Rezipres, also for hypotension, are commercially available in the US.

Dr. Reddy’s said the assets will complement its US institutional business with limited-competition injectable products. The company also noted that access to some critical care products has been a concern for hospitals and health systems, but by purchasing the Eton assets Dr. Reddy’s strengthens its ability to provide these products in North America and grow the business.

The acquired products had a $174m addressable market, according to IQVIA Holdings Inc., during the calendar year ended April 2022.

Shionogi, GARDP License To Provide Cefiderocol In 135 Countries

Shionogi & Co. Ltd. and the Global Antibiotic Research and Development Partnership (GARDP) announced a license and technology transfer agreement on 15 June for cefiderocol, an antibiotic for serious Gram-negative bacterial infections. The two also launched a collaboration agreement with the Clinton Health Access Initiative (CHAI) for the drug’s distribution, including hospital-based stewardship programs to ensure appropriate use of the antibiotic.

GARDP will manufacture and commercialize cefiderocol through sub-licensees in 135 lower middle- and upper middle-income countries, to expand their access to novel antibiotics. Shionogi said the agreement is the first covering an antibiotic to treat serious bacterial infections “between a pharmaceutical company and a non-profit organization driven by public health priorities.”

Quoin Licenses Greater China Rights For Two Drugs To WinHealth

Rare disease-focused Quoin Pharmaceuticals, Ltd. inked a license and distribution agreement on 15 June with Hong Kong-based Winhealth Pharma Group, giving the latter rights in greater China for its lead product candidate, QRX003 for Netherton syndrome, as well as for a second pipeline product, QRX004 for epidermolysis bullosa. The deal is the seventh signed by Quoin since last November to confer regional commercial rights for QRX003 to various companies. (Also see "Deal Watch: Amgen Taps Plexium's Expertise In Targeted Protein Degradation" - Scrip, 8 Feb, 2022.)

The agreement will enable Quoin to provide health care professionals and patients in greater China access to its products upon receiving regulatory approval. With this agreement, license and distribution partnerships have now been established for QRX003 in nearly 60 countries globally. Quoin received US Food and Drug Administration clearance of its investigational new drug (IND) application in April and expects to initiate clinical testing during the second quarter of 2022.

Kyorin To Use CellGenTech’s Platform In Fabry Disease

Kyorin Pharmaceutical Co., Ltd. licensed rights on 17 June to develop and commercialize a new product in the treatment of Fabry disease using genetically modified human adipocytes (GMACs) and related technology from CellGenTech Inc.

The Japanese pharma will pay CellGenTech an undisclosed upfront payment, development and commercialization milestone fees and tiered sales royalties. Kyorin also acquired the option to develop and commercialize GMACs for another undisclosed disease.

ToolGen, mCureX Team On MRNA Approach To Rare Ophthalmic Diseases

OliX Pharmaceuticals, Inc. subsidiary mCureX Therapeutics, Inc. agreed on 15 June to a joint research pact with ToolGen Inc. to advance the development of gene therapy for rare eye diseases, leveraging mCureX’s mRNA technology.

The two South Korean firms have been in active discussions since their signing of memorandums of understanding in August 2021, planning to pair mCureX’s expertise in RNAi vaccines and therapeutics with ToolGen’s capabilities in gene editing. The partners now say they plan to conduct gene corrections in ocular tissues using mCureX's mRNA technology and ToolGen's CRISPR/Cas9 gene-editing technology for the treatment of rare hereditary eye diseases.

Otsuka And xFOREST Partner On Drugs Targeting RNA Structures

Japanese biopharmas Otsuka Pharmaceutical Co. Ltd. and xFOREST Therapeutics Co., Ltd. entered a collaboration on 13 June to create RNA structure-targeted drugs for multiple diseases. xForest brings to the partnership platform technology that integrates parallel biochemical-analysis systems of RNA structures and in silico analysis pipelines. This technology has enabled the search for specific RNA binders, empowering the discovery of RNA-targeting drugs, xFOREST said.

The company will provide Otsuka with access to its platform for the discovery of systemic, small-molecule candidates that target RNA structures. Otsuka obtains exclusive rights to develop and commercialize candidates identified during the collaboration, with xFOREST getting an upfront payment with the potential for development milestone fees and sales royalties.

Genuv, Nanocarry Combine Technologies For Brain Cancer Treatment

South Korea’s Genuv Inc. and Israel’s Nanocarry Therapeutics announced a collaboration on 6 June to develop GNUV201, Genuv’s preclinical anti-PD-1 monoclonal antibody. Nanocarry specializes in neuro-oncology therapeutics that are able to cross the blood-brain barrier.

The collaboration aims to deliver GNUV201 to treat metastatic tumors in the brain from non-small cell lung cancer using Nanocarry’s AxS nanoparticle-based drug delivery technology. The partners have applied for a grant from the Korea-Israel Industrial R&D Foundation to support an initial feasibility study, including in vitro and in vivo studies, to explore targeting the brain with antibodies to treat tumors.

GNUV201 derives from Genuv’s Shine Mouse antibody development platform, which it says can produce antibodies with powerful cross-reactivity to human and mouse PD-1 and with greater diversity compared to conventional mouse antibodies. Nanocarry’s AxS platform uses bioengineered gold nanoparticles (GNPs) that can be modified to deliver biologics safely and effectively to the brain.

GNPs offer strong binding affinity, which allows for surface conjugation with various peptides, proteins, antibodies and other biomolecules, the Israeli firm says. Nanocarry’s initial focus is building a pipeline for brain metastases of breast and lung cancers.

Upstream Gets TSLP-Inhibiting Antibody Candidate From Astellas

While announcing a $200m series A round, US start-up Upstream Bio also revealed on 2 June that it in-licensed its first drug candidate, a monoclonal antibody, from Astellas Pharma, Inc. (Also see "Upstream Launches With $200m To Buy, Develop Drugs For Immune-Mediated Diseases" - Scrip, 2 Jun, 2022.) UPB-101 inhibits signaling of TSLP, a validated target positioned upstream of multiple signaling cascades that affect a variety of immune cells pivotal to many inflammatory diseases, Upstream said.

The company initially plans to establish proof-of-concept in asthma, but also believes the candidate could offer potential in the treatment of additional inflammatory diseases. Further details of the licensing were not revealed.

Stay tuned for the next edition of Asia Deal Watch. You can read more about other deals that have been covered in depth by Scrip and Generics Bulletin in recent days below:

(Also see "Time To Shop? SK Sees ‘Biggest Opportunity’ For Biotech Investment" - Scrip, 21 Jun, 2022.)

At a recent forum in Seoul, SK Group unveiled its biotech investment strategy and noted the next few years could present multiple major opportunities for Korean biotechs.