A couple biotech deals on the books being reported this morning.
Firstly, Anchor Therapeutics has signed a deal valued at up to $480 M with J&J's Ortho group for access to its pepducin technology for the identifying G protein coupled receptor-targeted therapeutic compounds in oncology applications. This includes Anchor's gpr39 metabolic therapy. Anchor's technology appears to be in hot demand. There are already GPCR drugs on the market that account for more than $40 B in annual sales. Anchor's technology promised to acccess more of these targets and in a different way than samll molecules. Earlier this year Anchor signed a pact with Novartis valued at up to $200 M. The J&J deal calls for an undisclosed upfront payment, research funding, and milestones. See Fierce Biotech and Xconomy stories.
Secondly, Acceleron signed a $498 M deal with Shire for its lead therapy, ACE-031. Again, the deal is structured as a $45 M upfront payment with milestones that could reach as high as $453 M. The deal would give Shire international marketing rights outside the USA. ACE-031 is in Phase IIb trials for Duchenne's Muscular Dystrophy. It acts as an inhibitor with the activin receptor to stimulate muscle growth and build strength. There is no current approved therapy for the treatment of DMD so it is a very high unmet medical need. Shire see it as a good fit to add to its orphan drug portfolio. See Fierce Biotech and Xconomy.
Posted by Bruce Lehr September 9th 2010.