DEALMAKING OVERVIEW
What has Recent Deal-Making Looked like?
The last 12 months have seen multiple large pharma partnering with biotech to leverage protein homeostasis technologies; molecular glues specifically representing a promising translational opportunity to drug the undruggable.
Novartis and Monte Rosa Therapeutics announced their licensing agreement of phase 1 orally bioavailable asset MRT-6160, Novartis agreeing to advance clinical development in immune-mediated conditions. This deal goes towards the validation of Monte Rosa’s QuEEN discovery engine to design and develop highly selective molecular glues for undruggable targets
Pfizer and Triana announced a strategic collaboration and licensing agreement for Triana’s MGD and E3-ligase pairing platform to identify new MGDs against more targets. Pfizer can pursue further preclinical and clinical development using the platform; Triana receives upfront and milestone payments
Eisai and SEED Therapeutics announced strategic research collaboration where SEED will undertake preclinical discovery activities for selected targets including identification of MGDs, and Eisai will have exclusive rights to develop and commercialise resulting compounds
Novo Nordisk and Neomorph shared licensing pact in which Novo Nordisk will discover, develop and commercialise molecular glue degraders with Neomorph in return for Neomorph’s proprietary glue discovery platform
Takeda and Degron announced a collaboration deal where Degron’s GlueXplorer platform will be used to find new glues for therapeutic targets selected by Takeda. Degron will conduct early work before Takeda takes over
Merck and C4 Therapeutics shared collaboration to develop DACs directed to undisclosed oncology target
Vertex and Orum announced Orum had granted Vertex the rights to use their technology platform to discover and develop DACs
Why do Biotech want to Collaborate with Pharma?
- Improving understanding pharma’s targets of interest, to refine fit and differentiation within the market
- Increasing big pharma’s awareness of drug discovery technology capabilities
- Validating technology platforms as working in the way intended to within the drug development process
- Gaining access to non-dilutive capital to increase the cash flow runway
- Increase translational efficiency from shared resources and risk
What do Pharma Gain from in-Licensing from Biotech?
- Expanding target discovery by unlocking undruggable targets not reachable by small molecule inhibitors, facilitating therapeutic effect through protein-protein interactions brought about by induced proximity
- Molecule Glue Degraders are easily delivered orally, designed, administered, and manufactured
- Promising opportunity for catalytic therapeutic effect with potentially more favorable dosing versus typical small molecule inhibitors which must be repeatedly dosed for maintained therapeutic effect
- Increasing specificity and selectivity to reduce off-target effects and improve safety profiles