A roundup of news from Amgen/Amazon, Merck & Co./Caraway Therapeutics, Bristol Myers Squibb/Avidity Biosciences, and Astellas/Propella Therapeutics. Highlights below.  

Manufacturing News 
* Amgen, Amazon Partner for AI in Mfg 
Partnering 
* BMS, Avidity Biosciences in $2.3-Bn Pact for Antibody Oligonucleotide Conjugates
Mergers and acquisitions 
* Merck & Co. To Acquire Caraway Therapeutics for $610 M
* Astellas To Acquire Propella Therapeutics for $175 M 

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Manufacturing News 

Amgen, Amazon Partner for AI in Mfg 
Amazon Web Services (AWS), an Amazon company, is partnering with Amgen to create generative artificial intelligence (generative AI)-based solutions to help discover, develop, and increase manufacturing throughput. Amgen will also use AWS’s global infrastructure and advanced services for the new digital data and analytics platform at Amgen’s advanced assembly and final product packaging facility, which will open next year (2024) in the greater Columbus, Ohio, area. 

The new facility will feature digital and robotic technology, including the implementation of a connected digital platform on AWS using Amazon SageMaker, a fully managed service to build, train, and deploy machine-learning models, to collect and analyze manufacturing data points daily. The platform is designed to reduce operator intervention and improve ergonomic safety of manual activity by using AI, sensors, and machine-vision systems in the packaging lines. Additionally, the collection and reporting of real-time performance metrics will be integrated with machine-learning models to predict and prevent equipment failure.  

Source: Amazon Web Services 

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Partnering News 
 
BMS, Avidity Biosciences in $2.3-Bn Pact for Antibody Oligonucleotide Conjugates 
Bristol Myers Squibb and Avidity Biosciences, a San Diego, California-based bio/pharmaceutical company focused on antibody oligonucleotide conjugates (AOCs), have formed a global licensing and research collaboration focused on the discovery, development and commercialization of multiple cardiovascular targets in a deal worth up to $2.3 billion ($100 million upfront and $2.2 billion in milestone payments).  

AOCs are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to target the root cause of diseases previously untreatable with RNA therapeutics. 

Under the agreement, Avidity will receive $100 million upfront, which includes a $60 million cash payment as well as the purchase of approximately $40 million of Avidity common stock at a purchase price of $7.88 per share. Avidity is also eligible to receive up to approximately $1.35 billion in research and development milestone payments, up to approximately $825 million in commercial milestone payments, and tiered royalties up to low double-digits on net sales. Bristol Myers Squibb will fund all future clinical development, regulatory, and commercialization activities coming from this collaboration. 

Source: Avidity Biosciences 

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Mergers and acquisitions 

Merck & Co. To Acquire Caraway Therapeutics for $610 M 
Merck & Co. has agreed to acquire Caraway Therapeutics, a Cambridge, Massachusetts-based bio/pharmaceutical company, for up to $610 million, including an undisclosed upfront payment as well as contingent milestone payments.  

Caraway is a preclinical bio/pharmaceutical company pursuing approaches for the treatment of genetically defined neurodegenerative and rare diseases. The company has built a pipeline of small-molecule therapeutics for the treatment of genetically defined neurodegenerative and rare diseases. 

Under the agreement, Merck, through a subsidiary, will acquire all outstanding shares of Caraway with earnout milestones associated with the development of certain pipeline candidates. The Board of Directors of Caraway Therapeutics has approved the transaction. 

Source: Merck & Co. 

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Astellas To Acquire Propella Therapeutics for $175 M 
Astellas Pharma has agreed to acquire Propella Therapeutics, a Pittsboro, North Carolina-based bio/pharmaceutical company, for $175 million.  

Propella is a privately held bio/pharmaceutical company that has a proprietary platform that combines medicinal chemistry with lymphatic targeting to create new oncology drugs. 

Through the acquisition of Propella, Astellas will acquire PRL-02 (abiraterone decanoate), a drug being developed by Propella to treat prostate cancer. PRL-02 is currently in a Phase I clinical trial and is expected to enter Phase IIa clinical trials in 2024. 

Under the agreement, Astellas will pay approximately $175 million to acquire all of the outstanding common stock and equity interests in Propella. Subject to customary closing conditions, the transaction is expected to occur during Astellas’ fiscal year 2023 (which ends on March 31, 2024). 

Source: Astellas Pharma