Partnering News: Biocon Biologics, BMS, Novartis & More By
A roundup of bio/pharmaceutical partnering news from Serum Institute/Biocon Biologics, Bristol Myers Squibb/Tubulis and Novartis/3B Pharmaceuticals.
* Serum Institute Increases Stake in Biocon Biologics to $300 M
* BMS, Tubulis in a $1-Bn Licensing Pact for Oncology-Based ADCs
* Novartis, 3B Pharmaceuticals in $465-M Licensing Pact for Radiopharmaceuticals
Serum Institute Increases Stake in Biocon Biologics to $300 M
Biocon Biologics, a Bangalore, India-based biosimilars company and subsidiary of Biocon Ltd., and the Serum Institute of Life Sciences, a Pune, India-based vaccine manufacturer, have agreed to amend their original strategic alliance announced in September 2021 to increase Serum Institute’s equity stake in Biocon Biologics. Under the new agreement, Serum will make an additional equity investment of $150 million into Biocon Biologics to bring its total equity stake in the company to $300 million.
Under the agreement, Serum would make an additional equity investment of $150 million through the conversion of a $150-million loan provided to Biocon Pharma, a subsidiary of Biocon Ltd., into equity in Biocon Biologics. This investment is in addition to the $150 million that Serum had invested in Biocon Biologics in November 2022, and results in Serum’s aggregate equity investment in Biocon amounting to $300 million.
Under the agreement, Biocon will have access to 100 million doses of vaccines annually with distribution rights to Serum’s vaccine portfolio, which will add to Biocon Biologics’ product portfolio for global markets.
Source: Biocon Biologics
BMS, Tubulis in a $1-Bn Licensing Pact for Oncology-Based ADCs
Bristol Myers Squibb (BMS) and Tubulis, a Munich, Germany-based bio/pharmaceutical company, have entered into a strategic license agreement to develop differentiated antibody-drug conjugates (ADCs) for cancer treatments, in a deal worth up to $1.02 billion ($23 million upfront and $1 billion in milestone payments).
Under the agreement, BMS will gain exclusive rights to access Tubulis’ tubutecan-based payloads in combination with Tubulis’ P5 conjugation platform for the development of a selected number of highly differentiated ADCs to treat solid tumors. According to Tubulis, P5 and tubutecans facilitate the generation of ultra-stable ADCs that have the potential to actively reduce unwanted target-independent toxicities and are optimized for on-target delivery of potent topoisomerase-1 inhibitors.
The terms of the agreement include an upfront payment of $22.75 million to Tubulis in addition to the potential for over $1 billion in development, regulatory, and commercial milestone payments, plus royalty payments on resulting marketed products. BMS will assume sole responsibility for development, manufacturing, and commercialization of the resulting ADC candidates.
Novartis, 3B Pharmaceuticals in $465-M Licensing Pact for Radiopharmaceuticals
Novartis and 3B Pharmaceuticals (3BP), a Berlin. Germany-based biotechnology company developing radiopharmaceuticals and diagnostics for oncology indications, have entered into a licensing agreement for 3BP’s fibroblast activation protein (FAP)-targeting peptide technology, in a deal worth up to $465 million ($40 million upfront and $425 million in milestone payments).
The agreement gives Novartis exclusive worldwide rights to develop and commercialize therapeutic and imaging applications for 3BP’s FAP-targeting peptide technology, including for FAP-2286, a peptide-targeted radioligand therapy targeting FAP across various cancers. The radiopharmaceutical and its diagnostic are currently being tested in a Phase I clinical trial.
Under the agreement, 3BP receives an initial payment of $40 million as well as up to $425 million in development, regulatory, and commercial milestone payments, in addition to tiered royalties on net sales. 3BP retains certain rights to develop its FAP-targeting imaging technology for diagnostic purposes.
3BP entered into a license and collaboration agreement in 2019 with Clovis Oncology, a bio/pharmaceutical company focusing on the development of a peptide-targeted radiotherapy and imaging agent targeting FAP. In December 2022, Clovis Oncology filed for bankruptcy and sold FAP-2286 to Novartis. 3BP’s new agreement with Novartis encompasses 3BP’s entire FAP-targeting peptide technology and worldwide rights.
Source: 3B Pharmaceuticals