ARTICLE | Deals
Deals Report: Roche-Poseida, Novartis-PTC and Sarepta-Arrowhead forge large deals, as Idorsia keeps the lights on into 2025
By Gunjan Ohri, Data Content Analyst
December 3, 2024 1:58 AM UTC
Even with the U.S. holiday, the past seven days brought three high-profile deals, a smattering of smaller partnerships and the sale of a priority review voucher for $150 million. Plus Idorsia, amidst a major restructuring, secured $35 million to extend its runway into next year.
The headline deals of the past seven days included two that gave biotechs $1 billion up front. One was the proposed acquisition of CAR T developer Poseida Therapeutics Inc. (NASDAQ:PSTX) by Roche (SIX:ROG; OTCQB:RHHBY) for a 215% premium and a contingent value right that could push the premium up to 355%. The other was a licensing agreement in which Novartis AG (SIX:NOVN; NYSE:NVS) got rights to PTC518, an mRNA splicing small molecule for Huntington’s disease, from PTC Therapeutics Inc. (NASDAQ:PTCT). …
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- Source: https://www.biocentury.com/article/654356/the-week-in-deals-acadia-taps-saniona-for-gabra3-modulator-and-more