TAK - Week In Review: Hengrui And Dearon Announce $7.2B In Drug Licensings
2024-05-26 02:45:00 ET
Summary
- Jiangsu Hengrui Medicine out-licenses global rights for its GLP-1 candidates to US startup Hercules in a deal worth up to $6 billion.
- Shanghai Degron Therapeutics partners with Takeda to identify multiple targets in oncology, neuroscience, and inflammation using its molecular glue-based drug discovery platform.
- AstraZeneca plans to build a $1.5 billion manufacturing facility in Singapore for antibody drug conjugates to support its global ADC portfolio.
Deals and Financings
Jiangsu Hengrui Medicine out-licensed global rights for its portfolio of three proprietary GLP-1 candidates to a US startup, Hercules, in a deal worth up to $6 billion. Hengrui will receive $110 million upfront, up to $200 million in milestones, and as much as $5.725 billion in sales milestones, plus royalties. Hengrui will own a 19.9% equity stake in Hercules as part of the deal. At the same time, Hercules, a partnership between Bain, Atlas, RTW and Lyra Capital, raised $400 million from four investors to get the company going....
Week In Review: Hengrui And Dearon Announce $7.2B In Drug Licensings