ASCLF - Week In Review: Leo Pharma Acquires Atopic Dermatitis Candidate From Taiwan-China Company In $570 Million Deal
Deals and Financings
Leo Pharma, a Denmark dermatology company, acquired global rights to a novel treatment for atopic dermatitis ((AD)) and allergic asthma in an agreement worth up to $570 million. FB825 is a first-in-class candidate that targets the C?mX domain of membrane-bound IgE (mIgE), causing a depletion of mIgE positive B-cells and slowing the immune response, the company said. Leo acquired FB825 from Oneness Biotech [TPEx:4743] of Taiwan and Microbio Shanghai. It made a $40 million upfront payment and will pay up to $530 million of milestones, plus royalties.
Beijing Mabworks Biotech raised $160