BNR - Week In Review: MediLink And BioNTech Form $1.8B ADC Partnership
2024-06-02 03:00:00 ET
Summary
- Suzhou MediLink partners with BioNTech to use its antibody-drug conjugate platform, receiving an upfront payment of $25 million and up to $1.8 billion in milestones.
- Asahi Kasei offers $1.1 billion to acquire Calliditas Therapeutics, aiming to expand its presence in healthcare and enter the areas of immunology and transplantation.
- Bio-Thera Solutions sells European rights for its biosimilar to STADA Arzneimittel in a $157.5 million agreement, targeting the treatment of arthritis and autoimmune disorders.
Deals and Financings
Suzhou MediLink partnered with Germany's BioNTech ( BNTX ) to use MediLink's TMALIN® antibody-drug conjugate ('ADC') platform to discover ADC candidates for several novel targets chosen by BioNTech (see story ). MediLink will receive an upfront payment of $25 million and up to $1.8 billion in milestones, plus tiered royalties. MediLink has first negotiation rights to commercialize any candidates in Mainland China. The two companies are very familiar with each other. In October 2023, MediLink announced a deal worth up to $1.1 billion granting BioNTech global rights (ex-China) for MediLink's next-gen anti-HER3 ADC....
Week In Review: MediLink And BioNTech Form $1.8B ADC Partnership