SGIOF - Week In Review: Osaka Enters $445 Million Deal For Two Hearing Loss Candidates From France's Cilcare
2024-06-17 10:40:00 ET
Summary
- Shionogi optioned rights for two candidates targeting cochlear synaptopathy, including one that is poised to start a Phase II trial.
- XtalPi raised US$126.8 million in a Hong Kong IPO, the third-largest Hong Kong IPO of the year.
- Takeda entered a $100 million option agreement to acquire global rights (ex-China) to Suzhou Ascentage’s lead drug, olverembatinib.
Deals and Financings
Shionogi ([[SGIOY]], [[SGIOF]]), an Osaka innovative pharma, has signed an option agreement with Cilcare of Montpellier, France to in-license two drug candidates aimed at hearing loss in a deal worth up to $445 million (see story ). Shionogi optioned rights for two candidates targeting cochlear synaptopathy, including one that is poised to start a Phase II trial. In preclinical tests, CIL001 showed efficacy, restoring full activity of the auditory nerve and repairing the synapses. Shionogi will make an upfront payment of Euros 15 million and, if it exercises the option, be responsible for milestones of Euros 400 million, plus royalties....
Week In Review: Osaka Enters $445 Million Deal For Two Hearing Loss Candidates From France's Cilcare