Deals In Depth: June 2021

Six $1bn+ alliances were penned in June. Topping the list was Eisai’s potential $3.1bn collaboration Bristol-Myers Squibb for the co-development and co-commercialization of Eisai’s antibody drug conjugate MORAb-202 in Japan, China, select countries in the Asia-Pacific region, the US, Canada, Europe (including the EU and UK), and Russia. The candidate is in Phase I in Japan and Phase I/II in the US for anti-folate receptor alpha-positive solid tumors.

Deals In Depth

In the top June M&A by deal value, MorphoSys AG entered into a definitive agreement to acquire public biopharma company Constellation Pharmaceuticals for $34.00 per share in cash (a 69% premium), representing a total equity value of $1.7bn. Through the acquisition, MorphoSys gets Constellation's two lead candidates pelabresib (Phase III BET inhibitor for myelofibrosis) and CPI-0209, an EZHR inhibitor in Phase II for solid and blood cancers. Financing reached $16.5bn in biopharma, $1.4bn in device, and $650m in diagnostics.

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