Financing Quarterly Statistics, Q4 2022
A Look At Financing Activity Across The Biopharma, Medical Device And In Vitro Diagnostics Industries, October-December 2022
During Q4, biopharmas brought in an aggregate $17.5bn in financing and device company fundraising totaled $1.9bn; while in vitro diagnostic firms and research tools players raised $848m.
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In the top August alliance by deal value, Precision BioSciences licensed Imugene global rights to azercabtagene zapreleucel (azer-cel), its lead allogeneic anti-CD19 CAR T candidate for cancer. Imugene will assume ongoing clinical execution for azer-cel in the large B-cell lymphoma population who have relapsed following autologous CAR T treatment. The license also includes an option to develop up to three other cancer research programs in the future. Precision will receive $21m up front and is eligible for $8m upon successful completion of the Phase Ib dosing in the CAR T relapsed LBCL patient population. For azer-cel, Precision is eligible to receive up to $198m in additional milestone payments plus royalties. For each additional research program selected by Imugene, Precision is eligible for up to $145m in milestone payments and tiered royalties on net sales.
Eight $1bn+ alliances were penned in July. Topping the list was a potential $2.8bn deal under which Alnylam granted Roche exclusive global rights outside the US to develop and commercialize its Phase II hypertension candidate zilebesiran. The companies will co-develop zilebesiran in the US.
During Q2, biopharma merger and acquisition deal value reached $29bn and drew in $36.8bn in potential deal value from alliances. Device company M&A values reached $988m, while in vitro diagnostics and research tools players’ M&A activity totaled $450m.