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.

During Q2, biopharmas brought in an aggregate $23.8bn in financing and device company fundraising totaled $2.4bn; while in vitro diagnostic firms and research tools players raised $684m.

Three $1bn+ alliances were penned in June. Topping the list was a potential $2.5bn deal under which Bausch & Lomb acquired Novartis’ Xiidra (lifitegrast ophthalmic solution) for signs and symptoms of dry eye disease; investigational compounds SAF312 (libvatrep) for chronic ocular surface pain and OJL332 for an undisclosed ophthalmic indication; plus rights to use the AcuStream delivery device in dry eye indications.

Four $1bn+ alliances were penned in May. Topping the list was a potential $2bn deal between Bliss Biopharmaceutical and Eisai for BB-1701, which is currently in Phase I/II studies in the US and China for various types of cancers. Both parties will conduct co-development activities related to BB-1701 through an option period. Should Eisai exercise its option, it would receive worldwide rights (excluding Greater China) to develop and commercialize BB-1701.