Merck KGaA Will Pay $1.3 Billion for Silence Therapeutics, Buying Its Way Into Haematology With One Phase 3-Ready siRNA
Merck KGaA paid an 82% premium for one asset and a new therapy area, pricing divesiran’s Phase 2 effect as close to settled.
Deal Read
Lilly Signed Up to $1.1 Billion With METiS TechBio for AI-Designed Lipid Nanoparticles While Paying Only Low Double-Digit Millions Upfront
Lilly is buying options on delivery beyond the liver, paying little upfront until an AI-designed lipid proves it works.
Roche’s Hansoh ADC Deal Is Worth Over $15.5 Billion, With $400 Million Upfront for Programmes Still in the Lab
Roche is paying platform money for ADCs that do not exist yet, five times what it paid Hansoh for a clinical asset in 2025.
Genentech Paid $100 Million for Alector’s Parkinson’s Enzyme but Not Its Brain Shuttle
Genentech bought the Parkinson’s enzyme and left the brain shuttle with Alector, which now funds its pipeline into 2029.
Shionogi Paid 29 Times Sales for IntraBio, 17 Days After AQNEURSA’s Second FDA Approval
Shionogi paid about 29 times sales for a drug that gained its second indication 17 days before the deal was signed.
CSL Paid $355 Million and Gave Up 45% of the Profits to Win a Claudin-1 Antibody
No development milestones and no royalty: CSL funds every trial through Phase 3 and gives Alentis 45% of the profits.
Novartis $7.8 Billion Abogen Bet Rests on Efficacy Data From Three Patients
Up to $7.8 billion for an mRNA engager with efficacy data from three patients, 32 days after Novartis halted its CAR-T.
Sanofi Pays Regeneron $1 Billion to Keep Dupixent’s Successors Inside a 23-Year Alliance
Sanofi is paying to keep Dupixent’s next generation in the partnership, and the deal also closes a lawsuit between them.
Novo Paid $300 Million Upfront for a Weekly GLP-1/GIP Pill That Has Not Yet Entered Phase 1
Novo paid a clean, large upfront for a once-weekly pill whose convenience advantage it cannot yet prove in people.
AstraZeneca Puts $2 Billion Into Summit, Whose Drug Beat AstraZeneca’s Own Imfinzi in Biliary Cancer
AstraZeneca bought access to ivonescimab, not rights, and paid a premium to sit next to the drug that beat Imfinzi.