Zaltenibart

Novo Nordisk and a separate prospective buyer walked away from a potential acquisition of MASH drug developer Akero Therapeutics, before Novo came back to the table to finish the deal a few months later. The extensive back-and-forth is detailed in an SEC filing that shows how the $4.7 billion upfront cash sale to Novo eventually got done, and how it almost didn’t happen. On May 14, after months of meetings, Novo proposed $58 per share. Then, nine days later, Akero was able to get a competing bidder described as “Party A” to put $62.50 per share on the table. A few weeks later, on June 9, Novo and Party A told Akero they were no longer interested in a deal. It’s not clear from the filing what happened, though just days after making the $58-a-share offer, Novo said that its CEO was stepping down in a surprise announcement. By September, and with a new CEO, Novo was back. It reengaged with Akero on Sept. 12 and, by October, made a new offer — but for a lower upfront price. It was now willing to give Akero $51 a share in cash, plus a contingent value right of $8 per share if Akero’s MASH drug got FDA approval by 2031. (CVRs have become a regular feature in deals in 2025 as a way to bridge value gaps.) There’s been surging interest in MASH this year, after Madrigal Pharmaceuticals’ approved medicine showed market momentum. And the Akero deal documents hint at wide interest from other drugmakers in the liver disease: 10 companies besides Novo signed confidentiality agreements with Akero over the last several years, according to the filing. Some of them may have even done deals already: GSK disclosed its plans to buy Boston Pharmaceuticals ‘ MASH treatment candidate in May, and Roche scooped up 89bio in mid-September. To try and close the deal with Novo, Akero CEO Andrew Cheng made a counterproposal of $57 per share, plus a CVR of $10 per share if efruxifermin got FDA approval by 2032. The next day, Novo came back with $53 per share upfront and a $6 per share CVR. Cheng went back with a request for $56 apiece upfront and a $6-per-share CVR. Eventually, the two companies would come to terms on a $54-per-share buyout and a $6-per-share milestone payment. They announced the deal on Oct. 9. Under new CEO Maziar Mike Doustdar, Novo says it would focus on its core areas of obesity and diabetes, but the company continues to expand its pipeline in broader cardiometabolic areas. The Akero deal was followed shortly by an up to $2.1 billion acquisition of Omeros’ Phase 2 kidney and blood disorder drug zaltenibart.

据创鉴汇不完全统计，上周（10月13日至10月19日）全球生物医药领域共披露37起交易事件，潜在交易总额超127亿美元。交易以17起合作研发和10起药物授权为主要形式，罗氏、阿斯利康、诺和诺德等跨国药企参与了多笔大额交易。 上周潜在最大额交易来自诺和诺德，15日宣布以21亿美元收购Omeros公司的补体抑制剂zaltenibart（OMS906）。Zaltenibart是一种靶向MASP-3蛋白的人源单克隆抗体，该蛋白在补体系统中发挥作用，与多种免疫和罕见病相关。在治疗阵发性睡眠性血红蛋白尿症（PNH）的2期试验中（样本量12人），Zaltenibart显示出75%的完全缓解率。诺和诺德计划启动PNH的3期研究，并探索该药物在多种罕见血液和肾脏疾病中的潜力。这是诺和诺德近期管线调整后，强化罕见病领域布局的举措之一。 技术驱动型合作成为上周亮点，人工智能（AI）在药物研发中的应用热度持续： 10月14日，百时美施贵宝与insitro宣布在2020年协议基础上延续合作，利用insitro的AI平台ChemML推进肌萎缩侧索硬化症（ALS）新药开发。该平台通过定量自适应文库（QAL）生成数十亿个药物靶标结合和选择性数据，结合AI驱动的设计循环（设计-合成-测试）加速靶点转化。本次合作聚焦于临床前发现的新型ALS靶点，计划开发小分子疗法，交易总额最高可超20.2亿美元。 同日，武田和Nabla Bio达成超10亿美元合作，这是继2022年首次合作后，双方进一步深化AI生物药开发。武田将利用Nabla的JAM平台从头设计抗体药物，覆盖多靶点及多特异性疗法。 阿斯利康和Immunai也延续三年合作基础，达成8500万美元协议，扩大炎症性肠病（IBD）靶点发现。Immunai通过AMICA细胞图谱与称为“免疫动力学引擎”的AI模型识别新靶点，阿斯利康获独家开发权。 针对口服递送技术，Rani Therapeutics与罗氏控股的中外制药达成超10亿美元合作，基于口服递送平台RaniPill开发罕见病抗体口服制剂，替代传统注射方案。Rani还获得了6030万美元私募股权融资。 上周多起中国公司对外授权及合作案例，覆盖自身免疫与肿瘤领域： 普瑞金生物与Kite Pharma就体内原位编辑疗法领域达成潜在16.4亿美元合作，双方将加速概念验证研究的推进，合作聚焦肿瘤、自免等急需领域。 翰森制药将以15.3亿美元授予罗氏ADC药物HS-20110全球权益（不含中国大陆及港澳台）。该药物由靶向CDH17单克隆抗体与拓扑异构酶抑制剂（TOPOi）载荷通过共价键连接而成，目前已在结直肠癌等实体瘤中观察到早期临床活性。 维立志博将授予Dianthus Therapeutics在大中华区以外独家研发、生产及商业化LBL-047的权益，金额最高可达10亿美元。LBL-047是一款抗BDCA2/TACI双特异性融合蛋白，通过选择性清除浆细胞样树突状细胞（pDCs）以降低I型干扰素生成，同时抑制BAFF/APRIL通路阻断B细胞活化。该疗法有望覆盖多种自身免疫适应症。 此外，海和药物将其PI3Kα抑制剂瑞索利塞在日本的开发、生产和商业化的独家权利授权给大鹏药品，该药物用于治疗既往接受化疗后疾病进展或复发的携带PIK3CA基因突变的卵巢透明细胞癌。 其余交易详见下表。 读者们请星标⭐创鉴汇，第一时间收到推送 免责声明：本文仅作信息交流之目的，文中观点不代表药明康德立场，亦不代表药明康德支持或反对文中观点。本文也不是治疗方案推荐。如需获得治疗方案指导，请前往正规医院就诊。 版权说明：欢迎个人转发至朋友圈，谢绝媒体或机构未经授权以任何形式转发/复制至其他平台。转发授权请在「创鉴汇」微信公众号留言联系我们。 更多数据内容推荐 点击“在看”，分享创鉴汇健康新动态