In Vivo's Deals Of The Month, March 2017
Executive Summary
Free article: In Vivo's editors pick March's most significant deals, including Spero's Series C and Allergan's deal with Editas.
Top Alliance: Allergan Options CRISPR Ocular Programs From Editas
Allergan PLC, not known for its interest in early-stage R&D,has obtained exclusive access and the option to license up to five of Editas Medicine Inc.'s genome-editing ophthalmic programs – including its lead program candidate for Leber congenital amaurosis, a rare, inherited retinal degenerative disease that appears in childhood and leads to blindness. Editas, which also closed an $84.6 million FOPO in March, gets $90 million up front from Allergan as well as potential milestone payments and royalties from any approved products. [See Deal]
Top Financing: Spero Raises Series C
Antibacterials developer Spero Therapeutics LLC raised $51.7 million in an oversubscribed Series C round led by first-time backer GV (formerly Google Ventures). GV was joined by other new investors RA Capital Management and Rock Springs Capital and returning shareholders Atlas Venture, SR One, MRL Ventures Fund, Lundbeckfonden Ventures, The Kraft Group and Osage University Partners. Spero will use the funds for ongoing development of its pipeline candidates aimed at drug-resistant bacterial infections, including preclinical SPR994 and its clinical-stage Potentiator program. [See Deal]
Top M&A: BioLineRx Expands IO Pipeline With Agalimmune Buy
BioLineRx Ltd. enhanced its immuno-oncology pipeline through its acquisition of privately held cancer drug development company Agalimmune Ltd. The $6 million going to Agalimmune's shareholders is divided equally into cash and an equity stake in BioLineRx, with potential development and commercial milestones tied to Agalimmunie's lead candidate, AGI-134, which has shown preclinical ability to stimulate a systemic, specific anti-tumor response by harnessing the body's innate anti-alpha-Gal antibodies. [See Deal]