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Gilead drug acquired in $5B buyout fails key blood cancer trial

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Gilead Sciences has stopped a closely watched trial involving an experimental cancer drug the company acquired three years ago in a roughly $5 billion deal, marking the latest setback in the company’s plans to grow its oncology business.

Source
BioPharma Dive

Cancer biotech Pheast unveils $76M to expand immunotherapy’s menu to new targets

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Biotech startup Pheast Therapeutics is out of stealth taking a tack similar to that of cancer immunotherapy company Forty Seven, also a spinout from the Stanford University lab of Irving Weissman. While both companies get immune cells to eat tumors, Pheast’s technology has the potential to take the approach to a broader range of cancer types including those that have historically resisted immunotherapy.

Source
MedCity News

Gilead taps brakes on $4.9B bet after rival's failure, pushing blood cancer data out to 2022

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Gilead’s $4.9 billion bet on Forty Seven has run into a delay. Weeks after Takeda’s rival drug flunked a pivotal trial, Gilead has pushed back the release of data from a phase 1b study designed to support accelerated approval.

The data drop on magrolimab in the blood cancer myelodysplastic syndrome (MDS), which was scheduled for this year, is now penciled in (PDF) for the first quarter of 2022. Analysts at Jefferies said the delay is “in part due to GILD still talking to FDA on filing requirements, particularly after Takeda just failed a Phase III in MDS after strong Phase IB CR rates in MDS.”

Source
Fierce Biotech

The top 10 largest biopharma M&A deals in 2020

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Biopharma M&A activities suffered a slowdown in 2020. One could argue that 2019’s megadeals consumed some of last year’s quota, and COVID-19 definitely didn’t help. But AstraZeneca’s $39 billion deal for Alexion Pharmaceutical and Gilead’s $21 billion acquisition of Immunomedics showed the appetite for dealmaking is still there.

Source
Fierce Pharma

Astrazeneca shows megamergers were still possible in 2020

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It might not have been the biggest year for biopharma acquisitions, but despite a global pandemic and rising asset prices 2020 still managed to pull off a respectable transaction haul, with almost $130bn of deals announced.

There had been concerns after a very flat first half that things might not play out so well, but a strong finish to the fourth quarter, thanks to Astrazeneca and Bristol Myers Squibb, ensured that despite its problems 2020 compared favourably to more normal years.

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EP Vantage

The top 5 pharma M&A deals of 2020

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2020’s M&A activity hasn’t quite reached the heights of last year’s, where two pharma mega-mergers – BMS’ buyout of Celegne and AbbVie’s acquisition of Allergan – accounted for almost 40% of total M&A deal values.

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Pharmaforum

AbbVie has 47 reasons for its $2B cancer immunotherapy partnership with I-Mab

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The drugmaker said Friday that it would partner with Shanghai-based I-Mab on the development of lemzoparlimab, a drug that targets CD47. The antigen target, also known as the "don't eat me" signal, is a growing area of immunotherapy, as illustrated by Gilead's $4.9 billion buyout of Forty Seven in March.

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MedCity News

Gilead trumpets data with newly-bought magrolimab in blood cancers

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Just three months after acquiring Forty Seven for $4.9 billion, Gilead has reported positive data on magrolimab, the lead drug from the deal, at ASCO 2020.

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Pharmaforum

Biopharma acquisitions slow, but it's not Covid-19's fault yet

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Drug makers struck few M&A deals in the first quarter, but activity did not dry up, suggesting that the real impact of coronavirus has yet to play out.

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EP Vantage