GlycoMimetics out-licenses two programs in Greater China
GlycoMimetics (GLYC -0.2%) inks an agreement with Apollomics for exclusive development and commercialization rights to lead candidate uproleselan and GMI-1687 in Mainland China, Hong Kong, Macau and Taiwan (Greater China).
Under the terms of the deal, GLYC will receive $9M upfront, up to $180M in milestones and tiered royalties on net sales. Apollomics will responsible for all development, regulatory filings and commercialization while GLYC will supply product.
GLYC will retain all rights to the two compounds in the rest of the world.
Uproleselan is an E-selectin inhibitor in Phase 3 development for acute myeloid leukemia (AML). GMI-1687 is also an E-selectin inhibitor but will much greater potency (~250x greater than uproleselan).
OrthoPediatrics sells Vilex adult business
Following through on its earlier announcement, OrthoPediatrics (KIDS +0.6%) has divested the adult segment of its Vilex business in Tennessee to an affiliate of Squadron Capital, LLC, who was also granted a license to manufacture and sell products based on the external fixation technology developed by company affiliate Orthex, LLC, subject to certain restrictions.
The transaction lowered the amount the company owed under its term loan to Squadron by $25M. The remaining $5M was repaid last month from its credit revolver with Squadron.
Perrigo buys toothbrush accessory brand
Perrigo (PRGO -0.9%) unit Ranir has acquired Steripod, a toothbrush accessory brand that includes toothbrush protectors, kids products and tongue cleaners, from Bonfit America for an undisclosed sum.
Hookipa Pharma up 2% on advancement of Gilead partnership
Thinly traded HOOKIPA Pharma (HOOK +2.1%) is up, albeit on a scant 38K shares, on the heels of its announcement that collaboration partner Gilead Sciences (GILD -0.2%) will advance its HBV and HIV vectors toward development, a decision that triggers another milestone payment under the HBV program.
Gilead has agreed to reserve manufacturing capacity for the vectors and has expanded the resources allocated to the partnership inked in June 2018.
Anika Therapeutics to buy two med firms for up to $195M
Anika Therapeutics (ANIK +4.6%) agrees to acquire Parcus Medical, a privately-held sports medicine company, for an upfront payment of ~$35M and contingent payment of $60M
Concurrently, agrees to acquire Arthrosurface, a privately-held provider of joint surface and preservation solutions for active patients for an upfront of $60M and additional milestone payment of $40M.
For 2019, Parcus Medical and Arthrosurface is expected to generate revenues of ~$12M – $13M and ~$28M – $30M, respectively.
Anika anticipates both acquisitions will close in Q1 2020
