German pharmaceutical company Merck KGaA confirmed Monday that it is engaged in advanced discussions regarding a potential acquisition of SpringWorks Therapeutics, though the company emphasized that key conditions remain unmet and no binding agreement has been reached. The talks were first reported by Reuters, causing SpringWorks shares to surge 34% on Monday before declining 4% in early Tuesday trading.
In other industry news, BridgeBio Pharma received European Commission approval for Beyonttra (acoramidis) to treat patients with
transthyretin amyloidosis with cardiomyopathy. The drug, marketed as Attruby in the United States where it gained approval in November, has seen stronger-than-anticipated initial sales. The European
authorization triggers a $75 million milestone payment from Bayer, which holds European commercial rights through a 2024 partnership deal that guarantees BridgeBio royalties of at least “low thirties” percent on regional sales.
Biohaven received priority review from the FDA for troriluzole, its experimental treatment for spinocerebellar ataxia, setting up a potential decision within six months. If approved, troriluzole would become the first authorized treatment for this neurodegenerative condition affecting muscle coordination. Clinical testing compared treated patients to an external control group and demonstrated slowed disease progression. The company indicates it is prepared for a potential launch this year pending regulatory clearance.
Third Harmonic Bio announced plans to reduce its workforce by 50% and narrow its focus to advancing THB335 into Phase 2 testing for chronic spontaneous urticaria. The company will discontinue other programs while exploring strategic options that could include a merger, sale or licensing agreements. Third Harmonic, which raised $185 million in its 2022 IPO, reported cash and equivalents of $285 million as of December 31.
Expanding its presence in radiopharmaceuticals, Eli Lilly has broadened its collaboration with AdvanCell, a developer that recently secured $112 million in Series C funding. The expanded partnership will focus on AdvanCell’s technology for producing the lead
radioisotope Pb-212. While specific financial terms were not disclosed, the deal represents Lilly’s continued investment in radiopharmaceutical development through various partnerships and investments.
Through these multiple developments, the biopharmaceutical industry continues to see significant movement in mergers and acquisitions, regulatory approvals, and strategic collaborations. The potential Merck KGaA-SpringWorks deal could mark another major acquisition in the sector, while BridgeBio’s European approval strengthens its global presence in rare disease treatment. Biohaven’s priority review status could lead to a groundbreaking therapy for an currently untreated condition, while Third Harmonic Bio’s restructuring reflects the ongoing evolution of biotech business strategies. Meanwhile, Lilly’s expanded work with AdvanCell demonstrates growing interest in innovative radiopharmaceutical approaches to treatment.
The diverse nature of these developments – from potential corporate combinations to regulatory milestones and strategic realignments – illustrates the dynamic state of the biopharmaceutical industry as companies pursue various paths to advance medical treatments and build sustainable businesses.