German pharmaceutical company Merck KGaA confirmed it is in advanced negotiations to potentially acquire SpringWorks Therapeutics, though the company emphasized that no binding agreement has been reached and key conditions remain unmet. The news, which was first reported by Reuters, sent SpringWorks shares surging 34% on Monday before declining 4% in early Tuesday trading.
In other industry developments, BridgeBio Pharma received European Commission approval for Beyonttra (acoramidis) to treat patients with transthyretin amyloidosis with cardiomyopathy. The authorization follows the drug’s U.S. approval in November under the brand name Attruby, where it has shown stronger-than-anticipated early sales performance. The European approval triggers a $75 million milestone payment from Bayer, which holds European commercial rights through a 2024 partnership agreement that guarantees BridgeBio royalties of at least “low thirties” percent on regional sales.
Meanwhile, Biohaven received priority review from the FDA for troriluzole, its experimental treatment for spinocerebellar ataxia. If approved within the six-month review period, troriluzole would become the first authorized treatment for this neurodegenerative condition affecting muscle coordination. Clinical testing, which compared treated patients against an external control group, demonstrated the drug’s ability to slow disease progression. Biohaven indicates it is prepared to launch troriluzole this year pending regulatory clearance.
Third Harmonic Bio announced plans to reduce its workforce by 50% and discontinue all programs except THB335, which is advancing to Phase 2 testing for chronic spontaneous urticaria. The company, which completed a $185 million IPO in 2022, will explore “a full range of strategic transactions” including potential merger, sale or licensing opportunities. Third Harmonic reported $285 million in cash and equivalents as of December 31.
Additionally, Eli Lilly is expanding its partnership with
radiopharmaceutical developer AdvanCell, which recently secured $112 million in Series C funding. The collaboration will focus on AdvanCell’s technology for producing the lead radioisotope Pb-212. While specific financial terms were not disclosed, the agreement represents Lilly’s continued investment in radiopharmaceutical development through various strategic partnerships.
These developments reflect ongoing industry trends of strategic acquisitions, regulatory milestones, and therapeutic innovations. Merck KGaA’s potential SpringWorks acquisition could strengthen its pharmaceutical portfolio, while BridgeBio’s European approval expands access to an important cardiac treatment. Biohaven’s progress with troriluzole demonstrates continued advancement in addressing unmet medical needs, particularly in rare neurological conditions. Third Harmonic’s strategic restructuring highlights the challenging environment for biotech companies, even those with substantial cash reserves. Finally, Lilly’s expanded collaboration with AdvanCell underscores growing interest in radiopharmaceutical approaches to drug development. These various announcements illustrate the dynamic nature of the biopharmaceutical industry as companies pursue different strategies to advance medical treatments and create value.