Highlights of the Australian biotechnology industry
- Bionomics received a US$10 million payment from MSD, following the selection of Bionomics’ drug candidates for a clinical trial, which is for the treatment of Alzheimer’s related-cognitive dysfunction. This payment is part of a partnership between the two companies, which worth up to US$506 million (The Advertiser 2016).
- CSL invested US$613.8 million in R&D in 2015/16. This represented more than 52 per cent of total revenues of US$1,178.6 million for CSL (CSL Annual Report 2016).
- US Biomedical Advanced Research and Development Authority agreed to fund Avita Medical for a further $US7.96 million to support the regenerative medicine company in its plans for US market approval and product launch of ReCell (Biotech Dispatch 2016).
- MSD has signed a new licensing agreement to develop inhibitors of protein arginine methyltransferase 5 (PRMT5) discovered at the Australian Cooperative Research Centre for Cancer Therapeutics (CTx), worth up AU $21 million (Biotech Dispatch 2016).
- Starpharma’s DEP drug delivery program will be applied to a further compound from AstraZeneca’s portfolio, following a new agreement between the two biotechnology companies (Biotech Dispatch 2016).
- Hatchtech signed a large die large license deal worth up to $279 million based on research from the University of Melbourne in 2015, saving the lives of millions of sheep each year and developing a new generation of head lice treatment. (Business Wire 2015)
- Spinifex was purchased by Novartis in a deal worth up to AU$1 billion, for its treatment of chronic pain. Included in upfront cash consideration of US$200 million plus undisclosed clinical development and regulatory milestone payments (Biotech Dispatch 2015).
- In a landmark deal work up to AU $750 million, Boehringer Ingelheim will pay AU$39 million upfront to Pharmaxis, a Sydney-based pharmaceutical research company (Proactive Investors 2015).
- Fibrotech acquired by Shire Plc in July 2014 in record sale for Phase I Australian biotechnology company. The acquisition provided an upfront of US$75 million, and includes undisclosed milestones in excess of US$ 600 million. (FierceBiotech 2014).
More success stories
