What was an obscure BD L many years ago was a key part of the future of major M A, such as Sanofi's $2.9 billion acquisition of Provention Bio, with core assets from Macrogenics.
Many previously developed drug candidates, either dust to dust, or no news, or thunder, rain, a chance BD L, is a key part of the future of major M A, such as Amgen's acquisition of Horizon with a market value of $28.3 billion, the core assets from River Vision.
For example, Amgen's $3.7 billion acquisition of ChemocentryX ranks 4th in the historical development of the core asset **Acopan.
That's right, when these accidental things entered the biotech focus, the gears of their fate began to turn quietly.
1.Biotech chosen by the god of fate
2.Conclusion
1 Biotech Core Selected by the God of Destiny Leading assets, assets that were first or highlighted in the company's press release at the time of acquisition.
Historical development prioritization, the order in which the acquired company nominates drug candidates or introduces drug candidates.
Several years of growth, the company from the year of the IPO to the year of the acquisition, comparing the value of the company at the time of acquisition and the market value of the IPO issue.
The number of years in which the gears of fate began to turn, from the year when the company's core leading assets first appeared to the year when they were acquired.
The information is derived from the prospectus, annual report and press release at the time of acquisition.
The following is a bit cumbersome, it is recommended to skip to the bottom of the article to see the summary chart after reading a few cases.
In 2017, Horizon acquired its core asset, teprotumumab, an anti-IGF-1R inhibitor, from River Vision, which ranked 14th in Horizon's all-time development rankings. Since then, the gears of fate have begun to turn, and five years later, the world's largest biopharma acquisition in 2022 was born, with a company value of $28.3 billion, allowing Horizon to achieve a miracle of 160-fold growth in 11 years (roughly 59% annualized).
In 2013, Loxo acquired its core asset, the RET inhibitor Loxo-292, from Array, which ranked third in Loxo's all-time development rankings. Since then, the gears of fate have begun to turn, and 6 years later, an $8 billion acquisition was born, allowing LOXO to achieve a five-year growth of 376 times the miracle (roughly 108% annualized).
By the way, this acquisition also involved pirtobrutinib, the world's first third-generation BTK inhibitor. Pirtobrutinib was discovered by RedX and nominated as RXC005 in October 2016, when RedX, which was in debt crisis, was in dire need of cash and had to give RXC005 to LOXO in July 2017 for a lump sum of $40 million, with no milestone payments and future sales shares. In retrospect, I don't know if RedX regretted breaking his thigh.
In 2018, Provention Bio acquired its core asset, teplizumab, an anti-CD3 antibody from Macrogenics, Inc., which ranked No. 1 in Provention Bio's all-time development rankings. Since then, the gears of fate have begun to turn, and five years later, a $2.9 billion acquisition was born, allowing Provention Bio to grow by 20 in five years4 times more miracles (roughly 85% annualized).
In 2016, Bioh**EN acquired its core asset, the CGRP receptor antagonist Rimegepant from BMS, which ranked No. 1 in BioH**EN's historical development ranking. Since then, the gears of fate have begun to turn, and 6 years later, the world's largest small molecule drug acquisition in 2022 was born, and the company value of $11.6 billion allowed Bioh**en to achieve 5-year growth of 189 times the miracle (roughly 82% annualized).
In 2012, Tesaro acquired its core asset, niraparib, a PARP inhibitor, from Merck & Co., Ltd., which ranked second in Tesaro's all-time development ranking. Since then, the gears of fate have begun to turn, and 6 years later, a $5.1 billion acquisition was born, allowing Tesaro to grow by 13 in 6 years2 times the miracle (roughly annualized to 56%).
In 2014, Zogenix acquired its core asset, the low-dose fenfluramine formulation, from Brabant, which ranked No. 4 in Zogenix's all-time development rankings. Since then, the gears of fate have begun to turn, and eight years later, a $1.9 billion acquisition was born, allowing Zogenix to grow by 13 in 12 years2 times the results (roughly 25% annualized).
In 2017, Endocyte acquired its core asset, PSMA RDC 177LU-PSMA-617, from ABX, which ranked 20th in Endocyte's all-time development ranking. Since then, the gears of fate have begun to turn, and one year later, a $2.1 billion acquisition was born, allowing Endocyte, which was once on the verge of collapse, to achieve 7 years of growth of 116 times better (44% per annum).
In 2017, ChemocentryX's core asset, C5AR antagonist**Acopan, ranked 4th in Chemocentryx's historical development ranking. After suffering setbacks in the development of the first three drug candidates, the top 4 **Acopan was finally approved for marketing in 2021, and one year later, a $3.7 billion acquisition was born, allowing ChemocentryX to achieve 10-year growth of 95 times the best results (roughly 27% annualized).
In 2013, Ignyta acquired its core asset, Entrectinib, a TRK ROS1 inhibitor, from Nerviano Medical Sciences, Inc., which ranked No. 1 in Ignyta's all-time development rankings. Since then, the gears of fate have begun to turn, and 4 years later, a $1.7 billion acquisition was born, allowing IGNYTA to achieve 3-year growth of 87 times the miracle (roughly annualized 113%).
In 2011, Five Prime acquired its core asset, bemarituzumab, an anti-FGFR2b antibody from Galaxy, which ranked third in IGNYTA's all-time development rankings. Since then, the gears of fate have begun to turn, and 10 years later, a $1.9 billion acquisition was born, allowing Five Prime to achieve 8 years of growth1x the results (roughly 32% annualized).
In 2011, ZS Pharma acquired its core asset, the potassium binder zirconium silicate complex ZS-9, from UOP, which ranked No. 1 in ZS Pharma's all-time development rankings. Since then, the gears of fate have begun to turn, and 4 years later, a $2.7 billion acquisition was born, allowing ZS Pharma to achieve a one-year growth of 66x miracles (rough annualized not applicable).
In 2007, Hyperion acquired its core asset, Glyceryl Phenylbutyrate Oral Solution, R**ICTI, from UCYCLYD, which ranked No. 1 in Hyperion's all-time development rankings. Since then, the gears of fate have begun to turn, and 8 years later, a $1.1 billion acquisition was born, allowing ZS Hyperion to achieve a 3-year growth of 59 times the miracle (roughly annualized to 90%).
In 2005, Colucid acquired its core asset, the 5-HT(1F) receptor agonist lasmiditan, from Eli Lilly, which ranked No. 1 in Colucid's all-time development rankings. Since then, the gears of fate have begun to turn, and 12 years later, 9The $600 million acquisition has enabled Colucid to achieve a two-year growth of 53 times the miracle (roughly annualized at 151%).
In 2007, Trius acquired its core asset, the oxazolidinone antibiotic Tedizolid, from Dong-A, which ranked No. 1 in Trius' all-time development rankings. Since then, the gears of fate have begun to turn, and 6 years later, 7 was bornThe acquisition of $0.7 billion has enabled Trius to achieve a miracle of 5 times growth in 3 years (roughly 82% annualized).
In 2007, Relypsa acquired its core asset, Patiromer, a potassium binder from Ilypsa Amgen, which ranked No. 1 in Relypsa's all-time development rankings. Since then, the gears of fate have begun to turn, and 9 years later, 15 years later, was bornThe $300 million acquisition has enabled Relypsa to achieve a three-year growth of 39 times the miracle (roughly 70% annualized).
In 2009, Durata acquired its core asset, the semi-synthetic glycopeptide antibiotic dalb**ancin, from Vicuron Pfizer, which ranked No. 1 in Durata's all-time development rankings. Since then, the gears of fate have begun to turn, and 5 years later, 6The $7.5 billion acquisition has enabled Durata to achieve a two-year growth of 34 times the miracle (roughly 110% annualized).
In 2018, Sierra acquired its core asset, Jak1 JAK2 inhibitor Momelotinib, from Gilead, which ranked Sierra No. 4 in its all-time development rankings. Since then, the gears of fate have begun to turn, and four years later, a $1.9 billion acquisition was born, allowing the once-troubled Sierra to achieve a seven-year growth of 29 times better (roughly 21% annualized).
In 2005, Radius acquired its core asset, Parathyroid Hormone-related peptide abaloparatide, from Ipsen, Inc., which ranked No. 1 in Radius' all-time development rankings. Since then, the gears of fate have begun to turn, and 17 years later, 8The $900 million acquisition has enabled radius to achieve an eight-year growth of 28 times the results (roughly 18% annualized).
In 2017, Dermira acquired its core asset, Lebrikizumab, an IL-13 inhibitor, from Roche, which ranked 6th in Dermira's all-time development rankings. Since then, the gears of fate have begun to turn, and 3 years later, a $1.1 billion acquisition was born, allowing Dermira to achieve 6-year growth of 26 times this is a good result (24% per annum).
In 2011, KADMON acquired its core asset, the rock2 inhibitor belumosudil, from NT Life Sciences, which ranked No. 1 in KADMON's all-time development rankings. Since then, the gears of fate have begun to turn, and 10 years later, a $1.9 billion acquisition was born, allowing Kadmon to achieve a five-year growth of 25 times better (roughly 28% annualized).
In 2018, Viela Bio acquired its core asset, the anti-CD19 monoclonal antibody inebilizumab, from AstraZeneca, which ranked No. 1 in Viela Bio's all-time development rankings. Since then, the gears of fate have begun to turn, and 3 years later, 30 years later, was bornThe $500 million acquisition has enabled Viela Bio to achieve 22 times the miracle (roughly 79% annualized).
In 2012, ARMO acquired its core asset, PEG-IL-10 Pegilodecakin, from Merck & Co., Ltd., which ranked No. 1 in ARMO's all-time development rankings. Since then, the gears of fate have begun to turn, and 6 years later, a $1.6 billion acquisition was born, allowing ARMO to achieve a 4-month growth of 22x miracles (rough annualized not applicable).
In 2016, Myovant acquired its core asset, the non-peptide GnRH receptor antagonist Relugolix, from Takeda, which ranked No. 1 in Myovant's all-time development rankings. Since then, the gears of fate have begun to turn, and 6 years later, a $2.9 billion acquisition was born, allowing Myovant to achieve 6-year growth of 2This is twice as good (roughly 21% annualized).
In 2019, Cincor acquired its core asset, aldosterone synthase inhibitor Baxdrostat, from Roche, which ranked No. 1 in Cincor's all-time development rankings. Since then, the gears of fate have begun to turn, and 4 years later, a $1.8 billion acquisition was born, allowing Cincor to achieve 1-year growth of 21x the results (rough annualized not applicable).
In 2013, Clementia acquired its core asset, the RAR agonist palovarotene, from Roche, which ranks first in Clementia's all-time development rankings. Since then, the gears of fate have begun to turn, and 6 years later, 13 years laterThe $100 million acquisition has enabled Clementia to achieve five-year growth of 19 times better (roughly 24% annualized).
In 2016, Dova acquired Atrombopag, a core asset from Eisai, the TPO receptor agonist, which ranked No. 1 in Dova's all-time development rankings. Since then, the gears of fate have begun to turn, and 3 years later, 9The $1.5 billion acquisition has enabled Dova to achieve a two-year growth of 1Twice as much (roughly 48% annualized).
In 2006, EO acquired its core asset, the pan-target VEGFR inhibitor tivozanib, from Kyowa Hakko Kirin, which ranked No. 1 in EO's historical development rankings. Since then, the gears of fate have begun to turn, and 16 years later, 5The $6.6 billion acquisition has enabled EO to achieve 1.1 growth in 12 years1x the results (roughly 6% annualized).
In 2011, Biotie acquired its core asset, Tozadenant, an A2A receptor antagonist, from Synosia Roche, which ranked No. 1 in Biotie's all-time development rankings. Since then, the gears of fate have begun to turn, and 5 years later, 3The $6.3 billion acquisition allowed Biotie to achieve a seven-month growth of 1x (rough annualized not applicable).
Figure 1 Biotech (Fruitful Venture Capital Consolidation) where major M A occurred
Conclusion The pharmaceutical bear market has lasted for nearly 3 years, and pessimism has permeated every corner. Some companies can't recruit people, because the applicant is afraid that the company won't last long and will go out of business, and the nearby takeaway will have to roll up and leaveSome companies lay off a lot of people because the company really doesn't have so many resources to support so many employees;Some employees still work in this job, but the salary and benefits are obviously not as good as before. The same is true in the pharmaceutical investment circle, where the manager of the public offering had to resign in order to calm the resentment of the people. The wave of cancellations set off by private equity ** is more like a silent war, which happened so violently, but the influence of dissemination in the public is so low. It seems that only by escaping the entire medical circle can it be insulated from these pessimistic emotions. The cycle of the industry, thermal expansion and contraction is a very common sense behavior, but everyone understands the reason, it is still inevitable to go with the flow, it is difficult to do something that violates the normal physiology of the human body, such as suffering from pain, but shouting comfort. But often in the most pessimistic and unnoticed time, the hidden opportunities are likely to be the greatest. For companies like the ones mentioned in this article, how could the asset seller transfer them at such a low price if they knew that their assets would be worth so much money after many years? Even if someone traveled back in time at that time, thousands of admonishments, and thousands of instructions to exhort the asset seller not to sell, or to sell, but the environment at that time had already determined that the assets to be traded were worth this price, and it was impossible to sell them without much dazzling data. The same situation also applies to the pessimistic medical circle now, at the moment we are like these assets mentioned in this article that were not very conspicuous in the year, whenever we insist on a little more, work hard for a second, and push forward a little more, maybe in the future when we recall the past, we can say loudly that the gears of fate began to turn at that time.
Disclaimer: The above content is for informational purposes only and does not constitute investment advice.
Fruitful Ventures. Founded in 2019, Fengshuo Venture Capital focuses on investment in the field of big health. Fengshuo Venture Capital is a venture capital based on fundamental research, focusing on the exploration of the company's long-term development value. Through multi-dimensional cognition and continuous self-evolution, we build a complete investment system. We have trustee genes, have a sense of awe for the capital market, put risk control in the first place, and continue to create value for investors with a sniper style and professional vision.