| 12.13.21 | Pfizer deploys COVID cash for $6.7B Arena buy; Lilly's deepens Loxo bench with $1.3B Foghorn biobucks deal

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Today's Rundown

Pfizer books Arena for immuno-inflammatory portfolio in $6.7B deal Eli Lilly puts $1.3B in biobucks on the line for Foghorn's oncology programs Tidy up your labs, biotech. Pfizer is coming with ‘significant firepower’ and cash to burn Sponsored: 7 Applications for Formalin-Fixed Paraffin-Embedded (FFPE) Tissue Specimens ASH: 2 years in, the survival data on J&J's rival to Bristol Myers' BCMA cell therapy are still growing Intellia doses first patient as hereditary angioedema gene editing therapy lands in clinic Former Iterum VP returns as medical chief to give ex-Pfizer antibiotic another shot at approval CSL confirms buyout interest in Vifor, and a deal could come soon: report The top 10 M&A targets in medtech for 2022 Preventing cancer metastasis by keeping dormant tumor cells asleep with collagen From 340B to short-term health plans: Here are the top 4 regulations to watch for in 2022

Featured Story

Pfizer books Arena for immuno-inflammatory portfolio in $6.7B deal

By Annalee Armstrong

Arena Pharmaceuticals has been in need of a new R&D show since a phase 2 pain drug flopped earlier this year, and, now, the biotech has landed the biggest ticket in town: Pfizer. The Big Pharma will add Arena to its bill in a deal valued at $6.7 billion, bringing on a suite of immuno-inflammatory disease candidates that target patient populations with an unmet need.

This week's sponsor is Bio-Rad.

Eli Lilly puts $1.3B in biobucks on the line for Foghorn's oncology programs

By Kyle LaHucik

Eli Lilly has inked a $380 million deal for access to multiple discovery-stage oncology programs from Foghorn Therapeutics. The co-development and co-commercialization agreement gives Lilly access to potential treatments targeting a mutation that is found in about 5% of all tumors.

Tidy up your labs, biotech. Pfizer is coming with ‘significant firepower’ and cash to burn

By Annalee Armstrong

Inquiring minds have wanted to know: what does Pfizer, loaded up with buckets of cash from the successful COVID-19 vaccine Comirnaty, want to buy? Executives gave a preview of what else they want on an investor call to discuss the $6.7 billion acquisition of Arena Pharmaceuticals this morning.

Responses to Johnson & Johnson’s BCMA CAR-T therapy are going on and on and on. After a median follow-up of 22 months, a phase 1b/2 clinical trial of the Legend Biotech-partnered cell therapy is yet to hit the median progression-free or overall survival, suggesting the drug has an edge over Bristol Myers Squibb’s rival product Abecma.

Intellia doses first patient as hereditary angioedema gene editing therapy lands in clinic

By Annalee Armstrong

After making headlines this summer with first-in-human gene editing results, Intellia’s next therapy has officially landed in the clinic in patients with hereditary angioedema. The company said Monday it had dosed the first patient in the phase 1/2 clinical trial of NTLA-2002.

Former Iterum VP returns as medical chief to give ex-Pfizer antibiotic another shot at approval

By Kyle LaHucik

Iterum Therapeutics is hoping it can secure an FDA approval after getting rejected by the agency in July, but first it needs a medical leader in place. The biotech rehired Sailaja Puttagunta, M.D., a former vice president, to get its oral antibiotic through another trial in hopes of scoring an approval.

CSL confirms buyout interest in Vifor, and a deal could come soon: report

By Kevin Dunleavy

Australian biotech CSL is eying Vifor Pharma and the buyout could come as soon as Tuesday, The Australian reports. On Monday, amid speculation about the possible deal, CSL confirmed the talks.

The top 10 M&A targets in medtech for 2022

By Andrea Park,Conor Hale

Even as 2021 looks to be a landmark year for medtech M&A, all signs point to 2022’s tally dwarfing this year's. M&A trends for 2022 will likely shake out into two broad categories: larger players looking for bolt-on deals and mid-size companies wanting to consolidate. And when it comes to who’s buying, the short answer is: everyone.

Preventing cancer metastasis by keeping dormant tumor cells asleep with collagen

By Arlene Weintraub

Mount Sinai researchers discovered that cancer cells stay dormant by secreting a specific type of collagen protein into their environment. They believe the finding could inspire new methods for predicting and preventing cancer metastasis.

From 340B to short-term health plans: Here are the top 4 regulations to watch for in 2022

By Robert King

HHS released its unified agenda that details regulations it is planning for next year, including potential regulations for short-term plans and the 340B program.

Biotech Innovators: How it Started

Podcast Series: Each month, discover an inspirational story of business leaders who are making a lasting impact in the life sciences and biotech space. Listen to the podcast.