Healthcare & Life Sciences News & Trends: Jan Week 3
Healthcare & Life Sciences News & Trends: Jan Week 3
1. Business Moves
i. German Chemicals Firm Munzing Opens APAC HQ in Singapore
Munzing, a German chemical company, opened its first office in Singapore to capitalise on regional opportunities. The facility in Jurong’s International Business Park will serve as its Asia-Pacific headquarters (APAC). The company plans to nearly double its workforce by 2025, focusing on supply chain management, R&D, and customer service roles. Munzing also established a 500 sq m warehouse, with plans to expand to 3,000 sq m by year-end.
Takeaway: The move highlights Singapore’s appeal as a logistics and financial hub, with a skilled workforce, a stable legal environment, and a focus on innovation. This expansion contributes to Singapore’s growing chemicals sector, which attracted $4.5 billion in investment in 2023.
ii. Siloam Keen to Buy First Reit’s Indonesia Hospital Portfolio
Siloam International Hospitals expressed interest in acquiring the hospital portfolio of First Real Estate Investment Trust (Reit) in Indonesia, where it is already the operator and tenant. The portfolio includes 15 properties, with 11 hospitals among them. First Reit’s manager is conducting a strategic review to evaluate the non-binding offer and explore options, such as joint ventures, partnerships, acquisitions, or divestments. Siloam, a major tenant contributing nearly 39% of First Reit’s rental income, is majority-owned by CVC Capital Partners. However, no deal has been finalised, and further negotiations or agreements are uncertain.
iii. J&J to Buy Biotech Intra-Cellular for $14.6b
Johnson & Johnson finalised an agreement to acquire Intra-Cellular Therapies for $14.6 billion, paying $132 per share.
Context: Intra-Cellular Therapies is a biotech company specialising in treatments for central nervous system disorders. The acquisition includes Intra-Cellular’s promising schizophrenia and bipolar treatment, Caplyta, which is expected to expand into the treatment of major depressive disorder. It follows a recent patent settlement granting Caplyta market exclusivity until 2040.
Takeaway: Johnson & Johnson’s acquisition strengthens its CNS pipeline, which includes promising assets like ITI-1284 and ITI-333. This move aligns with a growing trend in the industry, where firms are investing heavily in CNS and neurodegenerative disease treatments due to the expanding patient market, particularly in the context of global mental health challenges and ageing populations. This deal marks the largest biopharma deal in 11 months.
iv. Eli Lilly Acquires Scorpion’s STX-478 for $2.5b
Eli Lilly announced its acquisition of Scorpion Therapeutics’ PI3Kα inhibitor project, STX-478, for up to $2.5 billion.
Context: STX-478 is an oral, mutation-selective PI3Kα inhibitor currently in Phase 1/2 trials for breast cancer and other advanced solid tumours. The trial has shown promising anti-tumour activity and good tolerability. Initial data presented at the 2024 ESMO conference revealed an overall response rate of 21% across all tumour types, with higher responses in breast and gynaecological cancers. STX-478 showed good safety profiles, including in diabetic and heavily pretreated patients.
Takeaway: For Eli Lilly, the acquisition strengthens its oncology pipeline and provides a strategic entry into precision medicine, while Scorpion gains valuable resources to accelerate drug development and commercialisation. This deal highlights the growing opportunities in the oncology market driven by increasing cancer prevalence and ageing populations.
v. Normunity Raises $75m Series B to Advance Drug Programme
Normunity raised $75 million in Series B financing to advance its lead drug programme, NRM-823, a novel T cell engager targeting a tumour-specific protein found in multiple solid tumours. This funding, co-led by Samsara BioCapital and Enavate Sciences with participation from Pfizer Ventures and Regeneron Ventures, will support the Phase 1 clinical trial of NRM-823, set to begin in the second half of 2025. The funds will also expand Normunity’s pipeline of anti-cancer therapies, focusing on untapped immune suppression mechanisms in tumours. This progress is built on the company’s proprietary discovery process in collaboration with Yale University’s Professor Lieping Chen.
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Image Credits:
- Munzing
- DealStreetAsia