It seems the latest models for Big Pharma collaborating on immuno-oncology deals is to pay large amounts up front and to go into an ongoing revenue or profit sharing arrangement.
Two very recent deals this year.
Look at what BMS just paid for Nektar… US$1.85 billion upfront and Nektar will get to keep 65% of all future profits.
If BMS wanted 100% of Nektar that would mean the total buy out price would be in the vicinity of around US $11billion,
https://news.bms.com/press-release/...nektar-therapeutics-announce-oncology-clinica
Or the Merck / Eisai partnership just announced with $5.7 billion paid in upfronts and milestones yet sharing future profits 50/50. So equivalent deal would also be around US$12 billion for a 100% buy out by Merck.
https://www.fiercepharma.com/pharma...lays-down-up-to-5-8b-for-half-eisai-s-lenvima
And it’s fair to say the pipeline that Imugene is developing with BCell vaccines and the mimitope platform is far more expansive than those involved with these two deals above!!
A year or so down the track IMU is going to be having similar conversations with either Genentech or GSK or both if all goes according to plan. Nice to have such connections firmly in place!
So in the meantime US $500 million is merely some loose change that could be thrown around by Big Pharma to progress our trials further and just get their foot in the door for a future deal.
It seems fresh buyers have barely dipped their toes in the water right now. Current market cap does nothing to reflect the stage we have already reached.
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