Pharmaceutical Companies

Enthorin will receive an upfront payment and an option exercise fee, alongside milestone payments tied to development, regulatory and commercial progress.

Formation Bio will serve as the fund’s general partner through a wholly owned subsidiary and has committed its own capital alongside external limited partners.

The deal also gives Ferring access to early-stage cell therapies and research models targeting other women’s health needs.

Under the agreement, Astellas will pay up to US$285 million in upfront and potential future option exercise payments, alongside up to US$1.05 billion in development and commercial milestones.

Talzenna (talazoparib), a PARP inhibitor, is used alongside Xtandi (enzalutamide), an androgen receptor inhibitor, to target cancer through complementary mechanisms.

The closure comes as Teva continues to restructure its business under its Pivot to Growth strategy, launched after Richard Francis became chief executive in 2023.

The initiative builds on two years of collaboration following a memorandum of understanding signed by DoH and Novartis on 5 June 2024.

RadNet could also pay an additional earnout of up to US$210 million if ONRAD achieves specified earnings before interest, taxes, depreciation and amortisation (EBITDA) targets for 2027.

The agreement extends the biotechnology company’s partnership with the Biomedical Advanced Research and Development Authority (BARDA), established in 2020.

Once expanded, the facility could have a total reactor volume exceeding 400 m³, increasing the company’s capacity to develop and manufacture active pharmaceutical ingredients (APIs).