Examples of Phase 1 deals22 Sep 2025 07:50
Examples of Phase 1 acquisitions:
AstraZeneca and EsoBiotec (2025): AstraZeneca agreed to acquire the Belgian biotech company EsoBiotec for up to $1 billion. The primary asset was an in vivo CAR-T cell therapy, a treatment approach that was still in the early stages of clinical development.
Johnson & Johnson and Proteologix (2024): In a deal worth $850 million, J&J purchased Proteologix, a company with a phase 1-ready bispecific antibody for treating severe atopic dermatitis.
Merck & Co. and EyeBio (2024): Merck acquired Eyebiotech for $3 billion ($1.3 billion upfront and $1.7 billion in potential milestones). The deal included Restoret (EYE103), a potential first-in-class treatment that was in a Phase 2b/3 trial for a different indication but was still in early testing for age-related macular degeneration (AMD). The deal also included earlier-stage candidates.
AbbVie and Cerevel Therapeutics (2023): AbbVie acquired Cerevel for $8.7 billion, largely motivated by its promising neuroscience pipeline. A key asset was emraclidine, a drug for schizophrenia and Alzheimer's disease psychosis that had passed an important early-stage safety study, a de-risking event that likely encouraged the acquisition.
AbbVie and ImmunoGen (2023): In a $10.1 billion deal, AbbVie acquired ImmunoGen to gain its antibody-drug conjugate (ADC) platform. While the deal included the approved drug Elahere, ImmunoGen's pipeline featured earlier-stage ADC prospects, including one in Phase 2 for a rare blood cancer.
Merck and Tilos Therapeutics (2019): Merck acquired the biotech startup Tilos Therapeutics to access its technology platform and innovative drug candidates, though the specific targets were in early stages of development.
Gilead and MiroBio (2022): Gilead acquired MiroBio to gain its portfolio of early-stage programs focused on agonists, which are molecules that activate receptors, for BTLA and PD-1, both part of the inflammatory disease therapeutic area.
Gilead and Tmunity Therapeutics (2022): The cell therapy unit of Gilead, Kite Pharma, acquired Tmunity Therapeutics to access its early-stage autologous CAR-T platform.
Merck and LaNova Medicines (2024): Merck paid $588 million upfront and pledged up to $2.7 billion in potential milestones for a cancer drug platform. The lead asset, a bispecific antibody, was in early-stage development.
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