2024-04-23
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The most noteworthy deal in the life sciences this week is German instrument maker Bruker’s acquisition of US spatial omics company NanoString for $392 million.
Founded in 2003, NanoString was once a leader in the field of spatial transcriptomics. The company developed technologies such as GeoMx, which enabled high-resolution analysis of gene expression in tissue samples. These technologies made significant contributions to scientific research in fields such as cancer, immunology, and neuroscience.
However, NanoString lost a key patent lawsuit over its GeoMx product in 2023 and was ordered to pay 10X $31 million in damages. NanoString was unable to pay and filed for bankruptcy in February 2024. Its market value declined from once $3.7 billion to less than $7 million at the time of its bankruptcy.
Bruker has pledged to continue developing and supporting NanoString’s products. However, NanoString users have being accustomed to the company’s quick response and personalized support service. It remains to be seen whether Bruker can provide the same level of service.
NanoString being acquired also alarmed Chinese companies in the life sciences. Some Chinese companies have engaged in areas where NanoString is expertised, such as RNA detection, spatial omics, and single-cell multi-omics. They are gaining prominence in the global market with their strong R&D capabilities and understanding of the Chinese market.
Peter Zhang
Partner, YAFO Capital
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本周生命科学领域最受关注的交易是德国仪器制造商Bruker以3.92亿美元收购美国空间组学公司NanoString。
NanoString成立于2003年，曾是空间转录组学领域的领军企业。该公司开发了GeoMx等技术，可以对组织样本中的基因表达进行高分辨率分析，为癌症、免疫学和神经科学等领域的科学研究做出了重大贡献。
然而，NanoString在2023年在一场针对其GeoMx产品的关键专利诉讼中败诉，被判向10X支付3100万美元赔偿金。公司无力偿还债务，于2024年2月申请破产，公司市值也从最高37亿美元跌至破产时的不到700万美元。
Bruker承诺将继续开发和支持NanoString的产品。然而，用户已经习惯了NanoString快速响应和个性化的支持服务，Bruker能否提供同等水平的服务还有待观察。
NanoString的被收购也为中国公司在生命科学领域的崛起敲响了警钟。RNA检测、空间组学和单细胞多组学等NanoString的优势领域均有多家中国公司布局，比如善准、华大基因和新格元等。这些公司正凭借其强大的研发能力和对中国市场的了解，在全球市场上崭露头角。
Peter Zhang
Partner, YAFO Capital
1. Summary of the week
Between April 12 and 19, there were 9 licensing and cooperation agreements signed worldwide. In the China biotech industry, Escugen and AnkeBiotechnology sealed a domestic licensing deal for an ADC Program. The collaboration between the University of Michigan and Menovo for a GLP-1 Asset highlights the importance of academic-industry partnerships in advancing research and development. On a global scale, 7 such deals were finalized. Of these, the most notable was the cooperation and licensing agreement between MedinCell and AbbVie, which involved an initial payment of $35 million and a total deal valuation of $1,935 million, making it the standout transaction of the week.
4月12日-19日，全球生物医药市场共有9笔资产授权与合作交易。中国市场有2笔，安科生物与诗健生物达成的ADC平台技术授权合作，以及美诺华与美国密西根大学开发GLP-1递送系统的校企战略合作。国际市场上有7笔交易，其中最引人注目的一笔为Abbvie与MedinCell达成的首付35百万美元、总价值1,935百万美元的交易。
2. Licensing Deals
2a. China section
2b. Global section
3. Top Deals of the year 2024
5. 2019-2023 China Innovative Drug Licensing Transactions
About YAFO Capital
Founded in 2013, YAFO Capital is a Shanghai based boutique investment and advisory firm, with professional team in our China, U.S., and London offices. Partnering with Pharmaceutical companies, YAFO Fund mainly invests in global assets. YAFO Life Sciences is a leading advisory boutique focused on asset transactions. YAFO has built a strong proven track record and closed dozens of in-licensing and out-licensing transactions with global pharma and biotech companies. YAFO has been ranked as the No. 1 advisor for China cross border licensing transactions in the past three years. For more information, please visit http://www.yafocapital.com
雅法资本成立于2013年，作为新型投资和投行咨询机构，致力于中国及海外生物医药项目的投资、融资服务、产品引进和资产孵化等。雅法在生物医药跨境授权及并购业务领域过往三年交易数量排名第一。旗下雅法基金联合药企进行资产投资和并购，雅法全球医疗专注于医药产品跨境及国内授权交易。基于雅法在全球广泛的人脉与资源网络，在过去十年成功推进了大量的海外项目进入中国市场并协助多个中国产品完成海外授权。雅法拥有经验丰富的全球交易团队，覆盖美国、日本 、欧洲等全球主要医药创新区域。核心合伙人均为华尔街资深投行人士或具有跨国药企经历，为客户交易提供强力支持。雅法总部位于上海，在伦敦、洛杉矶、东京、米兰、剑桥等地均设有分部。
ACCESS CHINA
Event Name: ACCESS CHINA Partnering Forum @BIO
Date & Time: June 3-20, 2024
Venue: San Diego & Online
Content: Keynote Speeches, Panel Discussion, Virtual Roadshows, Dinner Reception, 1X1 meetings
Scale: Expected 1000 participants Online, 150 participants onsite; 100 company roadshows
Participants: Pharma/Biotech senior management and BDs.
Registration Link: https://jinshuju.net/f/AqkB9m
BioToChina.org 