Swiss big pharma Roche has agreed to license ZW209, an experimental cancer immunotherapy from Vancouver-based Zymeworks, for $55 million upfront and up to $758 million more in conditional payments, plus royalties on future sales. The agreement returns Roche to DLL3, a lung cancer target it previously pursued with a different antibody.
Every Friday, The Leadership Edit follows people taking new roles across European biotech and what their moves may tell us about the companies they join. This week: a hearing-loss specialist adds clinical leadership, a radiopharmaceutical developer strengthens drug discovery and a gene-editing company changes finance chief.
Switzerland’s Roche has discontinued RG6540, an experimental off-the-shelf CAR-T therapy targeting the CD19 and CD20 proteins, less than two years after agreeing to acquire its developer, Poseida Therapeutics, for up to $1.5 billion (€1.3 billion). Roche has not explained the reasons for the decision, but CEO Thomas Schinecker told reporters that the acquisition had yielded other CD19/CD20 candidates he considers superior.
Italy’s Menarini Group will pay Maryland biotech Georgiamune $45 million (€40 million) in upfront and near-term payments, in a deal worth up to $1.1 billion (€1.0 billion) plus royalties, for worldwide rights to an oral cancer immunotherapy that has yet to enter human trials.
Swedish private equity firm EQT wants to acquire diagnostics specialist Qiagen for €10.8 billion, or €46.50 per share. The company’s leadership unanimously supports the sale. Completion is planned for mid-2027 if more than 50% of shareholders agree.
An experimental oral drug for early Alzheimer’s disease has produced positive Phase 1 results, including shifts in spinal-fluid markers of brain immune activity and neuronal stress in older volunteers toward levels seen in younger people, Danish biotech Muna Therapeutics reported. The drug, MNA-001, was also well tolerated, with no serious adverse events or adverse-event-related discontinuations reported.
Icelandic biotech Arctic Therapeutics has raised $21.5 million (€19.1 million) in an oversubscribed round to take two drug candidates for autoimmune disease toward the clinic.
Beyond the main headlines, European biotech kept moving this week. This edition of Meanwhile in Biotech covers cancer vaccine follow-up, changes to kidney and obesity trials, and two developments in AI-enabled drug discovery. Here are six updates worth catching up on.
British rare disease specialist Ambrose Healthcare has acquired Dutch biotech AM-Pharma for up to €161 million, adding an enzyme replacement therapy to its pipeline and a development base in Utrecht.
The Swiss pharmaceutical group has agreed to another, deeper ADC partnership with China’s Hansoh Pharma, with potential milestone payments exceeding $15 billion. The deal comes amid mixed developments: While China wants to do more to protect its biotech technologies from flowing abroad, Roche’s new investment decisions in Germany are on hold for now.