Avid Bioservices Inc (CDMO)

[biopharm]

PS Targeting vs PI3K....and Gileads phase III was stopped due to a safety risk increase.
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PI3K is one of the hottest pathways in biotech, and compounds that inhibit it have been the objects of some major deals. Roche AG acquired Piramed Ltd. for $175 million on the strength of its PI3K assets in 2008. More recently, Intellikine Inc. licensed its PI3K delta and gamma inhibitors to Infinity Pharmaceuticals Inc. for $488.5 million, and then later was acquired by Takeda Pharmaceutical Co. for $190 million up front, and $120 million in milestones. (See BioWorld Today, April 16, 2008, July 9, 2010, and Dec. 22, 2011.)

And, in fact, Gilead's PI3K compound, GS-1101, came from its acquisition of Calistoga Pharmaceuticals Inc. for $375 million. (See BioWorld Today, Feb. 23, 2011.)

....just like there are lots of possible combo partners for Bavituximab, PI3K candidates still out there and looks like AZ digging their feet in further here...

AstraZeneca completes transaction for majority equity stake investment in Acerta Pharma

02 February 2016

AstraZeneca today announced that it has completed the transaction to acquire a majority equity stake in Acerta Pharma, a privately-owned biopharmaceutical company based in the Netherlands and US. The transaction, announced in December 2015, provides AstraZeneca with a potential best-in-class irreversible oral Bruton's tyrosine kinase (BTK) inhibitor, acalabrutinib (ACP-196), currently in Phase II/III development for B-cell blood cancers and in Phase I/II clinical trials in multiple solid tumours.

Upon completion of the agreement, AstraZeneca acquired 55% of the entire issued share capital of Acerta for an upfront payment of $2.5 billion and a further unconditional payment of $1.5 billion, to be paid either on receipt of the first regulatory approval for acalabrutinib for any indication in the US, or the end of 2018, depending on which is first.

An extensive development programme is underway for acalabrutinib with the opportunity for initial regulatory submissions in the second half of 2016 for the treatment of patients with specific types of haematological malignancies. Expanding further into B-cell cancers, acalabrutinib is estimated to reach potential peak-year sales in excess of $5 billion globally.

The investment also establishes in-house expertise for AstraZeneca in blood cancers, through the substantial expertise offered by Acerta’s approximately 150 employees.

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About Acerta Pharma

Acerta is a leader in the field of covalent binding technology and is applying this technology to create novel selective therapies intended for the treatment of cancer and autoimmune diseases. Acerta’s lead molecule, acalabrutinib (ACP-196), is a selective and potent inhibitor of BTK. Acerta is also developing ACP-319, a novel isoform selective inhibitor of phosphoinositide 3-kinase (PI3K) delta. The company has operations in Oss, the Netherlands and multiple US sites. The US headquarters is in Redwood City, CA.
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https://www.astrazeneca.com/our-company/media-centre/press-releases/2016/astrazeneca-completes-transaction-for-majority-equity-stake-investment-in-acerta-pharma-01022016.html

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AstraZeneca enhances long-term growth through Oncology investment in Acerta Pharma

Dec 17, 2015

Investment establishes in-house expertise in blood cancers and complements strategic use of immunotherapy in haematological malignancies and solid tumours
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Pascal Soriot, Chief Executive Officer of AstraZeneca, said: “The investment is consistent with our focus on long-term growth and reflects the role targeted business development plays in our business model. We are boosting a key area in our comprehensive oncology portfolio with a late-stage, potential best-in-class medicine that could transform treatment for patients across a range of blood cancers.”

“Acalabrutinib provides us with a small molecule presence in blood cancers to complement our existing immunotherapy approach, in collaboration with Celgene in haematological malignancies. Furthermore, we look forward to working closely with the Acerta team and benefiting from the considerable clinical expertise they bring in this complex area of medicine.”
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https://www.astrazeneca.com/our-company/media-centre/press-releases/2015/AstraZeneca-enhances-long-term-growth-through-Oncology-investment-in-Acerta-Pharma.html