Roche's Landmark Partnership, mRNA Investments, Stroke Prevention Drug Approval, and Other Trending June 2024 Healthcare Highlights

In the third week of June 2024, the healthcare industry was exposed to a series of impactful developments and initiatives that are set to affect the market dynamics and patient care. Many pharmaceutical companies entered strategic alliances to converge biotechnological expertise and expand their offerings. The events also reflected the growing importance of mRNA technology in revolutionizing healthcare solutions and the crucial role of regulatory bodies in ensuring market access to affordable and effective therapies. 

Let's explore the standout events of the week and learn how these developments are stimulating the progress of modern healthcare.

Roche Partners with Ascidian in USD 1.8 Billion Deal to Develop RNA Exon Therapeutics

On June 18, 2024, Ascidian Therapeutics, a Biotech firm specializing in clinical gene therapy entered a potential USD 1.8 billion partnership with the leading Swiss pharmaceutical company F. Hoffmann-La Roche AG to develop RNA exon editing therapeutics targeting difficult-to-treat neurological diseases. Ascidian will receive USD 42 million in upfront cash and up to USD 1.8 billion in clinical, research, and commercial milestones, along with royalties on sales globally. Under the agreement, Roche will attain target-specific rights to Ascidian's RNA exon editing technology for an unspecified number of neurological targets. Moreover, Ascidian will collaborate with Roche to conduct discovery and preclinical work to find treatments for complex neurological diseases leveraging large-scale exon editing RNA techniques.

James Sabry, Roche's global pharma head added, “Our partnership with Ascidian is an opportunity to harness advanced RNA exon editing technology, which has the potential to deliver transformative one-time therapeutics by editing multiple whole exons at the RNA level with a single treatment,”

Such substantial financial commitment is likely to accelerate the development and commercialization of RNA exon editing therapeutics. This might lead to the introduction of novel treatments for neurological diseases, which is poised to positively influence the neurological disease treatment market. As per the EMR calculations, the neurological disease treatment market size is expected to grow at a CAGR of about 5.7% in the forecast period of 2024-2032 and is anticipated to benefit from such strategic partnerships.

Boston Scientific Expands its Minimally Invasive Procedure Portfolio with a Strategic Acquisition

June 18, 2024, marked a major development in the healthcare landscape as Silk Road Medical, Inc., a pioneering minimally invasive medical device company specializing in carotid artery procedures signed a definitive agreement for its acquisition by global medical technology leader Boston Scientific Corporation. The acquisition costed around USD 27.50 cash per share, making the enterprise value worth USD 1.16 billion. Silk Road Medical is known for its transcarotid artery revascularization (TCAR) platform of products that helps to prevent stroke in carotid artery disease patients through a minimally invasive procedure.

The acquisition will add Silk Road Medical's innovative technology for stroke prevention to Boston Scientific's vascular portfolio, which has the potential to foster innovation and influence competition in the peripheral vascular disease market. Elaborating on the recent acquisition, Cat Jennings, president, Vascular, Peripheral Interventions, Boston Scientific added "We believe the addition of this clinically differentiated technology to our vascular portfolio demonstrates our continued commitment to provide meaningful innovation for physicians who care for patients with peripheral vascular disease."

The closing of the transaction of this acquisition is expected in the second half of 2024, upon which Silk Road Medical will turn into a wholly owned subsidiary of Boston Scientific.

Cipla EU Adds EUR 3 Million Investment in Ethris to Fast-track mRNA-based Therapeutics

On June 18, 2024, a substantial investment of EUR 3 million was made by Cipla (EU) Limited (UK-based wholly-owned subsidiary of Cipla Limited) for the second time in Ethris GmbH to reinforce its participation in the mRNA-based therapeutics space. Ethris is a German biotech firm known for its RNA therapeutics that are delivered directly to the respiratory system and is involved in a long-term strategic alliance with global pharmaceutical company Cipla to expedite the development of respiratory mRNA-based medicines.

The healthcare sector is experiencing a notable demand for mRNA-based therapies due to their potential in several indications such as therapeutic cancer vaccines, infectious disease vaccines, and protein replacement therapies. This is attracting many investors and pharmaceutical giants to venture into the mRNA space. For instance, Cipla’s confidence in the proprietary mRNA platform of Ethris prompted it to invest in cutting-edge healthcare solutions for the second time. Its first investment in Ethris was made in 2022 amounting to EUR 15 million.

The financial support from the Cipla subsidiary will help Ethris advance its pipeline of innovative therapeutics. Concluding the investment activity, Ethris' CEO Dr. Carsten Rudolph said, “The additional investment by Cipla further validates the broad potential of our platform and Ethris’ innovative approaches to developing respiratory RNA-based medicines. We deeply value this ongoing relationship to bring effective solutions to developing countries. The capital will enable us to continue advancing our pipeline and we look forward to providing an update on our lead program in the near term,”

Metropolis Healthcare Opens Regional Reference Laboratory in Kenya to Expand African Footprint

Metropolis Star Lab Kenya Limited, a subsidiary of Metropolis Healthcare Limited (an Indian multinational chain of diagnostic labs), inaugurated its Regional Reference Laboratory in Nairobi, Kenya on June 17, 2024, to expand its market presence in Africa. For Metropolis, Africa is a major market with lucrative growth opportunities, with several of its operations running in Zambia, Kenya, Tanzania, Ghana, and Uganda, as well as strategic partnerships with other African nations. In Kenya also, Metropolis Labs has had a strong presence for over 10 years with 21 diagnostic centers across the country, and the introduction of a new and the largest regional reference lab strengthens its capability to deliver world-class diagnostic testing services to the community.

The all-new advanced diagnostic laboratory includes a diverse range of specialties such as molecular biology, hematology, immunology, microbiology, histology, and cytology. It spans an area of 6000 square feet and can process around 35,000 to 40,000 samples in a month. Such investments in advanced diagnostic facilities are significantly contributing to the healthcare infrastructure development in the African countries.

U.S. FDA clears Alembic Pharmaceuticals’ Generic Drug Indicated for Stroke Prevention

India-based generic drug manufacturer Alembic Pharmaceuticals Limited announced a major regulatory win on June 18, 2024, as the United States Food and Drugs Administration (FDA) granted approval to its Abbreviated New Drug Application (ANDA) for Dabigatran Etexilate Capsules (75 mg and 150 mg) indicated for stroke prevention in adult patients. Dabigatran Etexilate Capsules can help reduce the risk of stroke and systemic embolism in non-valvular atrial fibrillation, along with reducing the recurrence risk of pulmonary embolism and deep venous thrombosis in adult patients. It is a generic version of the reference listed drug product (RLD), Pradaxa Capsules, 75 mg, 110 mg, and 150 mg developed by Boehringer Ingelheim Pharmaceuticals, Inc. The company also received Tentative approval for Dabigatran Etexilate Capsules, 110 mg, by the FDA.

The entry of generic Dabigatran Etexilate Capsules is likely to expand the availability of lower-cost alternatives for patients who need anticoagulant therapy, which is poised to propel growth in the generic drugs market in the United States. The Expert Market Research estimations suggest that the United States generic drug market size is expected to grow at a CAGR of 12% in the forecast period of 2024-2032 and is anticipated to reach a value of approximately USD 453.98 billion by 2032 driven by the growing demand for cost-effective healthcare solutions and a favourable regulatory environment.

These recent developments in the third week of June 2024 represent a pivotal role in influencing the dynamics of the healthcare sector and patient outcomes worldwide. From strategic partnerships to investment in innovative therapies, these events promise the development of novel treatments, improved access to advanced medical technologies, and increased competition in pharmaceutical markets.