In the pharmaceutical industry, stakeholders are known to adopt a variety partnership models. Such initiatives not only allow the companies to expand their respective product / therapy, but also to gain additional capabilities in emerging technologies. In the domain of TIL-based therapies, eleven different types of partnership deals were found to be inked between different stakeholders. These include, acquisition, clinical trial agreement, joint venture, manufacturing agreement, product development agreement, product development and commercialization agreement, product licensing agreement, product supply management agreement, R&D agreement, technology licensing and others.
During our research, we came across several partnership agreements, inked during the period 2005-2020 (till October). The number of partnerships has increased at a CAGR of 53%, between 2014 and 2020. It is important to highlight that maximum number of partnerships were recorded in 2017, 2018 and 2019, followed by 2015 (6). Majority of the deals signed in 2016, were R&D agreements, followed by agreements signed for technology licensing, clinical trial agreements and manufacturing agreements.
Majority (33%) of the agreements were signed for R&D (13) and technology and product licensing (8) of TIL-based products. This is followed by agreements focused on manufacturing (15%), clinical trials and product supply management, which account for 5% each of the total partnerships inked in this domain, respectively. Recent examples include the product licensing agreement signed between Iovance Biotherapeutics and TrakCel in September 2017.
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The technological advancements in this domain, and the promising results of preclinical / clinical studies of various product candidates have garnered the attention of several investors. Given the innate advantages offered by immunotherapeutics, this emerging market has done exceedingly well in terms of raising funds. The strong and steady performance, in terms of research-related advances and flow of finances, has been favorable to this market. Investments from venture capital investors have helped start-ups, such as Iovance Biotherapeutics and Cellular Biomedicine Group, to become the current leaders in the TIL-based therapies market.
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Given the current trend, it can be stated that investment from venture funding rounds is a key enabler for growth in the TIL-based therapies market. Companies in this domain have raised significant capital through venture rounds (30%), amounting to USD 68 billion. Some big-ticket investments include (in decreasing order of amount) Iovance Biotherapeutics (USD 170 million) and Cellular Biomedicine Group (USD 10 million). This is followed by secondary offerings, which account for 24% of the total number of instances, amounting to USD 1.1 billion. Further, we came across 4 instances of venture capital investments received by companies from various industrial and non-industrial organizations. Examples of the players that have received venture capital investments include (in decreasing order of amount) Achilles Therapeutics, Instil Bio, PACT Pharma, Intrexon, KSQ Therapeutics and Phio Pharmaceuticals.
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