Cancer drugs that deliver chemicals directly to tumours are having a bit of a moment. Pharmaceutical companies are making these so-called antibody-drug conjugates the technology of choice in oncology deal-making, as illustrated by last week’s $10.1 billion acquisition of ImmunoGen by AbbVie.
If that trend sounds vaguely familiar, you have probably been following the pharma industry for too long. The field has gone through waves of hype and investment over the past several decades. This time, though, the hype is deserved.
After decades of fits and starts, the science around designing and testing this class of drugs has finally coalesced. The concept of deploying powerful chemo drugs to cancer cells in a targeted, safer way always made sense; now, companies know how to do it in a manner that could make them a staple of cancer care.
That’s reflected in pharma companies’ sudden deep commitment to the space. In addition to AbbVie’s acquisition, other deals this year include Pfizer’s proposed $43 billion buyout of Seagen, Merck & Co’s $4 billion tie-up with Daiichi Sankyo, and a series of smaller investments from Bristol-Myers Squibb and Eli Lilly & Company.
It has taken a while to get here.
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