July 14 Quick Takes: Cytokinetics accesses cash via royalty, licensing deals; plus Junshi-Revitope and Sanofi-MD Anderson

Cytokinetics in deals with Chinese biotech, investor
Cytokinetics Inc. (NASDAQ:CYTK) said it could receive $250 million in committed capital and $200 million in milestones via a series of deals with Ji Xing Pharmaceuticals Ltd. and one of its investors, RTW Investments. Ji Xing licensed exclusive rights to cardiomyopathy therapy CK-274 in China and Taiwan; the Bay Area biotech will receive an undisclosed upfront payment and up to $200 million in milestones plus royalties. Cytokinetics can opt to receive $90 million in development funding from RTW in exchange for 4% royalties on CK-274 in the U.S. and some European countries, or $45 million in funding for 2% royalties. The firm also purchased Cytokinetics’ royalties rights to cardiomyopathy candidate mavacamten, which is being developed by MyoKardia Inc. (NASDAQ:MYOK), for $85 million and made a $50 million equity investment in Cytokinetics at $25 per share. Cytokinetics rose $3.86 (16%) to $27.88 Tuesday.

Junshi taps Revitope’s T cell engager platform ...