Pharma BD Deal Intelligence

CSL Behring (CSL Limited) / Calimmune, Inc.

2017 · Acquisition/Merger · $416M · Complete

A $91M upfront, $416M total-value acquisition that ended with zero approved products: CSL shut down the entire Calimmune-derived Pasadena R&D site by January 2025 after CAL-H's Phase I trial was terminated, part of CSL's broader retreat from lentiviral gene therapy.

WRONG BY 35 POINTS

Seven years and an upfront $91M later, CSL shut down the entire Calimmune-derived R&D site with no approved product and a terminated Phase I trial.

Full analysis, sources & comparables →

The coverage arc

Aug 28, 2017 BioPharma Dive Neutral

CSL Behring paid $91M upfront for early-stage gene therapy assets, marking the plasma giant's deepest move into ex vivo HSC gene therapy.

Aug 28, 2017 Fierce Biotech Bullish

CSL Behring is buying Calimmune for an early-stage stem cell and gene therapy boost, adding CAL-H plus the Select+ and Cytegrity manufacturing platforms aimed…

Aug 01, 2024 Fierce Biotech Bearish

CSL Behring is shutting its Pasadena cell-and-gene therapy R&D site as part of a broader pivot away from ex vivo lentiviral vector gene therapy, affecting…

Source summaries from our enrichment pipeline; follow links for originals.

All 5 sources with sentiment breakdown →

CSL Behring agreed to acquire Calimmune for $91M upfront plus up to $325M in performance-based milestones over ~8+ years (~$416M total). The deal added the preclinical CAL-H stem cell gene therapy for sickle cell disease/beta-thalassemia plus Calimmune's Select+ enrichment and Cytegrity manufacturing platform technologies. CSL later refocused away from lentiviral gene therapy.

Did it work? Outcome assessment

Seven years and an upfront $91M later, CSL shut down the entire Calimmune-derived R&D site with no approved product and a terminated Phase I trial.

Strategic verdict
Failed to Achieve

Key facts

Disease & market context

Sickle Cell Disease

Disease Overview

Sickle cell disease is an inherited red blood cell disorder caused by mutation in the beta-globin gene that causes hemoglobin to polymerize and red cells to sickle, leading to vaso-occlusion, chronic hemolytic anemia, organ damage and recurrent pain crises. The disease disproportionately affects people of African ancestry and historically had limited disease-modifying options beyond hydroxyurea and chronic transfusion. Beta-thalassemia, a related hemoglobinopathy, leaves patients transfusion-dependent for life.

Competitive Landscape

At deal time (Aug 2017), the SCD treatment landscape was dominated by hydroxyurea and supportive care; Endari (L-glutamine, Emmaus) had just received FDA approval (July 2017) and Adakveo (crizanlizumab) and Oxbryta (voxelotor) were still pre-approval. The transformative therapeutic horizon was lentiviral and CRISPR gene therapy: bluebird bio's LentiGlobin (later Zynteglo/Lyfgenia) was the most advanced ex vivo lentiviral program for SCD and beta-thalassemia, with Sangamo/Bioverativ pursuing zinc-finger BCL11A approaches and CRISPR Therapeutics/Vertex (CTX001, later Casgevy) emerging. Calimmune's preclinical CAL-H gave CSL Behring an entry alongside the Select+ enrichment and Cytegrity manufacturing platforms — directly addressing the scale-up bottleneck that would later constrain commercial gene therapy launches. CSL framed the deal as complementary to its plasma-based hemophilia franchise (Hemgenix later validated CSL's commitment to gene therapy), but the ex vivo lentiviral approach proved harder than expected: CSL ultimately paused its lentiviral SCD program and shut its Pasadena cell-and-gene therapy hub in 2024, while the post-deal market was won by Casgevy and Lyfgenia (FDA-approved December 2023, priced $2.2M and $3.1M respectively per Fierce Pharma). [https://www.fiercebiotech.com/biotech/csl-behring-buys-calimmune-for-early-stem-cell-gene-therapy-boost]

Related deals — scored

DealYearValueOutcome
CSL Behring (CSL Limited) / Calimmune, Inc. (this deal)2017$416M15
Amgen Inc. / Micromet Inc.2012$1.2B88
Servier / Shire plc (Oncology Business)2018$2.4B88
AstraZeneca PLC / Alexion Pharmaceuticals Inc.2020$39.0B86
Swedish Orphan Biovitrum AB / Biovitrum2001$493M84
Otsuka Pharmaceutical Co. Ltd. / Astex Pharmaceuticals2013$886M79
AbbVie Inc. / Pharmacyclics Inc.2015$21.0B79

Compare all 7 side-by-side →

See the full interactive analysis, sources & comparables →