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Table of contents
How the market performed this week
Licenses / Partnerships
Clinical trials
Financing
RIF
Disease of the week
What I’ve read this week
Paid Content Section
Upcoming Catalysts Next Week
Reminders
Biotech Valuation
Most Shorted Biotech Stock as of This Week
Market
Notes from analysts
Venture Capital Market
M&A
How the market performed this week
ETFs
Gene Therapy
RNA Therapy
Big Pharma
Gainers / Decliners this week in biotech
News of the week
Licenses/Partnerships
Precision BioSciences, Inc.
Symbol: DTIL
Event Phase: Preclinical
Drug: Azer-cel
Indication: Autoimmune Disorders
Lead Indication: N
Molecule: Cellular Allogeneic Chimeric Antigen Receptor T-cells (CAR-T), Cluster of Differentiation 19 (CD19), Immune System, Stem Cells/Other Cell Therapies
Target: Not specified
LOA: Not specified
Partner Companies: Imugene Limited (IMU), Takeda Pharmaceutical Co. Ltd. (TAK), TG Therapeutics, Inc. (TGTX)
Perspective Therapeutics, Inc.
Symbol: CATX
Event Phase: II
Drug: VMT-??-NET
Indication: Neuroendocrine Tumors (NET) - Imaging
Lead Indication: N
Molecule: Small Molecule Melanocortin (MC) receptors, Somatostatin Receptors
Target: 11%
Partner Companies: Lantheus Holdings, Inc. (LNTH)
Source Link: Lantheus Expands Radiopharmaceutical Oncology Pipeline via Strategic Agreements with Perspective Therapeutics
Immunome Inc.
Symbol: IMNM
Event Phase: Preclinical
Drug: ZPC-21
Indication: Solid Tumors
Lead Indication: N
Molecule: Monoclonal Antibody ROR-1/NTRKR1
Target: Not specified
LOA: Not specified
Partner Companies: Zentalis Pharmaceuticals (ZNTL)
Source Link: Immunome Inc.
HilleVax, Inc.
Symbol: HLVX
Event Phase: IND
Drug: HIL-216
Indication: Norovirus
Lead Indication: Y
Molecule: Vaccine Norovirus
Target: Not specified
LOA: Not specified
Partner Companies: Not specified
Deciphera Pharmaceuticals, Inc.
Symbol: DCPH
Event Phase: Approved
Drug: Qinlock
Indication: Gastrointestinal Stromal Tumor (GIST)
Lead Indication: N
Molecule: Small Molecule KIT/c-KIT, Platelet-derived growth factor alpha (PDGFa)
Target: 100%
Partner Companies: Specialised Therapeutics, Zai Lab Ltd. (ZLAB)
Source Link: Deciphera Pharmaceuticals, Inc.
Ascendis Pharma A/S
Symbol: ASND
Event Phase: Approved
Drug: Skytrofa
Indication: Short Stature / Growth Hormone Deficiency
Lead Indication: Y
Molecule: Protein Growth hormone receptor (GHR)
Target: 100%
Partner Companies: Royalty Pharma plc (RPRX), Specialised Therapeutics, Visen Pharmaceuticals
Harpoon Therapeutics
Symbol: HARP
Event Phase: II
Drug: HPN328
Indication: Small Cell Lung Cancer (SCLC)
Lead Indication: Y
Molecule: Monoclonal Antibody Delta-like 3 (DLL3), Human Serum Albumin (HSA), T lymphocytes, Tumor Cells
Target: 11%
Partner Companies: Not specified
Source Link: Merck to Acquire Harpoon Therapeutics Further Diversifying Oncology Pipeline
Pulmatrix, Inc.
Symbol: PULM
Event Phase: Development Outside U.S.
Drug: Pulmazole
Indication: Aspergillosis
Lead Indication: Y
Molecule: Small Molecule Ergosterol biosynthesis
Target: Not specified
Partner Companies: Cipla Limited (CIPLA)
Artelo Biosciences, Inc.
Symbol: ARTL
Event Phase: Preclinical
Drug: ART26.12
Indication: Chemotherapy Induced Peripheral Neuropathy (CIPN)
Lead Indication: Y
Molecule: Small Molecule Fatty Acid Binding Protein (FABP)
Target: Not specified
Partner Companies: Not specified
Ambrx Biopharma, Inc.
Symbol: AMAM
Event Phase: II
Drug: ARX788
Indication: Solid Tumors
Lead Indication: N
Molecule: Monoclonal Antibody HER2/neu or ErbB-2, Microtubules (Tubulin)
Target: 11%
Partner Companies: Zhejiang Medicine Co., Ltd. (600216)
Source Link: Ambrx Announces Sale to Johnson & Johnson
Ambrx Biopharma, Inc.
Symbol: AMAM
Event Phase: Preclinical
Drug: ARX788
Indication: Gastric Cancer
Lead Indication: N
Molecule: Monoclonal Antibody HER2/neu or ErbB-2, Microtubules (Tubulin)
Target: Not specified
Partner Companies: Zhejiang Medicine Co., Ltd. (600216)
Source Link: Ambrx Announces Sale to Johnson & Johnson
Ambrx Biopharma, Inc.
Symbol: AMAM
Event Phase: II
Drug: ARX788
Indication: HER2+ Breast Cancer
Lead Indication: N
Molecule: Monoclonal Antibody HER2/neu or ErbB-2, Microtubules (Tubulin)
Target: 11%
Partner Companies: Zhejiang Medicine Co., Ltd. (600216)
Source Link: Ambrx Announces Sale to Johnson & Johnson
Ambrx Biopharma, Inc.
Symbol: AMAM
Event Phase: II
Drug: ARX517
Indication: Prostate Cancer
Lead Indication: N
Molecule: Monoclonal Antibody Prostate-specific Membrane Antigen (PSMA)
Target: 11%
Partner Companies: Not specified
Source Link: Ambrx Announces Sale to Johnson & Johnson
Ambrx Biopharma, Inc.
Symbol: AMAM
Event Phase: I
Drug: ARX305
Indication: Cancer
Lead Indication: Y
Molecule: Monoclonal Antibody Cluster of Differentiation 70 (CD70)
Target: 5%
Partner Companies: Zhejiang Medicine Co., Ltd. (600216)
Source Link: Ambrx Announces Sale to Johnson & Johnson
Ambrx Biopharma, Inc.
Symbol: AMAM
Event Phase: Preclinical
Drug: ReCODE/EuCODE Program (Ambrx/Beigene)
Indication: Undisclosed
Lead Indication: Y
Molecule: Protein Unknown
Target: Not specified
Partner Companies: BeiGene, Ltd. (BGNE)
Source Link: Ambrx Announces Sale to Johnson & Johnson
Ambrx Biopharma, Inc.
Symbol: AMAM
Event Phase: Preclinical
Drug: ARX102
Indication: Cancer
Lead Indication: N
Molecule: Small Molecule IL-2 (Interleukin-2)
Target: Not specified
Partner Companies: Sino Biopharmaceutical Limited (1177)
Source Link: Ambrx Announces Sale to Johnson & Johnson
Clinical trials (LOA=likelihood of approval)
Aclaris Therapeutics, Inc. (ACRS)
Event Phase: II
Drug: ATI-1777
Indication: Atopic Dermatitis (Eczema)
Molecule: Small Molecule
Target: JAK/STAT
LOA: 19%
Partner Companies: Pediatrix Therapeutics, Inc.
VYNE Therapeutics Inc. (VYNE)
Event Phase: I
Drug: VYN201
Indication: Vitiligo
Molecule: Small Molecule
Target: BET Proteins/Bromodomains
LOA: 23%
Partner Companies: Tay Therapeutics Ltd.
BridgeBio Pharma, Inc. (BBIO)
Event Phase: NDA/BLA
Drug: Acoramidis
Indication: Transthyretin Amyloid Cardiomyopathy (ATTR-CM, Wild Type Or Hereditary)
Molecule: Small Molecule
Target: Transthyretin (TTR)
LOA: 88%
Partner Companies: AstraZeneca PLC (AZN)
Bristol Myers Squibb Company (BMY)
Event Phase: Approved
Drug: Augtyro
Indication: Non-Small Cell Lung Cancer (NSCLC)
Molecule: Small Molecule
Target: Anaplastic lymphoma kinase (ALK), ROS kinase, Src Kinase Family, Trk (Tropomyosin Receptor Kinase) Receptors
LOA: 100%
Partner Companies: Zai Lab Ltd. (ZLAB)
Defence Therapeutics Inc. (DTC)
Event Phase: Preclinical
Drug: AccuTOX-Chitosan
Indication: Lung Cancer - Unspecified
Molecule: Small Molecule
Target: Cluster of Differentiation 47 (CD47), Cytotoxic T-Lymphocyte Antigen 4 (CTLA4), Programmed death-1 receptor (PD-1)
Tonix Pharmaceuticals Holding Corp. (TNXP)
Event Phase: III
Drug: Tonmya
Indication: Fibromyalgia
Molecule: Small Molecule
Target: Alpha 2 Adrenergic Receptor, Serotonin 5-HT2A receptor
LOA: 36%
NGM Biopharmaceuticals, Inc. (NGM)
Event Phase: II
Drugs: NGM120, NGM707
Indication: Solid Tumors
Molecule: Monoclonal Antibody
Target: GDNF Receptor Alpha-like (GFRAL), Immunoglobulin, Leukocyte Immunoglobulin-Like Receptor B1 (LILRB1) / Immunoglobulin-Like Transcript 2 (ILT2)
LOA: 11%
Partner Companies: Merck & Co., Inc. (MRK)
SELLAS Life Sciences Group, Inc. (SLS)
Event Phase: II
Drug: SLS009
Indication: Acute Myelogenous Leukemia (AML)
Molecule: Small Molecule
Target: Cyclin Dependent Kinase 9 (CDK-9)
LOA: 11%
Partner Companies: GenFleet Therapeutics
Protagonist Therapeutics, Inc. (PTGX)
Event Phase: III
Drug: Rusfertide
Indication: Polycythemia Vera (PV)
Molecule: Peptide
Target: Hepcidin
LOA: 46%
BioCryst Pharmaceuticals, Inc. (BCRX)
Event Phase: Preclinical
Drug: BCX17725
Indication: Congenital Ichthyosis
Molecule: Protein
Target: Kallikrein Related Peptidase 5 (KLK5)
Cellectar Biosciences, Inc. (CLRB)
Event Phase: II
Drug: CLR 131
Indication: Waldenstrom Macroglobulinemia (WM) / Lymphoplasmacytic Lymphoma (LPL) - NHL
Molecule: Small Molecule
Target: Lipid Rafts, PI3K/AKT pathway
LOA: 11%
Xilio Therapeutics, Inc. (XLO)
Event Phase: I
Drug: XTX301
Indication: Solid Tumors
Molecule: Protein
Target: IL-12 (Interleukin-12) and IL-12 receptor, Immune System
LOA: 5%
Cybin Inc. (CYBN)
Event Phase: Development Outside U.S.
Drug: SPL028
Indication: Major Depressive Disorder (MDD)
Molecule: Small Molecule
Target: Unknown
OKYO Pharma Limited (OKYO)
Event Phase: II
Drug: OK-101
Indication: Dry Eye (Ophthalmology)
Molecule: Peptide
Target: ChemR23, GPR1
LOA: 24%
Summit Therapeutics plc (SMMT)
Event Phase: III
Drug: SMT112
Indication: Non-Small Cell Lung Cancer (NSCLC)
Molecule: Polyclonal Antibody
Target: Immune System, Programmed death-1 receptor (PD-1), VEGF (Vascular endothelial growth factor)
LOA: 44%
Partner Companies: Akeso Inc.
Novo Nordisk A/S (NVO)
Event Phase: III
Drug: IcoSema
Indication: Diabetes Mellitus, Type II
Molecule: Peptide
Target: GLP-1 Receptor, Insulin Receptor
LOA: 65%
G1 Therapeutics Inc. (GTHX)
Event Phase: III
Drug: Cosela
Indication: Triple-Negative Breast Cancer (TNBC)
Molecule: Small Molecule
Target: Cyclin Dependent Kinase 4 (CDK-4), Cyclin Dependent Kinase 6 (CDK-6)
LOA: 49%
Partner Companies: Boehringer Ingelheim GmbH, Simcere Pharmaceutical Group (2096)
Atea Pharmaceuticals, Inc. (AVIR)
Event Phase: II
Drug: Bemnifosbuvir + Ruzasvir
Indication: Hepatitis C (HCV) (Antiviral)
Molecule: Small Molecule
Target: HCV Polymerase (NS5B) - Allosteric binding sites (Non-nucleosides), Non-structural 5A protein (NS5A)
LOA: 23%
Partner Companies: Merck & Co., Inc. (MRK)
Coherus BioSciences, Inc. (CHRS)
Event Phase: Development Outside U.S.
Drug: Loqtorzi
Indication: Triple-Negative Breast Cancer (TNBC)
Molecule: Monoclonal Antibody
Target: Immune System, Programmed death-1 receptor (PD-1)
Partner Companies: AstraZeneca PLC (AZN), Excellmab Pte. Ltd., Hikma Pharmaceuticals plc (HIK), Shanghai Junshi Biosciences Co., Ltd. (1877)
Affimed N.V. (AFMD)
Event Phase: II
Drug: AFM24
Indication: Solid Tumors
Molecule: Monoclonal Antibody
Target: Cluster of Differentiation 16 (CD16), EGFR (Epidermal Growth Factor Receptor)
LOA: 11%
Clene, Inc. (CLNN)
Event Phase: II
Drug: CNM-Au8
Indication: Multiple Sclerosis (MS)
Molecule: Small Molecule
Target: Myelin
LOA: 12%
Novartis AG (NVS)
Event Phase: Approved
Drug: Scemblix
Indication: Chronic Myelogenous Leukemia (CML)
Molecule: Small Molecule
Target: BCR-ABL Fusion Protein
LOA: 100%
Bayer AG (BAYN)
Event Phase: III
Drug: Elinzanetant
Indication: Menopause (including Hormone Replacement Therapy [HRT])
Molecule: Small Molecule
Target: Neurokinin Receptor
LOA: 63%
Vertex Pharmaceuticals Incorporated (VRTX)
Event Phase: III
Drug: VX-548
Indication: Postsurgical Pain
Molecule: Small Molecule
Target: Sodium Channel Nav1.8 (SCN10A)
LOA: 51%
Vertex Pharmaceuticals Incorporated (VRTX)
Event Phase: II
Drug: VX-880
Indication: Diabetes Mellitus, Type I
Molecule: Cellular
Target: Insulin Receptor, Stem Cells/Other Cell Therapies
LOA: 17%
Partner Companies: Novartis AG (NVS)
AbbVie Inc. (ABBV)
Event Phase: II
Drug: ABT-981
Indication: Hidradenitis Suppurativa
Molecule: Monoclonal Antibody
Target: IL-1 (Interleukin-1)
LOA: 33%
Tiziana Life Sciences plc (TLSA)
Event Phase: II
Drug: Foralumab
Indication: Multiple Sclerosis (MS)
Molecule: Monoclonal Antibody
Target: Cluster of Differentiation 3 (CD3)
LOA: 12%
Partner Companies: AstraZeneca PLC (AZN), Bristol Myers Squibb Company (BMY), Light Chain Bioscience, Precision BioSciences, Inc. (DTIL)
Eli Lilly and Company (LLY)
Event Phase: I
Drug: Mazdutide
Indication: Obesity
Molecule: Peptide
Target: GLP-1 Receptor, Glucagon Receptor
LOA: 15%
Partner Companies: Innovent Biologics, Inc. (1801)
ORIC Pharmaceuticals, Inc. (ORIC)
Event Phase: I
Drug: ORIC-944
Indication: Prostate Cancer
Molecule: Small Molecule
Target: EZH1/2
LOA: 5%
Partner Companies: Mirati Therapeutics, Inc. (MRTX)
Cybin Inc. (CYBN)
Event Phase: Development Outside U.S.
Drug: CYB004
Indication: Generalized Anxiety Disorder (GAD)
Molecule: Small Molecule
Target: Serotonin 5-HT2A receptor
Ironwood Pharmaceuticals, Inc. (IRWD)
Event Phase: Approved
Drug: Linzess
Indication: Chronic Idiopathic Constipation
Molecule: Peptide
Target: Guanylyl cyclase c Receptor
LOA: 100%
Partner Companies: AbbVie Inc. (ABBV), Astellas Pharma, Inc. (4503:JP), AstraZeneca PLC (AZN)
Marker Therapeutics, Inc. (MRKR)
Event Phase: II
Drug: MT-401
Indication: Acute Myelogenous Leukemia (AML)
Molecule: Cellular
Target: Melanoma antigen-encoding gene (MAGE), NY-ESO-1 (Cancer-testis antigen), PRAME/MAPE/OIP4, Stem Cells/Other Cell Therapies, Survivin, Synovial Sarcoma X (SSX) Breakpoint Family, T lymphocytes
LOA: 11%
Financing events
Cypre
Description: Developer of hydrogel patterning technology and a model designed to improve the process of cancer drug development and precision medicine. The platform uses patented three-dimensional bioprinting technology and proprietary methods for assaying immunotherapy efficacy.
Verticals: Life Sciences, Oncology
Deal Date: January 10, 2024
Deal Type: Later Stage VC
Deal Size: $1.68 million
Investors: Undisclosed
Deal Synopsis: Cypre raised $1.68 million in venture funding from undisclosed investors.
LB Pharmaceuticals
Description: Operator of a drug development company focusing on treating schizophrenia using a pro-drug approach to change the chemical structure of amisulpride, creating a novel asset to improve efficacy and safety.
Verticals: Life Sciences, LOHAS & Wellness
Deal Date: January 10, 2024
Deal Type: Later Stage VC
Deal Size: $110.73 million
Investors: Pontifax Venture Capital (Ran Nussbaum) and undisclosed investors
Deal Synopsis: LB Pharmaceuticals raised $110.73 million in venture funding, including convertible notes converted to equity.
Myrobalan Therapeutics
Description: Developer of a therapeutic biotechnology company focused on developing oral neurorestorative therapies to reverse key pathologies underlying brain dysfunctions and CNS conditions.
Verticals: HealthTech, Life Sciences
Deal Date: January 10, 2024
Deal Type: Early Stage VC
Deal Size: $24 million
Investors: Co-Win Ventures (Xin Huang), AB Magnitude Ventures Group, 3E Bioventures Capital, Guanzi Capital
Deal Synopsis: Myrobalan Therapeutics raised $24 million in Series A funding led by Co-Win Ventures.
Sus Clinicals
Description: Developer of novel therapeutics aiming to accelerate medical discoveries using pig-based preclinical testing services for potentially life-saving cancer therapeutics.
Verticals: HealthTech, Life Sciences, Oncology
Deal Date: January 10, 2024
Deal Type: Seed Round
Deal Size: $3.50 million
Investors: Undisclosed
Deal Synopsis: Sus Clinicals raised $3.50 million in seed funding from undisclosed investors.
Aiolos Bio
Description: Operator of a clinical-stage biopharmaceutical company focusing on addressing unmet treatment needs for patients with respiratory and inflammatory conditions.
Verticals: Life Sciences
Deal Date: January 9, 2024
Deal Type: Merger/Acquisition
Deal Size: $1 billion
Investors: GSK (LON: GSK)
Deal Synopsis: Aiolos Bio reached a definitive agreement to be acquired by GSK (LON: GSK) for $1 billion.
Avamed Synergy
Description: Operator of a deep-tech company promoting research projects for technology transfer to the health sector using data, AI, and machine learning to enhance intraoperative surgical imaging and decision-making.
Verticals: Artificial Intelligence & Machine Learning, Big Data, HealthTech, Life Sciences
Deal Date: January 9, 2024
Deal Type: Later Stage VC
Deal Size: Undisclosed
Investors: In the process of raising venture funding on an undisclosed date.
Bolden Therapeutics
Description: Operator of a biotechnology company aiming to improve the lives of patients suffering from neurodegeneration by developing a therapeutic compound to promote the birth of new neurons in the adult brain.
Verticals: Life Sciences
Deal Date: January 9, 2024
Deal Type: Later Stage VC
Deal Size: Undisclosed
Investors: LifeSpan Vision Ventures (Andrew Worden)
Deal Synopsis: Bolden Therapeutics raised an undisclosed amount of venture funding from LifeSpan Vision Ventures.
Cerillo
Description: Developer of biological laboratory instruments simplifying common biological research tasks. The instruments include a multiwell plate reader designed to work in small labs.
Verticals: Life Sciences, Manufacturing
Deal Date: January 9, 2024
Deal Type: Later Stage VC
Deal Size: $1.35 million
Investors: Undisclosed
Deal Synopsis: Cerillo raised $1.35 million in venture funding through convertible debt.
Mabtech
Description: Developer of antibodies to cytokines, immunoglobulins, and apolipoproteins, providing efficient tools for the global scientific community.
Verticals: Life Sciences
Deal Date: January 9, 2024
Deal Type: Buyout/LBO
Deal Size: $328.84 million
Investors: EQT (STO: EQT) (Michael Bauer)
Deal Synopsis: Mabtech entered into a definitive agreement to be acquired by EQT through a $328.84 million LBO.
Mesenbio
Description: Operator of a biopharmaceutical company streamlining the process of discovery in the field of cell-derived therapy and basic biology.
Verticals: Life Sciences
Deal Date: January 9, 2024
Deal Type: Early Stage VC
Deal Size: EUR 1.4 million
Investors: DSW Ventures, NG Bio (UK) (Jason Goldstein)
Deal Synopsis: Mesenbio raised EUR 1.4 million in venture funding led by DSW Ventures and NG Bio (UK).
Okogen
Description: Developer of an ophthalmic specialty platform treating unmet needs in ophthalmic infectious diseases.
Verticals: Life Sciences, LOHAS & Wellness
Deal Date: January 9, 2024
Deal Type: Later Stage VC
Deal Size: $213,020
Investors: Undisclosed
Deal Synopsis: Okogen raised $213,020 in venture funding from undisclosed investors.
Transition Bio
Description: Operator of a biotechnology company building a hypothesis-free drug discovery and diagnostics platform for human health care advancement.
Verticals: Artificial Intelligence & Machine Learning, HealthTech, Life Sciences
Deal Date: January 9, 2024
Deal Type: Early Stage VC
Deal Size: $6 million
Investors: Undisclosed
Deal Synopsis: Transition Bio raised $6 million in venture funding through convertible debt.
Triplebar
Description: Operator of a biotechnology platform offering the power of evolution and the world's first microprocessor for biology. The platform leverages biotechnology for research and development to improve the sustainability of food supply production, processing, and packaging.
Verticals: CleanTech, HealthTech, Life Sciences
Deal Date: January 9, 2024
Deal Type: Early Stage VC
Deal Size: $21 million
Investors: Synthesis Capital (Boston), The Production Board (David Friedberg), Essential Capital, iSelect Fund, Rabobank Group, Stray Dog Capital
Deal Synopsis: Triplebar raised $21 million in Series A funding led by Synthesis Capital (Boston).
Ambrx (NAS: AMAM)
Description: Clinical-stage biologics company focused on discovering and developing engineered precision biologics (EPBs) using proprietary expanded genetic code technology.
Verticals: Life Sciences, Oncology, SaaS
Deal Date: January 8, 2024
Deal Type: Merger/Acquisition
Deal Size: $2 billion
Investors: Johnson & Johnson (NYS: JNJ) (Yusri Elsayed)
Deal Synopsis: Ambrx Biopharma Inc reached a definitive agreement to be acquired by Johnson & Johnson for $2 billion.
C2i Genomics
Description: Developer of a cancer treatment intelligence platform monitoring cancer recurrence by analyzing subtle changes in the pattern of the tumor's DNA.
Verticals: HealthTech, Life Sciences, Oncology, SaaS
Deal Date: January 8, 2024
Deal Type: Merger/Acquisition
Deal Size: $95 million
Investors: Veracyte (NAS: VCYT) (Marc Stapley)
Deal Synopsis: C2i Genomics reached a definitive agreement to be acquired by Veracyte for an estimated $95 million.
Cumulus Oncology
Description: Developer of novel therapies for treating cancers, focusing on an oral, selective, and preclinical Chk1 kinase inhibitor to optimize efficacy and outcomes for cancer patients.
Verticals: Life Sciences, Oncology
Deal Date: January 8, 2024
Deal Type: Seed Round
Deal Size: £9.00 million
Investors: Eos Advisory (Andrew McNeill), The Scottish National Investment Bank (Paul Callaghan)
Deal Synopsis: Cumulus Oncology raised £9.00 million in a seed funding round led by Eos Advisory.
Elephas
Description: Operator of a live tumor imaging diagnostics company determining cancer therapy for each patient using advances in cancer biology, microscopy, engineering, and artificial intelligence.
Verticals: Artificial Intelligence & Machine Learning, Life Sciences, Oncology
Deal Date: January 8, 2024
Deal Type: Early Stage VC
Deal Size: $51.22 million
Investors: Undisclosed
Deal Synopsis: Elephas raised $51.22 million in venture funding.
Gallant (Biotechnology)
Description: Developer of a pet health technology platform providing stem cell therapy for pets to treat diseases using regenerative medicine.
Verticals: HealthTech, Life Sciences, Pet Technology
Deal Date: January 8, 2024
Deal Type: Later Stage VC
Deal Size: Estimated $15 million
Investors: Bold Capital Partners (Teymour Boutros-Ghali), Digitalis Ventures (Cynthia Cole), Hill Creek Holdings
Deal Synopsis: Gallant raised an estimated $15 million in Series A funding led by Bold Capital Partners.
Jazz Pharmaceuticals (NAS: JAZZ)
Description: Ireland-domiciled biopharmaceutical firm focused on treatments for sleeping disorders and oncology, with a portfolio including Xyrem, Xywav, Zepzelca, Rylaze, and Vyxeos.
Verticals: Life Sciences
Deal Date: January 8, 2024
Deal Type: Debt Refinancing
Deal Size: $2.72 billion
Investors: Undisclosed
Deal Synopsis: Jazz Pharmaceuticals entered into a definitive agreement to raise $2.72 billion in debt refinancing.
MBF Therapeutics
Description: Developer of a DNA vaccine platform creating products for the infectious disease animal health markets, translating T-cell vaccines to elicit protective immunity against infectious diseases.
Verticals: Life Sciences, Oncology
Deal Date: January 8, 2024
Deal Type: Later Stage VC
Deal Size: $105,000
Investors: Undisclosed
Deal Synopsis: MBF Therapeutics raised $105,000 in venture funding through a combination of debt and equity.
Relay Therapeutics Inc (NAS: RLAY)
Description: Clinical-stage precision medicine company transforming drug discovery through the Dynamo platform, integrating computational and experimental technologies. Focus on precision oncology and genetic disease with pipeline candidates RLY-4008, RLY-2608, and GDC-1971 (formerly RLY-1971).
Verticals: Digital Health, HealthTech, Life Sciences, Oncology
Deal Date: January 8, 2024
Deal Type: PIPE
Deal Size: $30 million
Investors: Nextech Invest (Kanishka Pothula)
Deal Synopsis: Relay Therapeutics is in discussions to receive $30 million in development capital from Nextech Invest through a private placement. The funds will be used to advance RLY-2608 towards registrational trials, progress preclinical pipeline programs, and for general corporate purposes. The private placement is expected to close by January 10, 2024.
Solid Biosciences Inc (NAS: SLDB)
Description: Life science company manufacturing specialty and generic drugs, with a focus on curing Duchenne muscular dystrophy (DMD), a genetic muscle-wasting disease affecting primarily boys.
Verticals: Life Sciences
Deal Date: January 8, 2024
Deal Type: PIPE
Deal Size: $93.86 million
Investors: Adage Capital Management, Bain Capital Life Sciences (Adam Koppel), Deerfield Management, Janus Henderson Investors (NYS: JHG), Perceptive Advisors (Adam Stone), RA Capital Management (Rajeev Shah), The Invus Group, Vestal Point Capital
Deal Synopsis: Solid Biosciences is in discussions to receive $93.86 million in development capital from various investors through a private placement. The net proceeds will be used for ongoing pipeline development, business development activities, and general corporate purposes.
Zealand Pharma A/S (CSE: ZEAL)
Description: Biotechnology company focused on discovering, designing, and developing peptide-based medicines. Product pipeline includes candidates for short bowel syndrome (SBS), diabetes management, and treatment of congenital hyperinsulinism.
Verticals: Life Sciences
Deal Date: January 8, 2024
Deal Type: PIPE
Deal Size: DKK 1.45 billion
Investors: Undisclosed
Deal Synopsis: Zealand Pharma is in discussions to receive DKK 1.45 billion in development capital from undisclosed investors through a private placement. The funds will be used to strengthen Zealand's investment in its assets targeting obesity.
Calypso Biotech
Description: Developer of monoclonal antibodies for the treatment of immune pathologies with a focus on controlling homeostasis. Offers novel therapies for severe gastrointestinal diseases, including gastric and pancreatic cancer.
Verticals: Life Sciences, Oncology
Deal Date: January 7, 2024
Deal Type: Merger/Acquisition
Deal Size: $425 million
Investors: Novartis (SWX: NOVN) (Richared Siegel)
Deal Synopsis: Calypso Biotech reached a definitive agreement to be acquired by Novartis (SWX: NOVN) for $425 million.
Reduction in force (RIF)
January 10 - C4 Therapeutics: Two months after discontinuing one of its cancer assets, the small molecule medicines biotech has revealed a 30% workforce reduction, impacting a total of 45 positions. Story
January 8 - Affimed: Affimed is dissolving its research and preclinical development teams, cutting 50% of its staff as a result. The company says all funds will go toward its clinical-stage programs, which include a package of innate cell engages. Release
January 8 - Exelixis: Around 175 Exelixis employees are heading for the exits in the coming months, a workforce reduction that represents 13% of the company's total workforce. Story
January 8 - Organon: In the fourth quarter of 2023, Organon implemented restructuring activities across certain markets and functions which impacted about 3% of employees, a company spokesperson told Fierce Biotech via email on Jan. 8
Disease of the week
Congenital Adrenal Hyperplasia (CAH):
1. Definition:
CAH is a group of genetic disorders affecting the adrenal glands, leading to hormonal imbalances.
2. Genetic Basis:
Most cases are caused by mutations in the CYP21A2 gene, leading to deficiencies in the enzyme 21-hydroxylase, critical for cortisol and aldosterone synthesis.
3. Hormonal Imbalance:
Insufficient cortisol and aldosterone production.
Accumulation of precursors, causing excess androgen (male sex hormone) production.
4. Types of CAH:
The most common form is 21-hydroxylase deficiency. Other types involve deficiencies in different enzymes.
5. Clinical Presentation:
Ambiguous Genitalia (in females): Excess androgens can cause atypical genital development.
Salt-Wasting Crisis (in severe cases): Deficiency in aldosterone leads to salt wasting, dehydration, and potential life-threatening complications.
Hirsutism (Excessive Hair Growth): Particularly in females.
Early Puberty: Due to elevated androgen levels.
Irregular Menstrual Periods (in females):
Virilization: Development of male secondary sexual characteristics in females.
6. Diagnosis:
Newborn Screening: Often identified through routine screening for elevated levels of 17-hydroxyprogesterone.
Genetic Testing: Confirms the specific enzyme deficiency.
7. Treatment:
Hormone Replacement Therapy: Cortisol and aldosterone replacement to manage hormonal imbalances.
Monitoring: Regular monitoring of hormone levels and growth.
Surgery (in cases of ambiguous genitalia): Corrective surgeries may be performed.
8. Management Challenges:
Lifelong management is essential.
Balancing hormone replacement to avoid under or over-treatment.
Addressing fertility and reproductive health concerns.
9. Psychological and Social Aspects:
Coping with the impact on appearance and sexual development.
Support for individuals and families dealing with a chronic condition.
10. Genetic Counseling:
Essential for families to understand the genetic basis and implications for future generations.
11. Research and Advances:
Ongoing research to improve treatment, understand genetic variations, and develop potential gene therapies.
12. Prognosis:
With proper management, individuals with CAH can lead relatively normal lives, but lifelong medical attention is necessary.
What I’ve read this week
*Click on the pic to read*
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