Seed Therapeutics Inc. entered a research collaboration and license agreement with Eli Lilly and Co. to find and develop therapies using target protein degradation. Seed will receive $10 million cash up front to fund research along with a $10 million equity investment from Lilly. Seed could also receive up to $780 million in preclinical and clinical development, regulatory and commercial milestones, plus tiered royalties on net sales of products springing from the collaboration. On June 25, 2019, Seed was incorporated in the British Virgin Islands as a wholly owned subsidiary of New York’s Beyondspring Inc., which has a pipeline of cancer therapies in various stages of development.

Manufacturing, supply, distribution: the next high hurdles on the COVID-19 horizon

Although the global impact of a novel virus like SARS-CoV-2 has so far reached devastating proportions, it has spurred science at an unprecedented rate with potential vaccines developed under a year now nearing U.S. authorization. But while some may say the end to this pandemic is in sight, an actual date is blurry at best, as manufacturing and supply capabilities muddy the outlook.

China’s 3D Medicines licenses Aravive’s AVB-500 greater China rights

3D Medicines Inc. has licensed in from Aravive Inc. a phase Ib-completed GAS6/AXL inhibitor known as AVB-500 in a deal worth up to $219 million. The Chinese firm will have the rights to develop and commercialize the drug candidate across all oncology indications in mainland China, Hong Kong, Macau, and Taiwan. Aravive will receive $12 million up front from 3D Medicines and up to $207 million in development and commercial milestone payments plus tiered royalties, which will range from the low double digits to mid-teens as a percentage of annual net sales of AVB-500 in Greater China.

Kira Pharmaceticals nabs $46 million of funding, advances complement system pipeline

HONG KONG – Kira Pharmaceuticals is riding high after completing a $46 million fundraiser and appointing Frederick Beddingfield as CEO. “The $46 million comprises a series A of $18 million and a series B of $26 million, with investors Quan Capital, 6 Dimensions Capital, Qiming Venture Partners, and Sinopharm Capital participating in both rounds,” Beddingfield told BioWorld.

Investors focus on cancer biotech companies presenting at SITC

The Society for Immunotherapy of Cancer (SITC) virtual meeting, which wraps up Saturday, provides a wide range of sessions that delve into the most recent advances in tumor immunology and cancer immunotherapy, providing an excellent opportunity for investors and analysts alike to stay up to date on the progress of new therapeutics in the pipeline for improving cancer treatment. Overall, data presented so far appears to have been well received, a factor that has helped push up the value of the price weighted BioWorld Cancer index this month.

Also in the news

89bio, Aerie, Agios, Akero, Albireo, Alnylam, Amarin, Annexon, Arrowhead, Atara, Axcella, Biocryst, Biomarin, Bridgebio, C4, Calcimedica, Cassava Sciences, Durect, Esperion, Five Prime, Gelesis, Gemini, Greenwich, GW, Harpoon, Heron, Horizon, Incarda, Innate, Ionis, Keros, Medicinova, Mirum, Moderna, Myokardia, Navidea, Navire, Neurorx, NGM, Nkarta, Novartis, Orchard, Organogenesis, Oric, Orphan Technologies, Puretech, Relief, Retrophin, Roche, Silverback, Sumitovant, Surface Oncology, Takeda, Urovant Sciences, VBI Vaccines, Zomedica