Mythic Therapeutics Inc. pulled down $103 million in an oversubscribed series B round. With a lead program in lung cancer, the company aims to develop more precisely targeted and safer antibody drug conjugates through a technology dubbed Fatecontrol. Viking Global Investors led the round, along with new backers that include Venrock Healthcare Capital Partners, Foresite Capital, Perceptive Advisors and Highside Capital.

Mesoblast shares depressed by Novartis deal termination

PERTH, Australia – It’s been a year that Mesoblast Ltd. would like to forget. The company’s stock dropped 17% on the news that Novartis Ltd. will terminate its licensing agreement with the company for remestemcel-L. The decision puts an end to an exclusive global licensing deal Mesoblast inked with Novartis in November 2020 for the development, manufacture and commercialization of the mesenchymal stromal cell product, with an initial focus on acute respiratory distress syndrome (ARDS), including that associated with COVID-19.

Alethiomics raises $8M to bring multi-omics analysis to myeloproliferative neoplasms

DUBLIN – Fans of “His Dark Materials” and the “Book of Dust,” Philip Pullman’s series of fantasy novels set in Oxford and more remote corners of the earth, are familiar with alethiometers. In the hands of a highly select number of characters, these complex, compass-like devices can interrogate a mysterious substance called “dust” – an elementary particle associated with consciousness – and provide trusted answers to the most crucial questions.

Beigene's $3.4B Shanghai IPO loses steam on first trading day

Beigene Ltd.’s listing on the Shanghai STAR Market netted ¥22 million ($3.4 billion) as the company became making it the first biotech firm to be listed on Nasdaq, the Hong Kong Stock Exchange, and the Shanghai STAR Market. But Shanghai shares, initially priced at ¥192.6 each, fizzled quickly, plunging over 16.4% by market close to ¥160.98.

Tighter regulations causing Chinese companies to list closer to home

With the U.S. Securities and Exchange Commission and the Cyberspace Administration of China imposing stricter regulatory requirements on listing companies, more Chinese firms are likely to decide to list on stock exchanges closer to home.

Sanofi-GSK vaccine works as booster, but faces more delays as trials drag on

Vaccine specialists Sanofi SA and Glaxosmithkline plc have been behind the curve throughout the pandemic, with upstarts such as Moderna Inc. and Biontech SE stealing the show with their ground-breaking mRNA technology. While their rivals were beginning to launch the first wave of vaccines early last year, Sanofi and GSK had to reformulate theirs after it failed to produce a strong enough immune response in older people. New results show that the protein-based shot could play a role as a booster but there will be another delay after the companies struggled to recruit enough participants in a crucial phase III trial.

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