A strong third quarter has pushed biopharma financings ahead of several pre-pandemic years, as follow-on offerings and private placements picked up the pace. IPOs and venture capital rounds dipped below prior quarters, but the overall amount raised so far this year has placed 2022 as the fifth best financing year among the last 10, ahead of both 2019 and 2017. In Q3, the industry raised $18.7 billion, significantly more than what was seen in each of the first two quarters, through a total of 270 transactions.

European biotech investing drops 39% during Q3

Equity investment in European biotechnology firms engaged in therapeutic discovery and development continued its downward slide during the third quarter. The total for the period, $1.106 billion, is down 39% on the second quarter and down 41% on Q3 2021. The ongoing weakness of the public markets is the main driver of the trend. In Q3, listed firms raised little more than half of what they managed in Q1 of this year, while the IPO window remains firmly closed. At present, the sector is bumping along at investment levels last seen about five years ago.

Bone Therapeutics’ development partner walks out on cell therapy deal, after lifeline merger delayed

There’s further drama at troubled Belgian biotech Bone Therapeutics SA, but its CEO has told BioWorld that its partner’s decision to return rights to cell therapy platform Allob is a blessing in disguise that could allow it to negotiate a more favorable deal, after a lifeline merger was delayed. The deal in question dates back to Oct. 5, 2020, when Bone Therapeutics, Shenzhen Pregene Biopharma Co. Ltd. and Link Health Pharma Co. Ltd. signed an exclusive license agreement for the manufacturing, clinical development and marketing of Allob, an off-the-shelf bone cell therapy platform in China, Hong Kong, Macau, Taiwan, Singapore and Thailand. Bone Therapeutics was eligible to receive up to €55 million (US$65 million) in development, regulatory and commercial milestone payments, including €10 million anticipated in the first 24 months, plus tiered double-digit royalties in up-front and milestone payments.

Araris adds $24M, lines up lead ADC for clinical testing next year

Araris Biotech AG has raised $24 million in a second round of funding, as it completes preparations to take its lead antibody-drug conjugate (ADC) into the clinic. The company continues to accumulate preclinical data indicating its novel linker technology makes for an improved therapeutic index compared to approved ADCs, and the lead product is expected to begin clinical development next year. In its preclinical assessments, Araris has been pitching the lead product, an anti-CD79b ADC, against the counterpart on which it is modeled, Roche Holding AG’s marketed anti-CD79b ADC Polivy (polatuzumab vedotin), which has U.S. FDA approval for treating diffuse large B-cell lymphoma.

Aim Vaccine nets $9M with HKEX IPO, shares rise 3.09% on its debut

Aim Vaccine Co. Ltd. priced an IPO on the Hong Kong Stock Exchange, raising HK$70.01 million (US$9 million) to fund work on its late-stage vaccine pipeline. Its shares increased 3.09% on debut Oct. 6 but closed the week at HK$24.80, up 54% over its listing price of HK$16.16. Aim plans to use 60% of the funds, or HK$42 million, to support the development and expansion of its pipeline, which includes three COVID-19 vaccine candidates – an mRNA COVID-19 vaccine, a second-generation inactivated COVID-19 vaccine and a broad-spectrum COVID-19 vaccine.

Industry lauds progress seen in Australia’s National Medicines Policy consultation

A review of Australia’s National Medicines Policy was begun in August 2021 but was paused until after the federal election in May to allow stakeholders more time to provide feedback. At the time the review was paused, biopharma stakeholders were furious about the previous Liberal government’s consultation process that largely ignored most comments and attempted to shove the process through before the election. The first draft of the policy put cost savings ahead of better health outcomes, and industry pushed back, demanding the government hold off on making any changes.

Aging biomarkers may not generalize to lifespan

By independently manipulating the lifespan of worms and one of its purported biomarkers, namely, the cessation of vigorous movement, investigators at the Center for Genomic Regulation in Barcelona have demonstrated that the two are driven by partly independent processes.

Biosimilars: Portrait of a maturing landscape

Although it’s a make-or-break market for many novel drugs, the U.S. is still testing the waters with biosimilars to some extent. That’s expected to change when at least seven biosimilars, including an interchangeable, referencing Abbvie Inc.’s Humira (adalimumab) are set to launch in the U.S. within the first seven months of next year. Next week, BioWorld will look at the significance of that looming competition and how the global biosimilars market is evolving amid a changing landscape of players, policies and pipelines.

Also in the news

Adiso, Aldeyra, Amylyx, AN2, Annovis, Applied, Avenue, Biomarin, Bone, Crinetics, Devonian, Durect, Eli Lilly, Entera, Epicentrx, Evofem, First Wave, Galectin, Humanetics, KGK Science, Kiromic, Mediwound, Mustang, Nektar, Opiant, Oxford, Paladin, Peptilogics, Pharmacyte, Puretech, Replimune, Revive, Taurx, Teva, Tracon, Ultimovacs