Once pharma’s great hope to replace opioid painkillers, it looks the end for nerve growth factor (NGF) inhibitors after Regeneron Pharmaceuticals Inc. quietly axed fasinumab, the late-stage painkilling injection it was developing in partnership with Teva Pharmaceuticals Ltd. and Mitsubishi Tanabe Pharma Corp. Safety has been an issue with the NGFs and has led to a tortuous development marked by halted trials and run-ins with regulators. Tarrytown, N.Y.-based Regeneron said in its Q3 results that it had decided to discontinue further development of fasinumab, resulting in an increase in operating income of $44 million along with REGN-6490, an antibody to IL-36R, an inflammatory diseases candidate that was previously being studied in palmoplantar pustulosis.

Reports of clinical success boost Bioatla; phase II lung data welcome

Bioatla Inc. shares (NASDAQ:BCAB) were trading midday at $7.78, up $1.42, or 22% as Wall Street greeted word of clinical success with its pipeline, disclosed along with the firm’s third-quarter financial results. Investors especially liked San Diego-based Bioatla’s phase II update from the study evaluating mecbotamab vedotin (BA-3011) for metastatic non-small-cell lung cancer. The treatment is an antibody-drug conjugate targeting AXL receptor tyrosine kinase, and emerged from the firm’s conditionally active biologic platform.

Potentially fifth best year as biopharma financings collect $52.5B

Biopharma financings in 2022 are now tracking 12% higher than the pre-pandemic year of 2019, but they still pale in comparison with each of the last two years, both of which were standout years by every measure. At the current pace, 2022 will most likely be the fifth best financing year on record among the last 23 years, behind 2015 ($68 billion), 2018 ($67 billion), 2020 ($134.5 billion) and 2021 ($118 billion). They will likely surpass 2019’s full year total of $57.9 billion. So far this year biopharma companies have raised $52.4 billion through 885 transactions.

Certa Therapeutics’ FT-011 delivers breakthrough results in inflammatory, fibrotic diseases

New research presented by the University of Michigan reveals groundbreaking results for Certa Therapeutics Pty Ltd.’s  lead candidate, FT-011, for serious inflammatory and fibrotic diseases. The results of a chronic kidney disease (CKD) study presented at the American Society of Nephrology meeting on Nov. 4 concluded that FT-011 reverses the activation of molecular markers associated with fibrosis. Small-molecule FT-011 is moving into phase III trials in scleroderma in 2023.

C4 among players busy in MM, NHL; new backbone therapy ahead?

C4 Therapeutics Inc. is making strides against multiple myeloma and non-Hodgkin lymphoma. In early April at the American Association for Cancer Research meeting, the firm offered data from cohort A of its ongoing phase I/II trial with lead compound CFT-7455, a novel degrader targeting IKZF1/3. Bristol Myers Squibb Co. also has early stage programs enrolling in the space, where the hunt goes on for improved treatments.

Also in the news

4D Molecular, Abeona, Actinium, AI Proteins, Apeiron, Aramis, Ardelyx, Atea, Bioatla, Biontech, Biophytis, Brexogen, Chinook, Clairvoyant, Compass, Creative Medical Technology, Cynata, Eccogene, GSK, Hepion, Inozyme, Kinarus, Madrigal, Neurobo, Neurocrine, NLS, Novadip, Nuvalent, OSE, Peak, Pfizer, Rain, Regenxbio, Sagimet, Sernova, Servier, Syndax, Theriva, Transgene, Vectivbio