Launching a company based on knowledge that “the fundamental principle that most people hold to be true is off by a trillion” is a rare opportunity, said Jake Rubens, co-founder and president of Quotient Therapeutics Inc., a company that emerged from stealth this week, backed by two years of platform development and a $50 million investment from Flagship Pioneering. But it’s that knowledge that lays at the center of Quotient’s efforts in the area of somatic genomics, the study of genetic variation at the cellular level, to discover first-in-class therapeutics targeting a wide range of disease areas.
UC failure in phase III crashes Index stock
Shares of Index Pharmaceuticals Holding AB (STO:INDEX) fell to SEK0.24 (US2 cents), down SEK0.41, or 63%, on word of unhappy news from an independent data monitoring committee (DMC), which has completed the planned dose-selection analysis, including safety review and assessment for futility, of induction Study 1 of the phase III ulcerative colitis program called Conclude, testing Toll-like receptor 9 agonist cobitolimod. The DMC concluded that the lead compound is unlikely to meet the primary endpoint, and Stockholm-based Index said development will be stopped.
Syncona taking Freeline private in $28.3M deal
Freeline Therapeutics plc is being taken private by its founding investor and majority shareholder Syncona Ltd, in an all-cash transaction that values the Nasdaq-listed gene therapy specialist at $28.3 million. Syncona also will provide up to $15 million cash to keep Freeline afloat as it awaits the next tranche of data on its lead program FLT-201, which is positioned as a one-off treatment for the lysosomal storage disorder, Gaucher’s disease. The acquisition is subject to the approval of Freeline’s minority shareholders and is expected to close in the first quarter of 2024.
Blueprint up on Q3 results amidst broader drug developer decline
BioWorld’s Drug Developers Index continued to fall in October, down 31.4% for the year. Among the 30 stocks tracked, only five saw gains, with the remaining 25 experiencing declines. Standing out amid the challenging market, Blueprint Medicines Corp. (NASDAQ:BPMC) emerged as the top performer of October with a 17.2% increase in its shares.
Simcere licenses China rights to Connect’s rademikibart in $120M deal
Connect Biopharma Holdings Ltd. has been seeking a partner for its atopic dermatitis candidate rademikibart, and it appears to have found the perfect partner in Simcere Pharmaceutical Group, which gains exclusive rights to develop, manufacture and commercialize rademikibart in China in a deal worth $120 million plus royalties. Under terms of the deal, Connect will receive ¥150 million (US$21 million) up front and up to ¥875 million upon achieving certain development and commercial milestones, plus sales royalties up to low double digits. Simcere gains rights to rademikibart in all indications in greater China, including mainland China, Hong Kong, Macau, and Taiwan.
Boehringer buys T3 Pharma for $508M
Boehringer Ingelheim GmbH has acquired T3 Pharmaceuticals AG for CHF450 million (US$507.5 million) to gain access to a technology that uses live bacteria to deliver immune-modulating proteins to cancer cells and tumor microenvironments. The Ingelheim, Germany-based company is seeking to address the 80% of people treated with immunotherapies for cancer who do not achieve long-term remissions. By using T-cell engagers, oncolytic viruses and cancer vaccines, the company is trying to extend the benefits of immunotherapies. The addition of Allschwil, Switzerland-based T3 will “significantly expand” Boehringer’s immune-oncology pipeline and “is synergistic with many of our existing R&D programs,” said Michel Pairet, a company board member in charge of the innovation unit.
October clinical trial updates up nearly 5% compared to previous month
Clinical trial updates for the period of January to October 2023 saw an increase of 4.6% compared to the same time period last year. Comparatively, clinical data from January-September 2023 was up 1.79% compared to the same period last year.
Holiday notice
BioWorld’s offices will be closed in observance of Thanksgiving in the U.S. No issues will be published Thursday, Nov. 23, or Friday, Nov. 24.