Big pharma continues to invest heavily into molecular glue degraders (MGDs). The latest deal has Eisai Co. Ltd. striking up a research collaboration that could bring Seed Therapeutics Inc. up to $1.5 billion in up-front and milestone payments. The two said they plan to discover, develop and commercialize MGDs for several undisclosed neurodegeneration and oncology targets. Eisai also led investors in Seed with the first close of $24 million in a series A-3 fund raise, with another to come before the year ends. MGDs are part of a drug discovery strategy known as targeted protein degradation. They are a class of compounds that encourage interactions between two proteins in a cell to get at previously undruggable targets.

Elevation stock bombs on phase I gastric cancers data 

Shares of Elevation Oncology Inc. (NASDAQ:ELEV) plunged 58%, or $1.24, to trade at 89 cents on word of initial data from the dose-escalation portion of the ongoing phase I trial of antibody-drug conjugate EO-3021 in patients with advanced, unresectable or metastatic solid tumors likely to express Claudin 18.2, including gastric, gastroesophageal junction (GEJ), pancreatic or esophageal cancers. Results showed a 42.8% confirmed objective response rate in a Claudin 18.2-enriched subset of subjects with gastric and GEJ tumors. “Minimal” safety signals turned up, and Boston-based Elevation plans to start dosing in the combination portion of the trial by the end of this year. Cohorts will evaluate EO-3021 in combination with Cyramza (ramucirumab, Eli Lilly and Co.), a VEGFR2-inhibitor, in the second-line setting, and with Jemperli (dostarlimab, GSK plc), a PD-1 inhibitor, in first-line disease.

Red Queen targets infections with predatory lipopeptides 

Armed with $55 million in series A funds and a U.S. government contract, Cambridge, Mass.-based Red Queen Therapeutics launched operations this week, with plans to advance its novel stapled lipopeptide platform, which creates new antiviral therapies that do not rely on the immune system to work. The aim is to find pan-variant treatments for coronaviruses, influenza, respiratory syncytial virus (RSV) and other serious viral diseases, basically beating down the viruses and their variants before they have time to evolve further. In fact, Red Queen is a name referring to a hypothesis in evolutionary biology in which a species is in a constant race to be predator rather than prey. The company is essentially working to outcompete viral evolution.

Levicept cites ‘truly exceptional’ data in osteoarthritis trial

Levicept Ltd. is scoping the options for phase III development after reporting positive results from its phase II trial of LEVI-04 in the treatment of pain caused by osteoarthritis of the knee. The full data are yet to be published, but the company said the potentially first-in-class neurotrophin-3 inhibitor demonstrated significant differences from placebo, with a mean reduction in pain score from baseline of more than 50%, for the three doses tested. Secondary endpoints of joint function and stiffness, patients’ own assessments, and daily pain scores were also all significantly different from placebo.

China to deepen health care reforms, boost primary care capacity

China will deepen its health care reforms and will focus on enhancing its public health care capacity at the primary care level and at public hospitals, according to resolutions passed at the third plenary session of the 20th Central Committee of the Communist Party of China in July. The move comes amidst increasing geopolitical turmoil and waning confidence among U.S.-based life sciences companies in working with Chinese biopharma companies. This year's reforms will give more weight to medical technological progress, multitiered diagnosis and treatment, and digitized services, said Zhu Hongbiao, an official with the National Health Commission.

Adel raises ₩17B in series B bridge round for Alzheimer’s therapy 

Seoul, South Korea-based Adel Inc. raised ₩17 billion (US$12.39 million) in bridge financing to advance its pipeline of Alzheimer’s disease therapies, including its tau antibody-based ADEL-Y01 candidate, currently in a U.S.-based phase I study. Along with ADEL-Y01, funds raised from the series B bridging round July 31 will help fund preclinical research and development of ADEL-Y04, its APOE4 antibody-based candidate, Adel said. New investors joining the round included Yuanta Investment, Smilegate Investment and Mint Venture Partners.

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