During what has become one of the slowest IPO years in recent memory, cancer immunotherapy company Cytomed Therapeutics Ltd. debuted on Nasdaq, raising $9.65 million, while inflammatory disease firm Acelyrin Inc. filed to list its stock for a potential $100 million. Up to this point, there were only six biopharma IPOs completed this year – the fewest since 2013. Cytomed, which priced 2.4 million shares at $4 apiece, is now the seventh for 2023, and the fifth on Nasdaq. Two other IPOs have closed on Chinese markets.
During what has become one of the slowest IPO years in recent memory, cancer immunotherapy company Cytomed Therapeutics Ltd. debuted on Nasdaq, raising $9.65 million, while inflammatory disease firm Acelyrin Inc. filed to list its stock for a potential $100 million. Up to this point, there were only six biopharma IPOs completed this year – the fewest since 2013. Cytomed, which priced 2.4 million shares at $4 apiece, is now the seventh for 2023, and the fifth on Nasdaq. Two other IPOs have closed on Chinese markets.
Scientists from the UK Dementia Research Institute at the University of Cambridge have described how cytosolic antibody receptor TRIM21 contributes to in vivo protection during tau immunotherapy. Their work on TRIM21’s mechanism of action may help in moving a step closer toward enhanced second-generation antibodies for tauopathy treatments.
Neophore Ltd. announced a £6 million (US$7.4 million) extension to its series B, bringing the total for the round to £21.5 million and enabling it to take forward a second DNA mismatch repair program.
Nextpoint Therapeutics Inc. closed an $80 million series B round to move two novel immune checkpoint inhibitor programs into clinical development in the coming year. The Cambridge, Mass.-based firm is planting a flag in an area of immune signaling that has been largely overlooked by drug developers until now.
Aethon Therapeutics Inc. closed a $30 million series A round to develop a novel antibody-based therapeutic strategy for cancer, which relies on the concomitant use of small-molecule covalent inhibitors that form peptide-drug conjugates or beacons.
Ryvu Therapeutics SA is banking €40 million (US$41.3 million) as an initial payment from a two-pronged alliance with Biontech SE, which involves a multitarget small-molecule research collaboration in immunotherapy and a license agreement for Ryvu’s portfolio of Sting agonists.
The Institute of Cancer Research (ICR) in London is shifting the focus of drug discovery from molecular targets in cancer cells to take in the whole ecosystem supporting tumor growth, evolution and the development of resistance. The aim is to exploit new understanding of the way cancers evolve within the ecosystem of the body, the interaction between cancer cells and the immune system, and the reliance of a tumor on the tissue and growth signals that surround it. Manipulating this environment could make cancer cells become “extinct,” ICR researchers say.
Catalym GmbH raised €50 million (US$51.3 million) in a series C round to expand and accelerate phase IIa development of visugromab (CTL-002), a first-in-class growth differentiation factor 15 inhibitor, across a range of solid tumor indications.
Conditionally active antibody specialist Cytomx Therapeutics Inc. has agreed to work with Regeneron Pharmaceuticals Inc. to discover and develop new bispecific antibodies with what the partners said is the potential to "widen the therapeutic window and help minimize off-target effects."
