DUBLIN – Redx Pharma plc has put together a rescue package with two heavyweight investors that should ensure the company’s immediate future. Redmile Group LLC and Sofinnova Partners plan to provide up to £26.3 million (US$33.6 million) in funding to the struggling drug discovery and development firm.
Alx Oncology Inc. pulled down a $105 million series C equity financing to support the expansion into phase II trials with ALX-148, described as a next-generation CD47 myeloid checkpoint inhibitor, paired with other cancer therapeutics. ALX-148 uses a “dead” Fc domain that does not bind to macrophages, thus reducing cytopenia and other toxicities associated with the class.
LONDON – Researchers have discovered a T-cell receptor (TCR) that is both capable of targeting a range of solid tumors and independent of human leukocyte (HLA) type, opening up the prospect of developing a universal anticancer T-cell therapy.
Novocure Ltd. of St. Helier, Jersey, released preliminary fourth-quarter and full-year 2019 results, showing strong momentum with its tumor treating fields (TTF) technology, a noninvasive, antimitotic therapy delivered via the Optune device. Q4 revenue is expected to hit $99.2 million, up 42% from $69.7 million in the same period last year, with anticipated full-year revenue of $351.3 million, also up 42%. In the U.S., net revenues grew 49% to $65.9 million in the last financial quarter.
BEIJING – Yisheng Biopharma Co. Ltd., of Beijing, said it has inked a pact with U.S. biotech Tavotek Biotherapeutics, of Ambler, Pa., to co-develop a combination therapy with Yisheng’s YS-ON-001/002 and Tavotek’s Tavo-301/303, which the companies hope could prove a more efficacious cancer treatment than the popular anti-PD-1/PD-L1 monotherapies.
BEIJING – Yisheng Biopharma Co. Ltd., of Beijing, said it has inked a pact with U.S. biotech Tavotek Biotherapeutics, of Ambler, Pa., to co-develop a combination therapy with Yisheng’s YS-ON-001/002 and Tavotek’s Tavo-301/303 the companies hope could prove a more efficacious cancer treatment than the popular anti-PD-1/PD-L1 monotherapies. YS-ON-001 and YS-ON-002 are potent agonists of TLR3, MDA5 and RIG-I pathways. Meanwhile, Tavo-301/303 is a series of novel multispecific antibody-based immuno-oncology assets.
HONG KONG – Singapore and U.S.-based Hummingbird Bioscience Pte Ltd. has raised $19 million in a series B financing round. Proceeds will be used to support the discovery of new disease targets and to fuel the work of co-discovery projects that are part of a multitarget collaboration agreement valued at more than $1 billion signed with Amgen Inc. in September.
BEIJING – Suzhou-based Alphamab Oncology Co. Ltd. (HK:9966), which aims to bring the first PD-L1/CTLA4 bispecific antibody to China, saw its share prices jump almost 30% on its debut on the Hong Kong Stock Exchange (HKEX) on Dec. 12, 2019, ending the year on a positive note for the pre-revenue biotech.
DUBLIN – Sanofi SA is paying a hefty 172% premium to acquire Synthorx Inc. for $68 per share, or $2.5 billion in all, to add a clinical-stage immuno-oncology asset to its pipeline and a platform technology that will enable it to optimize cytokine-based drugs for cancer and autoimmune disease.
Tumor-agnostic therapy developer Black Diamond Therapeutics Inc. has completed an oversubscribed series C financing of $85 million. The Cambridge, Mass.-based company said proceeds will help it advance candidates targeting oncogenic driver mutations of the ErbB kinases in EGFR and HER2, starting with a combined phase I/II trial of its most advanced candidate next year.
