Swiss biotech Polyphor AG, left hindered by failures in advanced clinical programs it had pursued in breast cancer and bacterial pneumonia, has found a path forward in a planned merger with Enbiotix Inc. The combination would put Enbiotix Chairman and CEO Jeff Wager in charge of a publicly listed company advancing a combined portfolio of programs for rare disease and cancer, including Polyphor’s inhaled antibiotic, murepavadin, for infections in people with cystic fibrosis.
The board of rare disease specialist Swedish Orphan Biovitrum AB has accepted a takeover bid from the U.S. private equity firm Advent International and Aurora Investment, an affiliate of capital markets group GIC, valuing it at about SEK69.4 billion (US$8 billion).
Zhejiang Jingxin Pharmaceutical Co. Ltd. has in-licensed JBPOS-0101, a class I new drug for epilepsy, from Bio-Pharm Solutions Co. Ltd. for mainland China, Hong Kong, and Macau. The partnership could bring South Korea’s Bio-Pharm more than $40 million, including an up-front payment of $5 million, milestone payments of up to $35 million, and potential royalties on future sales.
Beyondspring Inc. and Jiangsu Hengrui Pharmaceuticals Co. Ltd. entered a ¥1.3 billion (US$200 million) deal to commercialize and co-develop the former’s selective immunomodulating microtubule-binding agent plinabulin in greater China.
Genome Medical Holding Co. put its competitors on notice with two big moves designed to position the company as a leader in genetic testing and virtual genomic care. The company acquired Genematters LLC, a provider of telegenetics counseling, and closed a $60 million series C fundraising round. Together, the moves stand to significantly expand Genome Medical’s digital infrastructure and clinical expertise in genetics services.
Digital health has made only limited headway in the orthopedics space, but Zimmer Biome Inc. and Canary Medical Inc. have nudged the cause along with a smart implant that blends a 21st century sensor with a traditional knee replacement device. The marriage of Zimmer’s Persona knee implant and the Canary Medical Canturio TE sensor will give physicians a better way to track the patient’s recovery from knee replacement procedures.
Beyondspring Inc. and Jiangsu Hengrui Pharmaceuticals Co. Ltd. entered a ¥1.3 billion (US$200 million) deal to commercialize and co-develop the former’s selective immunomodulating microtubule-binding agent plinabulin in greater China.
Better Therapeutics Inc. has closed on a $50 million debt facility that advances the company’s push into the market for digital therapeutics for type 2 diabetes, a market that seems poised to expand drastically in the next few years. The $50 million debt facility by Hercules Capital is just one of several important financial benchmarks for Better, which is also planning to go public thanks to a merger with a special purpose acquisition company (SPAC) that may raise well in excess of $100 million, all of which seem to promise a bright future for Better and those with type 2 diabetes.
Eli Lilly and Co. tapped Lycia Therapeutics Inc. in a potential $1.6 billion-plus protein-degradation deal that brings $35 million up front and the remainder in would-be preclinical, development and commercial milestone payments, along with mid-single to low double-digit royalties. The multiyear research tie-up and licensing agreement strives to discover, develop and commercialize targeted therapeutics based on Lycia's lysosomal targeting chimera, or Lytac, technology.
Building on a March deal leveraging lipid nanoparticle (LNP) technology from Genevant Sciences Corp. to fight liver fibrosis, Takeda Pharmaceutical Co. Ltd. has signed a second agreement with the company for the development and commercialization of therapies for up to two rare liver diseases. The deal includes up to $303 million in up-front and potential milestone payments for Genevant, plus royalties on possible product sales, adding to the first deal's similarly structured $600 million package.
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