The University of Texas MD Anderson Cancer Center and Radiopharm Theranostics Ltd. have launched Radiopharm Ventures LLC, a joint venture (JV) that will develop radiopharmaceutical therapies for cancer. Radiopharm Theranostics owns 51% of shares in the new entity, while MD Anderson owns 49%.
Top-line phase III results showing Hutchmed Ltd.’s targeted therapy fruquintinib reduced the risks of death and disease progression by 34% and 68%, respectively, for patients with metastatic colorectal cancer could “lay a solid foundation for Hutchmed to initiate discussions with regulatory authorities worldwide,” a spokesperson of Hutchmed, told BioWorld.
Immuno-oncology company Imugene Ltd. announced an AU$80 million (US$53.9 million) capital raise that will allow the company to add additional studies within its immuno-oncology pipeline as well as pursue potential licensing opportunities. The funds raised will allow the company to interrogate its pipeline further in other indications or combinations, Imugene CEO Leslie Chong told BioWorld. “There’s a lot we could do with our current pipeline, and now our cashflow is greatly extended.”
Startup Avelos Therapeutics Inc. raised $8 million in series A funding that will launch the company’s biomarker-driven cancer therapy pipeline using its synthetic lethality platform. Participating in the series A funding were SV Investment, UTC Investment, Quad Investment Management, Timepolio Asset Management, Mirae Asset Venture Investment and Mirae Asset Capital.
Shanghai Junshi Biosciences Co. Ltd. plans to raise up to ¥3.969 billion (US$570 million) by issuing no more than 70 million A shares to target subscribers on the Shanghai STAR Market.
Genexine Co. Ltd.’s DNA vaccine, GX-188E, showed potential in extending overall survival in patients with advanced cervical cancer in a phase II study when given in combination with Merck & Co. Inc.’s anti-PD-1 therapy, Keytruda (pembrolizumab). The Seoul, Korea-based company analyzed 60 patients with human papillomavirus (HPV)-16 or HPV-18-positive advanced cervical cancer who had progressed after standard-of-care therapy.
Biocytogen Pharmaceuticals Co. Ltd. has raised HK$471.1 million (US$60 million) in net proceeds through an initial public offering on the Hong Kong Stock Exchange Sept. 1. It plans to use about three-quarters of the proceeds to advance clinical trials of two of its core anticancer candidates, YH-003 and YH-001. Company shares (HKEX:2315), initially offered at HK$25.22 each, closed at HK$26 on their first trading day.
Sinocelltech Group Ltd. has received marketing approval for its recombinant chimeric anti-CD20 monoclonal antibody, ripertamab (SCT-400), from China’s NMPA to treat patients with CD20-positive diffuse large B-cell lymphoma. The country’s first homegrown anti-CD20 therapy, ripertamab has been shown to have similar efficacy to global blockbuster rituximab but with a superior safety profile.
Australian radiopharmaceutical company Advancell Co. Ltd. closed an AU$18 million (US$12.4 million) series B round that will take its lead targeted alpha-emitting radiotherapy, ADVC-001, for metastatic prostate cancer to the clinic by the end of 2022.
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