Two companies with European ties signed billion-dollar deals with large pharma firms in the last two days to discover and develop molecular glue drugs, as well as to advance a preclinical Alzheimer’s disease prospect. For both companies, the up-front payments are relatively small, only $10 million for Alzecure Pharma AB, and just $40 million for Orionis Biosciences Inc. But it’s the back-end milestone amounts that are headline-grabbing.
Less than two months after Kailera Therapeutics Inc. made headlines with biopharma’s largest IPO to date, Parabilis Medicines Inc. has come along and surpassed it. The oncology-focused firm priced its upsized IPO of 3.5 million shares at $20 apiece for gross proceeds of $670 million, an amount that could rise to $770 million should underwriters exercise their full 5-million-share overallotment option.
Shenzhen Chipscreen Biosciences Co. Ltd. has divulged histone deacetylase (HDAC) inhibitors found to be potentially useful for the treatment of cancer.
Scientists from the Purdue Research Foundation have prepared and tested prostate-specific membrane antigen (PSMA)-targeting ligands covalently linked to the poly(ADP-ribose) polymerase (PARP) inhibitor niraparib through a releasable, reductively cleavable NADS linker.
Antengene Corp. Ltd. has obtained IND approval from China’s National Medical Products Administration (NMPA) for ATG-201 for the treatment of B-cell related autoimmune diseases.
Phoremost Ltd. has unveiled its lead program, PMC-001, a next-generation, small-molecule microtubule-targeting agent (MTA) for primary and secondary brain cancers. PMC-001 is a highly differentiated, orally bioavailable MTA.
Researchers from the University of Milan and collaborators reported the discovery and preclinical profile of a first-in-class covalent PFKFB3 inhibitor designed to achieve durable and selective suppression of tumor glycolysis while potentially improving tolerability compared with nonselective or reversible glycolysis inhibitors.
Innovent Biologics Co. Ltd.’s Claudin18.2-targeted antibody-drug conjugate (ADC), arcotatug tavatecan (IBI-343, TAK-921), met the primary endpoint in the international multicenter phase III G-Hope-001 trial in advanced gastric cancer, according to interim results.
If the 2026 American Society of Clinical Oncology (ASCO) annual meeting in Chicago from May 30 to June 3 demonstrated anything about the evolution of China’s biotechnology sector, it was that the industry’s center of gravity is shifting. While Chinese companies once relied heavily on PD-1 antibodies and licensing deals to gain international visibility, this year’s oral presentations showcased a broader innovation base.
Agios Pharmaceuticals Inc.’s potential $665 million deal for Oscotec Inc.’s cevidoplenib, a phase III-ready oral SYK inhibitor to treat immune thrombocytopenia, marks a new chapter of development focused on cancer therapy resistance for Oscotec, CEO Yoon Tae-young said.
RSS
