Normunity Inc. has closed a $75 million series B financing to support its pipeline of novel anticancer therapies targeting untapped drug mechanisms. Proceeds from the financing will be used to advance Normunity’s lead program, NRM-823, a first-in-class T-cell engager.
Biopharma stocks saw a year of ups and downs in 2024, with the BioWorld Stock Index rising as much as 21% before dipping below 2% and ultimately closing the year up 5.16%. This performance follows a 33.59% gain in 2023 and a sharp 32.75% decline in 2022. Among the 509 stocks analyzed in the index, 169 companies (33%) ended the year with gains, while 340 (67%) saw their shares decline.
Though Pfizer Inc.’s work on a PD-1-targeting antibody has trailed far behind that of its fellow big pharmas, the company could be the first to market in treatment-naïve, high-risk non-muscle invasive bladder cancer on the back of solid phase III data showing subcutaneously administered sasanlimab hit its endpoint of event-free survival. Pfizer anticipates meeting with regulatory agencies to discuss potential filings for what could be the first new treatment for that NMIBC population in decades.
Zai Lab Ltd. has entered into a new strategic collaboration and worldwide license agreement with Medilink Therapeutics (Suzhou) Co. Ltd. to use Medilink’s TMALIN antibody-drug conjugate (ADC) platform.
Frontier Medicines Corp. has announced the selection of FMC-220, a first-in-class covalent small-molecule activator of p53 Y220C designed to address potency and tolerability challenges of noncovalent approaches. In cancer with mutations, the Y220C mutation destabilizes the p53 protein, impairing its tumor-suppressive functions and contributing to cancer progression.
Plexium Inc. has described compounds acting as probable global transcription activator SNF2L2 (SMARCA2; BAF190B; SNF2-α) and/or transcription activator BRG1 (SMARCA4; BAF190A; SNF2-β) degradation inducers reported to be useful for the treatment of cancer.
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