South Korea’s Chong Kun Dang Pharmaceuticals Corp. said that it struck a deal potentially worth $1.3 billion with Swiss pharma giant Novartis AG for its CKD-510 candidate for neurological and cardiovascular diseases, propelling its shares upward 26.11% by market closing of Nov. 6. With the “largest ever” deal in its history, shares of the Seoul-based pharmaceutical (KOSPI:185750) on the Korea Exchange rose by 26.11%, or ₩26,500, closing at ₩128,000 ($98.70).
South Korea’s Chong Kun Dang Pharmaceuticals Corp. said that it struck a deal potentially worth $1.3 billion with Swiss pharma giant Novartis AG for its CKD-510 candidate for neurological and cardiovascular diseases, propelling its shares upward 26.11% by market closing of Nov. 6. With the “largest ever” deal in its history, shares of the Seoul-based pharmaceutical (KOSPI:185750) on the Korea Exchange rose by 26.11%, or ₩26,500, closing at ₩128,000 ($98.70).
The latest firm to brave the rough IPO market, Lexeo Therapeutics Inc. made its Nasdaq debut after pricing about 9.1 million shares at $11 per share, raising proceeds of $100 million to advance its early clinical work on gene therapies for cardiovascular and neurological diseases.
The largest genetic analysis of abdominal aortic aneurysm (AAA) carried out to date has identified almost 100 new risk variants linked to the disorder. The study also highlighted a possible therapeutic target for this pathology that, at the moment, has no treatment. AAA affects 4% of people over 65 years of age in the U.S. and causes 41,000 deaths per year. The incidence is three to four times higher in men than in women.
Just weeks after securing U.S. FDA approval for its flagship system to treat chronic limb-threatening ischemia (CLTI), Limflow SA kept the good news flowing to investors with the announcement of an agreement to be acquired by Inari Medical Inc. in a deal valued at up to $415 million. Inari will pay $250 million in cash at closing with up to $165 million in additional payments going to Limflow based on achievement of specified commercial and reimbursement milestones starting in 2025. The companies expect the deal to close by the end of the year.
American pharma giant Bristol Myers Squibb Co. (BMS) will pick up the rights to Lianbio Co. Ltd.’s FDA-approved drug for obstructive hypertrophic cardiomyopath, Camzyos (mavacamten), in six Asian countries by paying $350 million up front and waiving some outstanding payments.
Most of the patients and advocacy groups speaking at the first of 10 public listening sessions questioned the Biden administration’s talking points that U.S. Medicare’s prescription drug price negotiation will be good for beneficiaries because it will improve access to costly drugs by lowering prices.
United Therapeutics Corp. signed an agreement to acquire Miromatrix Medical Inc. for up to $140 million in cash, buying its way into additional organic growth. The deal would add Miromatrix’s comprehensive portfolio of bio-engineered organs to United’s existing organ production platform.
Investigators from Biomarin Pharmaceutical Inc. have presented the first preclinical data for BMN-293, a novel adeno-associated virus (AAV) gene transfer vector carrying the MYBPC3 gene. MYBPC3 mutations can cause hypertrophic cardiomyopathy (HCM), a heart medical condition characterized by an abnormally thick myocardium, which makes it more difficult for the heart to pump blood.
Heterozygous familial hypercholesterolemia (HeFH) is caused by mutations in the LDL receptor gene, resulting in unusually high levels of low-density lipoprotein (LDL-C) in serum. Researchers from Epigenic Therapeutics Co. Ltd. presented the discovery of an epigenetic modulation therapeutic, EPI-001, for HeFH.
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