Cosette Pharmaceuticals Inc. announced plans to acquire Adelaide, Australia-based Mayne Pharma Pty Ltd. for AU$672 million (US$430 million) to grow its women’s health and dermatology franchise in the U.S. Under terms, Cosette, of Bridgewater, N.J., will acquire 100% of Mayne’s shares at AU$7.40 per share in cash. The price represents a 37% premium to Mayne’s closing share price on Feb. 20. The deal is expected to close in the second quarter of 2025.
The closely watched chronic spontaneous urticaria (CSU, or hives) space chalked more early stage KIT inhibitor data as Third Harmonic Bio Inc. rolled out results from the phase I single and multiple ascending-dose trial with THB-335 in healthy volunteers, along with plans to move the oral candidate into phase II development by the middle of 2025.
In a deal that Cantor Fitzgerald analyst Eric Schmidt characterized as “capital recycling at its best,” Alumis Inc. and Acelyrin Inc. are merging in an all-stock transaction. The combined pipelines include Alumis’ most advanced prospect, ESK-001, an oral, next-generation, allosteric inhibitor of tyrosine kinase 2 (TYK2). ESK-001 is undergoing the phase III Onward study for moderate to severe plaque psoriasis as well as the phase II Lumus bid in systemic lupus erythematosus.
Gilead Sciences Inc. is moving further into inflammatory diseases in a potential $1.7 billion deal with Leo Pharma A/S around a preclinical oral signal transduction and activator of transcription 6 (STAT6) program that the Danish dermatology specialist has been working on since 2018.
Shares of Phio Pharmaceuticals Corp. soared 291% Jan. 13 on news that two patients with cutaneous squamous cell carcinoma had a complete response following treatment with the company’s Intasyl siRNA gene silencing candidate PH-762.
Despite positive preliminary data from its early stage study of treating hives, Jasper Therapeutics Inc. saw its stock drop dramatically on Jan. 8. Results were from the ongoing phase Ib/IIa study of the monoclonal antibody and lead candidate briquilimab in treating chronic spontaneous urticaria, often referred to as hives. The results showed clinical responses across several of the dosing cohorts. The treatment also displayed a favorable safety profile.
Strong interim safety and efficacy data from Hoth Therapeutics Inc.’s phase IIa study of HT-001 helped boost the company’s stock (NASDAQ:HOTH) on Jan. 7 as shares rose 178% to close at $2.28 each.
Disappointing readouts from separate phase II studies in atopic dermatitis sank shares of Q32 Bio Inc. and Anaptysbio Inc., as their respective antibody candidates failed to impress in a highly competitive space.
The U.S. FDA added hidradenitis suppurativa to the label for UCB SA’s Bimzelx (bimekizumab-bkzx), throwing renewed light on the indication, a chronic disease that causes painful, boil-like lumps that appear under the skin. Regulators cleared the humanized IL-17A and IL-17F antagonist for adults with moderate to severe HS, marking the drug’s fifth approval.
Incyte Corp.’s mention of would-be “backup molecules” could bode well for findings yet to roll out with Mas-related G protein-coupled receptor X2 antagonist INCB-000262 in chronic spontaneous urticaria. Meanwhile, though, the news is not good, as Incyte said in a terse press release that it will pause enrollment in the ongoing phase II study with the drug because of in vivo preclinical toxicology findings.
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