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.
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.
Photys Therapeutics Inc. has signed a license agreement with Hangzhou Polymed Biopharmaceuticals Inc. for HPB-143, a phase I-ready IRAK-4 degrader. IRAK-4 degradation offers potential to treat various autoimmune indications, including atopic dermatitis and hidradenitis suppurativa.
Septerna Inc. has announced its decision to discontinue a healthy volunteer phase I trial of SEP-786, an oral small-molecule agonist of the parathyroid hormone 1 receptor being developed for the treatment of hypoparathyroidism.
Bambusa Therapeutics Inc. has completed an oversubscribed series A financing of approximately $90 million to support its lead programs through phase I trials and advance its pipeline of long-acting bispecific antibodies for immunological and inflammatory disorders.
Akeso Inc. has received IND approval by China’s National Medical Products Administration (NMPA) for AK-139, an IL-4Rα/ST2 bispecific antibody under investigation for a number of indications, including respiratory and skin diseases.
Lycia Therapeutics Inc. has reported progress in its immunology pipeline that comprises lysosomal targeting chimera (LYTAC)-based protein degradation therapies. The company is advancing its two lead programs toward the clinic: LCA-0061, a Catalytac degrader that catalytically degrades IgE, and LCA-0321, a Lytac degrader designed to specifically bind and rapidly deplete anti-thyroid-stimulating hormone receptor (TSHR) autoantibodies.
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.
Skin Analytics Ltd. received CE mark for its AI-based tool Deep Ensemble for the Recognition of Malignancy (DERM), which can assess images of lesions and detect skin cancer autonomously. The technology has an accuracy rate of 99.8% compared to 98.9% for dermatologists.
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.
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