Following a day of deals that collectively bring a potential $3.75 billion into three biopharma companies – namely Ascidian Therapeutics Inc., Belharra Therapeutics Inc. and Mabcare Therapeutics – researchers will be busy discovering new therapies for neurological and immunological diseases, and advancing globally a candidate for solid tumors.
Optimism on Wall Street proved wise and shares of Mirum Pharmaceuticals Inc. (NASDAQ:MIRM) rose accordingly to close June 17 at $33, up $7.08, or 27.3%, as the firm disclosed interim results from two phase IIb studies evaluating volixibat, an oral ileal bile acid transporter (IBAT) inhibitor, in patients with primary biliary cholangitis (PBC) and primary sclerosing cholangitis (PSC). The drug proved its mettle in both liver biliary tract-stenosing indications, with no new safety signals turning up, Foster City, Calif.-based Mirum said.
Washington-based Vanda Pharmaceuticals Inc. has faced a challenging few years involving a federal lawsuit against the U.S. FDA, patent infringement litigation, increasing generic competition and dwindling sales, as well as a complete response letter nixing plans to expand its melatonin receptor agonist Hetlioz (tasimelteon) into insomnia, yet it has recently received a higher, unsolicited acquisition offer of $466 million from a second company, Cycle Pharmaceuticals Ltd.
Amgen Inc. is looking to position inebilizumab as the first therapeutic specifically for treating immunoglobulin G4-related disease (IgG4-RD), a rare, immune-mediated condition that can affect multiple organs, after yielding what Leerink Partners analyst David Risinger called “exceptional” phase III results.
Annexon Inc.’s stock (NASDAQ:ANNX) climbed 31% June 4 following news that a single infusion of C1q protein complex inhibitor ANX-005 at the 30-mg/kg dose delivered a statistically significant 2.4-fold improvement in Guillain-Barré syndrome patients. Shares closed at $5.99, up $1.41.
Innovent Biologics Inc.’s picankibart (IBI-112) met all primary endpoints and key secondary endpoints in the phase III registrational Clear-1 trial in Chinese subjects with moderate to severe plaque psoriasis.
Treatment with indoleamine dioxygenase-1 (IDO1) inhibitors reduced both viremia and B cell transformation in animal models of post-transplant lymphoproliferative disorder (PTLD), while IDO1 up-regulation occurred in patients who would go on to develop PTLD. The findings, which were reported in the May 24, 2024, issue of Science by researchers from the University of Basel and the University Hospital Basel, point to new ways to predict, prevent and treat complications of Epstein-Barr virus (EBV) infection.
Grey Wolf Therapeutics Ltd. added $50 million to its series B, bringing the total for the round to $99 million and providing funding to expand the scope of an ongoing phase I/II trial of its lead antigen modulation program.
In a deal worth up to $1.8 billion, Biogen Inc. is buying Human Immunology Biosciences Inc. (Hibio), bolstering its late-stage immune-disease treatment portfolio and diversifying its pipeline. The massive amount comprises $1.15 billion up front and as much as $650 in potential milestone payments. The deal in rare diseases brings Biogen phase III-ready felzartamab, a fully human monoclonal antibody that selectively depletes CD38-positive plasma cells and natural killer cells. Hibio also is developing izastobart, an anti-C5aR1 antibody. Both assets were in-licensed from Morphosys AG in June 2022. Hibio also has mast cell programs in the discovery stage.
Altrubio Inc. secured up to $225 million in an oversubscribed series B financing round, led by BVF Partners LP. The full amount is dependent on Altrubio meeting certain undisclosed milestones. New investors RA Capital Management, Cormorant Asset Management and Soleus Capital, and existing investors Amoon Fund and Blackstone Multi-Asset Investing, as well as other new and existing investors, also participated in the financing round.
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