Just a month after laying off 147 employees and announcing plans to mull “strategic alternatives,” Vor Biopharma Inc. reported raising $175 million in private placement in public equity financing and inking a new $4.23 billion license deal for Yantai Rongchang Biotechnologies (Remegen) Co. Ltd.’s telitacicept, a dual-target fusion protein drug approved in China for three autoimmune indications. The news was disclosed after U.S. market hours June 25. Vor’s shares (NASDAQ:VOR) gained 34 cents, or 60.5%, to close June 26 at 89 cents. The company’s shares had risen for eight consecutive trading days since June 17.
Evaxion A/S has added a new vaccine program, named EVX-B4, to its pipeline for prevention of group A Streptococcus (GAS) infections. Invasive GAS infections can cause diseases such as sepsis, toxic shock, rheumatic heart disease and necrotizing fasciitis.
In multiple sclerosis (MS), an alteration of neuronal metabolism caused by dysfunction of its proteasome, the cellular machinery responsible for recycling proteins, contributes to neurodegeneration in this inflammatory disease. This finding could be explored for the development of drugs that protect neurons from damage in MS and other neurodegenerative disorders.
Kymera Therapeutics Inc. found itself juggling partnerships by bringing one on board while going to the development bench in another. Kymera and Gilead Sciences Inc. will collaborate on a molecular glue degrader program that targets cyclin-dependent kinase 2 in solid tumors, including breast cancer.
At the 11th Congress of the European Academy of Neurology, which was held in Helsinki June 21 to June 24, researchers presented new data on using CAR T cells in autoimmune neurological conditions.
Work at Rubedo Life Sciences Inc. has led to the development of Bcl-2-like protein 1 (Bcl-xl; Bcl-X; BCL2L1) inhibitors acting as senolytic agents and reported to be useful for the treatment of autoimmune disease, cancer, cardiovascular disorders, cognitive disorders, diabetes, inflammatory, metabolic and neurological disorders, among others.
Cue Biopharma Inc. has received pre-IND feedback from the FDA to discuss the proposed development plan for CUE-401, its lead autoimmune asset. Based on FDA feedback, the company intends to file an IND pending completion of final IND-enabling studies.
Harbour Biomed is out-licensing its B-cell maturation antigen and CD3 bispecific T-cell engager HBM-7020 for autoimmune diseases to Otsuka Pharmaceutical Co. Ltd. in a deal worth up to $670 million.
Transthera Sciences Inc. debuted on the Hong Kong stock exchange June 23 with a HK$200.95 million (US$25.6 million) IPO, becoming the latest in a string of mainland Chinese biopharmaceutical firms to turn to the Hong Kong market for capital.
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