Word that big pharma firms are sniffing around Horizon Therapeutics plc as a takeover candidate caused not only that firm’s shares to jump but also provided a boost for Viridian Therapeutics Inc., which has a thyroid eye disease (TED) candidate set to challenge Horizon’s Tepezza (teprotumumab-trbw), cleared by the U.S. FDA in January 2020.
A lackluster efficacy signal has prompted Editas Medicine Inc. to pause enrollment in a phase I/II trial of its CRISPR/Cas9-based gene editing therapy, EDIT-101, which is in development for patients with a particular form of Leber congenital amaurosis type 10.
Newco Breye Therapeutics ApS is poised to repurpose an intravenously administered drug that failed in ischemia reperfusion injury as an orally available treatment for diabetic retinopathy, after closing a €4 million (US$4.1 million) seed round.
Shares of Oyster Point Pharma Inc. (NASDAQ:OYST) soared to $11.57, or 38.6% on word of the buyout by Viatris Inc., which is also taking over privately held, development-stage Famy Life Sciences Ltd. to create an ophthalmology franchise that Viatris estimates could mean at least $1 billion in sales by 2028 as well as at least $500 million more in adjusted EBITDA.
“Big genomics” specialist Replay Holdings LLC has unveiled the first of four satellite genomic medicine companies it is forming to apply its high capacity herpes simplex viral (HSV) vector to next generation gene therapies. Eudora Therapeutics will specialize in inherited retinal eye diseases. It arrives on the scene with programs targeted at retinitis pigmentosa, Stargardt disease and Usher syndrome type 1B.
With roughly a decade of work behind it, Valitor Inc. is ready to put its Multivalent Polymer (MVP) platform to the test, having recently announced its presence with a $28 million series B round and appointment of biopharma veteran Steven Lo as CEO. The next step is IND-enabling studies for its lead ophthalmology candidate, with clinical testing slated to start in 2024.
Eye diseases specialist Oculis SA is set to add $200 million to its balance sheet by merging with the European Biotech Acquisition Corp., a special purpose acquisition company (SPAC) formed to invest in the European life sciences industry.
Over the next two weeks, the team at NGM Biopharmaceuticals Inc. will be digging through the data from its phase II trial of complement 3 inhibitor NGM-621 in patients with geographic atrophy (GA) secondary to age-related macular degeneration, following reports of a top-line miss Oct. 17 and a severe reaction from investors, who sent shares (NASDAQ:NGM) plummeting 70.5% to close at $3.41.
Surrozen Inc.’s back-end-loaded deal with Boehringer Ingelheim GmbH for the preclinical frizzled class receptor 4 agonist SZN-413 takes aim at vascular function in retinal diseases. The arrangement brings an up-front payment to South San Francisco-based Surrozen of $12.5 million, plus up to $586.5 million in potential development, regulatory and commercial milestone rewards, along with mid-single-digit to low-double-digit royalties on sales. After an initial period of joint research, Boehringer, of Ingelheim, Germany, will take over development and commercial responsibilities.
Trefoil Therapeutics Inc. has reported promising data from a phase II trial suggesting its engineered version of fibroblast growth factor 1, TTHX-1114, may speed and improve recovery of patients with Fuchs endothelial corneal dystrophy who are undergoing a surgical procedure called Descemet stripping only.
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