Tokyo-headquartered Otsuka Pharmaceutical Co. Ltd. said Aug. 1 that it will acquire Boston-based Jnana Therapeutics Inc. through a potential $1.125 billion M&A deal. Under the terms, Otsuka will work to close the transaction by the third quarter of 2024, with $800 million paid out to Jnana shareholders, along with up to $325 million in additional development and regulatory milestones payments.
Instil Bio Inc. plans re-energize the company by in-licensing the development and commercial rights to antibodies outside of China from Shanghai-based Immuneonco Biopharmaceuticals Inc. In return, Immuneonco is getting an undisclosed up-front payment and the chance for near-term payments of up to $50 million.
Radiopharm Theranostics Ltd. said it plans to list on Nasdaq by the end of 2024. The company had earlier announced plans to list in February 2023, but it delayed the listing due to market conditions.
Ideaya Biosciences Inc. bought global rights to Biocytogen Pharmaceuticals Co. Ltd.’s cancer-targeting bispecific antibody-drug conjugate (bsADC) program in a deal reaching up to $406.5 million.
Immunotherapy-focused biotech company LTZ Therapetics Inc. raised $20 million in a series A round that will advance development of its myeloid engager pipeline to treat cancer and autoimmune diseases. Proceeds from the funds will accelerate development of lead asset LTZ-301, which is expected to enter the clinic in early 2025, LTZ founder and CEO Robert Li told BioWorld.
Seoul, South Korea-based Adel Inc. raised ₩17 billion (US$12.39 million) in bridge financing to advance its pipeline of Alzheimer’s disease therapies, including its tau antibody-based ADEL-Y01 candidate, currently in a U.S.-based phase I study.
China will deepen its health care reforms and will focus on enhancing its public health care capacity at the primary care level and at public hospitals, according to resolutions passed at the third plenary session of the 20th Central Committee of the Communist Party of China in July.
Triastek Inc., of Nanjing, China, scored a potential $1.2 billion collaboration and platform technology license deal with Biontech SE to manufacture oral RNA therapeutics with 3D printing technology.
Ensho Therapeutics Inc. launched in July after licensing a pipeline of four oral α4β7 inhibitors for inflammatory and gastrointestinal disorders, including inflammatory bowel disease (IBD), from EA Pharma Co. Ltd. “Millions of people worldwide are living with IBD,” Ensho founder, president and executive chair Neena Bitritto-Garg recently told BioWorld, “and while there are a number of approved medications to address the symptoms of IBD, it remains a difficult-to-treat disease with high relapse rates for a considerable proportion of patients.”
The U.S. FDA accepted Telix Pharmaceuticals Ltd.’s new drug application for TLX-007-CDx, a new cold kit for preparing prostate-specific membrane antigen-PET imaging for prostate cancer.
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