Scattered investor qualms about Nuvalent Inc.’s largely upbeat data during the European Society for Medical Oncology (ESMO) meeting in Barcelona didn’t stop the firm from pricing an upsized $500 million public offering. The Cambridge, Mass.-based firm is selling 5 million shares of class A common stock at $100 each. The offering is expected to close on Sept. 18, with underwriters holding a 30-day option to purchase up to 750,000 more shares.
Three biopharmas debuted on Nasdaq Sept. 13, raising a combined $703 million for two Massachusetts-based companies focused on bifunctional antibodies for autoimmune diseases and cancer, and one Midwestern firm developing peptide therapies for endocrine and metabolic disorders.
Imcheck Therapeutics SAS’s gamma-delta T-cell activating antibody has become a poster child for the French government’s plan to reduce dependence on imports of biopharmaceuticals by directly supporting domestic development and manufacture of 20 novel products by 2030. The Marseille-based company has been awarded nondilutive public funding of €20.18 million (US$22.4 million) as part of the €54 billion France 2030 strategy, which aims to restore the country’s industrial competitiveness.
Vironexis Biotherapeutics Inc. came out of stealth mode today, disclosing that it has more than 10 product candidates it’s been developing over the last three years. The therapies are built on the company’s AAV-based platform, Transjoin, which is designed to have patients' livers express bispecific antibodies that bind to both CD3 on T-cells and various targets on tumor cells.
A drive to overcome the limitations of traditional antibodies led Toronto-based scientists Jean-Philippe Julien and Bebhinn Treanor to work toward discovering a multivalent, multispecific platform to develop therapies that can reach difficult targets. As a result, through the support of VC firm Amplitude Ventures, Radiant Biotherapeutics emerged in 2020 armed with what has become its Multabody platform.
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