Biopharma financings for the first quarter of 2022 are at a five-year low, with 65.8% less money and 53% fewer transactions than a year ago. The industry raised $13.1 billion through 249 financings, compared with $38.3 billion from 529 transactions in 2021.
Ark Biopharmaceutical Co. Ltd.’s phase III testing its ziresovir in infants hospitalized with respiratory syncytial virus (RSV) infection produced positive top-line results, meeting both the primary endpoint of reduction in signs and symptoms (S&S) score (p=0.002) and a key secondary endpoint of reduction in viral load (p=0.006) compared with placebo. The company said it is the first oral RSV antiviral to be successful in phase III.
Shanghai Allist Pharmaceuticals Co. Ltd.’s third-generation EGFR tyrosine kinase inhibitor, furmonertinib, met its primary endpoint in a phase III trial, demonstrating longer progression-free survival vs. first-generation EGFR TKI Iressa (gefitinib, Astrazeneca plc) as first-line therapy for locally advanced or metastatic EGFR mutation-positive non-small-cell lung cancer.
Shares of Suzhou, China-based Kintor Pharmaceutical Ltd. (HKEX:9939) rose to HKD28.85 (US$3.68), up HKD14.87, or 106%, after the firm reported top-line data from the phase III multiregional trial with proxalutamide in people with mild to moderate COVID-19 infection, regardless of vaccination status or risk factors.
Telix Pharmaceuticals Ltd. has in-licensed Eli Lilly and Co.’s olaratumab antibody, agreeing to pay $5 million up front for exclusive worldwide rights to develop and commercialize radiolabeled forms of the antibody for the diagnosis and treatment of human cancers.
Cellpoint B.V. has picked up U.S and European rights to a chimeric antigen receptor T-cell (CAR T) therapy from Shenzhen Pregene Biopharma Co. Ltd. Cellpoint will develop and commercialize the candidate, PRG-1801, for the treatment of hematological indications.
There’s a growing renewal of interest in CDK9 as a therapeutic target, including by two companies adding to the momentum with a $150 million deal. Sellas Life Sciences Group and Genfleet Therapeutics Inc. entered an exclusive license agreement granting Sellas rights to develop and commercialize the small molecule CDK9 inhibitor GFH-009 outside mainland China, Hong Kong, Macau and Taiwan.
Biosion Inc. has out-licensed ex-China rights for its anti-Siglec-15 monoclonal antibody BSI-060T and additional preclinical assets with the same target to Pyxis Oncology Inc. for $10 million up front and potential milestone payments of up to $222.5 million, plus single to low double-digit royalties on commercial sales.
There is a project management joke that the first 90% of a project takes 90% of the time, whereas the last 10% of the project takes the other 90% of the time.
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