DUBLIN – Coave Therapeutics unveiled a new identity and a new gene therapy platform, as it closed a €21.2 million (US$25 million) extension to its long-running series B round, which takes the total raise to €33 million.
DUBLIN – Panakès Partners SGR SpA has raised €150 million (US$177 million) in a first close of its second fund and is looking to secure a final tally of €180 million by year-end. That would represent more than twice the size of its first fund of €80 million and reflects its move into therapeutics investing.
Rivus Pharmaceuticals Inc. has emerged from stealth and disclosed a $35 million series A round to fund development of its pipeline of “controlled metabolic accelerators,” or CMAs, for treating cardiometabolic diseases.
Paq Therapeutics Inc. closed a $30 million series A round to take forward a novel approach to the targeted degradation and removal of a wide range of molecular substrates and defective organelles by developing drug molecules that can tap into autophagy, the cell’s general waste disposal and recycling system.
DUBLIN – Poolbeg Pharma plc raised £25 million (US$35 million) in an IPO on London’s Alternative Investment Market (AIM) to pursue development of antiviral drugs. The company priced the offering at 10 pence per share, which implies a valuation of £50 million. Shares are due to commence trading on Monday, July 19.
DUBLIN – Inotrem SA has received €45 million (US$53 million) in public funding commitments to move its Trem-1 inhibitor, nangibotide, into a phase II/III trial in COVID-19 patients who are critically ill and on ventilation.
DUBLIN – Having spent more than 150 years devoted to marketing tobacco, Philip Morris International Inc. is now embracing human health and wellness as part of what it calls a “beyond nicotine” strategy, under which it has tabled a £1.50 (US$2.07) per share offer for Vectura Group plc. The offer implies an enterprise value of £852 million or about $1.2 billion for Chippenham, U.K.-based Vectura, which majors in formulation and device development for inhaled drugs.
DUBLIN – Shares in Oncopeptides AB dropped 26% July 8 on news that the FDA had placed a partial clinical hold on a raft of trials involving its newly approved multiple myeloma drug Pepaxto (melphalan flufenamide; melflufen), following a bizarre incident involving the incomplete handover to an independent review committee of data from a phase III head-to-head trial in myeloma, which had pitted melflufen against Pomalyst (pomalidomide).
DUBLIN – Bacteriophage, like other viruses, can be viewed as complex molecular machines with two essential functions: infection and replication. The first involves the efficient injection into the host cell of their genomic payload; the second involves hijacking the host’s nucleic acid replication machinery to generate the functional and structural proteins needed to give rise to progeny viruses.
DUBLIN – Investment in European biotechnology slowed dramatically during the second quarter, as the funding frenzy of the first three months of the year gave way to a very solid but a less spectacular performance. Collectively, European firms engaged in drug discovery and development raised $3.358 billion in disclosed transactions during the second quarter, down 46% from the $6.195 billion raised during the first quarter.
