Abvance Therapeutics Inc. secured an undisclosed amount of capital in a seed round led by Zubi Capital to support development of an insulin and glucagon combination product that the company has been in the process of developing for approximately 18 months. “We’re very excited that this round is able to get us positioned for a successful series A once we meet some internal confidential milestones,” Edward Raskin, CEO of Abvance, told BioWorld.
Abvance Therapeutics Inc. secured an undisclosed amount of capital in a seed round led by Zubi Capital to support development of an insulin and glucagon combination product that the company has been in the process of developing for approximately 18 months.
Mosanna Therapeutics secured $80 million in a series A round to develop MOS-118 as a treatment for the nearly 1 billion people globally with obstructive sleep apnea (OSA). The company has completed the formulation work to make the drug into a nasal spray and the initial proof-of-concept animal studies and is now ready to enter clinical trials in patients with OSA.
At the 61st American Society of Clinical Oncology (ASCO) Annual Meeting, multiple companies presented clinical trial data showing their drugs and devices helped patients with pancreatic cancer live longer or improve their ability to respond to treatment.
Biontech SE and Bristol Myers Squibb Co. are teaming up to develop Biontech’s BNT-327 in a deal possibly worth over $11 billion. BNT-327 is in the hot new class of bispecific antibodies targeting programmed death-1 (PD-1) or its ligand (PD-L1) and vascular endothelial growth factor (VEGF). The bispecifics take advantage of two well established mechanisms of action that help tumors grow; PD-1/PD-L1, which tells immunogenic T cells not to attack the tumor, and VEGF, which tumors excrete to produce new blood vessels to supply oxygen and other nutrients to the tumor.
Regeneron Pharmaceuticals Inc. was the successful bidder for 23andme Holding Co.’s personal genome service, total health and research services business lines, including its biobank and associated assets, in the bankruptcy auction to sell 23andme's assets.
Therini Bio raised an additional $39 million in its series A financing round, bringing the total for the round to $75 million. The capital will be used to advance its fibrin-targeting immunotherapies for neurodegenerative diseases.
Glycomine Inc. secured $115 million in a series C financing round to support the advancement of GLM-101 into a phase IIb study in patients with phosphomannomutase-2 congenital disorder of glycosylation (PMM2-CDG).
Hillstar Bio came out of stealth mode, announcing a $67 million series A financing round with investors including Droia Ventures, Frazier Life Sciences, Novo Holdings A/S and Lifearc Ventures.
A panel at Biocom California’s 15th Annual Global Life Science Partnering & Investor Conference covered the emerging use of artificial intelligence (AI) to discover and develop drugs. “We’re in a very different place than we were five years ago, or even three years ago, even two years ago, from our ability to harness AI to make advances,” Marc Tessier-Lavigne, CEO of South San Francisco-based Xaira Therapeutics Inc., told the audience, adding that the development is actually accelerating.
