Novartis AG is expanding its position in the optogenetics space with the acquisition of Vedere Bio Inc., bringing with it a program aimed at vision loss prevention and treatment. Shareholders of Vedere, created in June 2019 through the Atlas Venture incubator, received $150 million up front and are eligible for up to $130 million in milestone payments, bringing the total to $280 million.
Longboard Pharmaceuticals Inc. is spinning out from Arena Pharmaceuticals Inc., courtesy of a $56 million financing to help develop CNS-targeted therapies. On the table to be developed are compounds discovered using Arena’s G protein-coupled receptor research engine.
Apellis Pharmaceuticals Inc. could receive up to $1.25 billion from Swedish Orphan Biovitrum (Sobi) AB in their collaboration to develop systemic pegcetacoplan, a C3 therapy for treating several rare diseases in hematology, nephrology and neurology.
Solid Biosciences Inc. already has its own Duchenne muscular dystrophy program, but with some new investment money it is plunging into a collaboration with Ultragenyx Pharmaceutical Inc. to co-create another program. The two will collaborate on developing and commercializing new gene therapies for treating Duchenne muscular dystrophy as Novato, Calif.-based Ultragenyx is investing $40 million in Solid.
Aavantibio Inc., with the help of a large check from Sarepta Therapeutics Inc., has launched with a $107 million series A to pursue gene therapies for treating rare genetic diseases. The lead program is in Friedreich’s ataxia (FA), a rare genetic disease that typically begins in childhood and causes progressive damage to the nervous system.
Nuvation Bio Inc. and Panacea Acquisition Corp., a special purpose acquisition company (SPAC) sponsored by Ecor1 Capital, said they will merge, with the combined company to be renamed Nuvation.
Privately held Cytocom Inc. and Cleveland Biolabs Inc. will merge in an all-stock transaction, with Cytocom shareholders taking the majority position. The transaction, which must be approved by Cleveland Biolabs’ shareholders, is expected to close in the first quarter of 2021.
Dren Bio Inc. has closed on a $60 million series A to push its two lead programs through early clinical development. The company’s DR-01 is an antibody-based therapy for treating rare leukemias, lymphomas and specific phenotypes of autoimmune disorders. The company said it is initially targeting neglected hematology-oncology indications.
At its October meeting, the EMA’s Committee for Human Medicinal Products (CHMP) voted in favor of 11 new therapies, two of them for treating cancers and two for treating HIV-1. The European Commission will review the recommendations and make its decisions by the end of 2020.
Eli Lilly and Co.’s definitive agreement to acquire privately held Disarm Therapeutics Inc. brings Cambridge, Mass.-based Disarm $135 million up front and as much as $1.225 billion in additional future payments for potential development, regulatory and commercial milestones if Lilly successfully develops and commercializes therapies tied to the agreement.
