Veralox Therapeutics Inc., a Maryland-based startup developing a small molecule for halting aberrant platelet activation and thrombosis, said the FDA has granted the candidate, VLX-1005, orphan drug status for the treatment of heparin-induced thrombocytopenia (HIT).
Lantern Pharma Inc., a Dallas-based cancer medicines developer using a machine learning platform to accelerate its work, is raising $60 million through a public offering priced at $14 per share (NASDAQ:LTRN).
Citing a lack of efficacy from adding its complement inhibitor Ultomiris (ravulizumab) to best supportive care for patients hospitalized with severe COVID-19, Alexion Pharmaceuticals Inc. paused further enrollment in a global phase III study of the drug. The move, recommended by the trial's independent data monitoring committee, suggested Ultomiris may soon join the list of other therapeutics once tested against COVID-19 but now no longer.
Evoq Therapeutics LLC, a Michigan-based company developing a new technology for treating autoimmune disease, has signed a new license and collaboration agreement giving Amgen Inc. exclusive rights to selected programs in the area, undisclosed in number and indication. Valued at more than $240 million in up-front and milestone payments, the deal also includes potential royalties on sales of resulting therapies, Evoq said.
Tessera Therapeutics Inc., a Cambridge, Mass.-based company working to "write therapeutic instructions into the genome," has raised $230 million in series B financing to back its development of potential cures and treatments for cardiovascular, oncological, neurodegenerative and infectious diseases.
Shares of Eli Lilly and Co. (NYSE:LLY) leapt 11.7% to $185.94, their second biggest gain since 2010, after a phase II trial showed its beta-amyloid-targeting monoclonal antibody, donanemab, appeared to slow by 32% decline in a composite measure of cognition and daily function in patients with early symptomatic Alzheimer’s disease vs. placebo.
Forge Therapeutics Inc. spinout Blacksmith Medicines Inc. said Eli Lilly and Co. has committed up to $300 million in milestone payments to back its creation of five new immuno-oncology and inflammation-focused medicines targeting human metalloenzymes.
Lexeo Therapeutics Inc., a New York-based startup initially advancing clinical and near-clinical stage candidates for Friedreich’s ataxia, CLN2 and Alzheimer's diseases, has raised an $85 million series A financing round led by Longitude Capital and Omega Funds. Founded by gene therapy development veteran Ronald Crystal, the company is led by CEO Nolan Townsend, the former head of Pfizer Inc.'s rare disease efforts in North America.
Mycovia Pharmaceuticals Inc. said new phase III data on its oral antifungal, oteseconazole, showed that 37 weeks after women with a history of recurrent vulvovaginal candidiasis received a dose of the medicine for an episode of acute yeast infection, just 5.1% saw a recurrence of infection vs. 42.2% of those treated with fluconazole. Furthermore, oteseconazole proved noninferior to fluconazole in the resolution of symptoms at day 14 of the study.
Immuneering Corp., a bioinformatics specialist that has for years helped big companies like Teva Pharmaceutical Ltd. and Bristol Myers Squibb Co. better understand their own medicines, has landed $62 million in an oversubscribed series B financing that will help it leverage lessons learned in that journey to build out its own pipeline, starting with IMM-1-104, a dual inhibitor of MEK and a related target.
