The biotech industry's rapid response to COVID-19, a pivot of global scope, is driving a broad array of approaches to tackling the infection. On Monday, the first day of BIO's virtual convention, the trade group gathered some of the effort's leading voices to take stock of how those efforts are shaping up.
American depositary shares in CAR T-focused Legend Biotech Corp. (NASDAQ:LEGN), offered in a red hot IPO at $23 each, took off Friday, rising 60.9% to close at $37 per share. Other offerings June 5, a buoyant day for U.S. markets after a surprising drop in unemployment, raised $154 million for cellular trafficking specialist Applied Molecular Transport Inc. and $90 million for Calliditas Therapeutics AB, the developer of an oral formulation of the corticosteroid budesonide.
The biotech industry's rapid response to COVID-19, a pivot of global scope, is driving a broad array of approaches to tackling the infection. On Monday, the first day of BIO's virtual convention, the trade group gathered some of the effort's leading voices to take stock of how those efforts are shaping up. It put a spotlight on work underway at Athersys Inc., Regeneron Inc., SAB Biotherapeutics Inc., Takeda Pharmaceutical Co. Ltd. and Vir Biotechnology Inc.
American depositary shares in CAR T-focused Legend Biotech Corp. (NASDAQ:LEGN), offered in a red hot IPO at $23 each, took off Friday, rising 60.9% to close at $37 per share. Other offerings June 5, a buoyant day for U.S. markets after a surprising drop in unemployment, raised $154 million for cellular trafficking specialist Applied Molecular Transport Inc. and $90 million for Calliditas Therapeutics AB, the developer of an oral formulation of the corticosteroid budesonide.
Accent Therapeutics Inc. will receive $55 million up front and as much as $1.1 billion in milestones as part of a substantial new three-molecule deal with Astrazeneca plc, which committed to exploring what Astrazeneca’s oncology chief, José Baselga, called the "compelling" field of targeting RNA-modifying proteins (RMPs) for the treatment of cancer.
Prilenia Therapeutics BV, a private company developing an experimental therapy for Huntington's disease (HD) and amyotrophic lateral sclerosis (ALS), has raised $62.5 million in a series A financing round to support new trials in the indications, both of which are expected to yield top-line data by the end of 2022, CEO Michael Hayden told BioWorld.
Levosimendan's long story took a new turn with results from a phase II trial testing chronic administration of the calcium sensitizer in patients with pulmonary hypertension associated with heart failure and preserved ejection fraction (PH-HFpEF).
Eli Lilly and Co. said June 1 the first patients have been dosed in a phase I test of LY-CoV555, a potential antibody treatment for COVID-19, with results expected by June 30. Should it prove safe, the candidate could quickly move into a phase II trial to assess its efficacy, Ajay Nirula, vice president of immunology at Lilly, told BioWorld.
A phase III test of roluperidone, a drug developed by Minerva Neurosciences Inc. with a goal of treating negative symptoms in schizophrenia, found that the experimental medicine failed to deliver statistically significant differences vs. placebo in improving both the trial's primary endpoint, a common measure of symptom severity, and its secondary endpoint, a score measuring social function.
