LONDON – Achilles Therapeutics Ltd. closed a £100 million (US$120 million) series B round to fund two proof-of-concept studies of its next-generation T-cell immunotherapy in solid tumors, and to build a commercial-scale, fully automated facility for manufacturing the personalized product. Read More
BEIJING – Multinational antibody specialist Hifibio Therapeutics Inc. said it closed a $67 million series C financing round to advance its drug candidates for cancer and autoimmune disorders. Read More
DUBLIN – Gyroscope Therapeutics Ltd. raised £50.4 million (US$60.5 million) to further development of GT-005, its clinical-stage gene therapy for treating dry age-related macular degeneration (AMD), and to advance a second-generation of the subretinal delivery system it gained through its recent merger with Orbit Biomedical Ltd. Read More
Following its phase II stumble of AR-105, Aridis Pharmaceuticals Inc. is dropping its development of the IgG1 monoclonal antibody. The study failed to meet its primary endpoint of showing superiority in clinical cure rates compared to placebo for treating ventilator-associated pneumonia caused by gram-negative Pseudomonas aeruginosa. Read More
SAO PAULO, Brazil – Latin America is following the lead of other developed markets by ramping up its focus on personalized medicine, but there are challenges, including the higher costs of those medicines and a lack of regulations. Read More
BEIJING – Chinese startup Biotheus Inc., of Zhuhai, Guangdong, has its sights fixed on bispecific and multitarget antibodies to maximize drug efficacy. A biotech innovator based in the south of China, it gained support from local authorities that aim to create another biotech hub in the country. Read More
Brickell Biotech Inc., of Boulder, Colo., completed its merger with Vical Inc., of San Diego, following approval by Vical's stockholders. Brickell commenced trading Tuesday on Nasdaq under the ticker BBI, with shares closing at $4.69. Vical contributes about $35 million to the combined company in addition to a research and development financing arrangement with Novaquest Capital Management that provides $25 million in funding. Read More
Sernova Corp., of London, Ontario, said it completed a second closing of $2.25 million of its nonbrokered private placement, bringing the total amount raised to date to $4.58 million. The company said it is increasing the maximum offering, for a total of up to $5.5 million of units priced at 20 cents each and consisting of one common share and one common share purchase warrant exercisable into one share at 30 cents. Read More
Shares of San Diego-based Cidara Therapeutics Inc. (NASDAQ:CDTX) enjoyed a skyward ride, closing Tuesday at $2.35, up 67 cents, or 40%, on word of a deal with Mundipharma International Ltd., of Cambridge, U.K., to develop and commercialize rezafungin for invasive fungal infections. "Historically, [antifungal] pricing has been much stronger in the EU, so that is an important opportunity for us and now for Mundipharma as well," Cidara CEO Jeffrey Stein said. Read More
