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Home » Newsletters » BioWorld

BioWorld

Aug. 16, 2022

View Archived Issues
RNA.png

Orna goes into orbit on $3.65B Merck megadeal, $221M series B round

Orna Therapeutics Inc., which is pioneering a novel circular RNA protein expression technology in several therapeutic areas, has achieved lift-off. The Cambridge, Mass.-based company has closed a broadly based alliance in infectious disease and oncology with Merck & Co. Inc., under which it is getting $150 million up front and up to $3.5 billion in development, regulatory and sales-based milestones. In addition, Merck, of Rahway, N.J., is investing another $100 million in Orna’s equity, as part of its $221 million series B round, which the company also disclosed on Aug. 16. Read More

Canwell raises ¥100M in series A+ financing for antitumor immunotherapies

Canwell Biotech Ltd. raised more than ¥100 million (US$14.8 million) in a series A+ financing. The funds will help accelerate trials for its pipeline of anticancer assets, such as the TLR7 agonist CAN-1012, and preclinical development of other projects too, CEO Henry Yu told BioWorld. The State Development and Investment Corporation Venture Capital Co. Ltd. was the round’s sole investor. Read More
Gavel and pill blister packs

US Rx negotiations the law of the land

“It’s now law,” U.S. President Joe Biden said after he signed H.R. 5376 Aug. 16. His signature made Medicare drug pricing negotiations a near-term reality, along with new inflationary rebates, new caps on annual out-of-pocket drug spending and monthly insulin copays for Medicare beneficiaries, and tax changes that could affect the bottom line for several multinational drug and device companies beginning next year. Read More

Attempt to hijack shelved weight loss drug ends in guilty plea

Alain Bouaziz, a French citizen and resident of the United Arab Emirates, pleaded guilty Aug. 12 to one count of lying to the U.S. FDA in an attempt to steal a discontinued Novartis AG weight loss drug. The charge carries a maximum prison term of five years and a fine of up to $250,000, or twice the gain or loss caused by the offense, whichever is greatest. Read More
Australian coins and bills

Paradigm raises AU$66M to fund pivotal trials for Zilosul for pain associated with knee osteoarthritis

Paradigm Biopharmaceuticals Ltd. announced a AU$66 million (US$46.39 million) capital raise to fund its phase III pivotal trial for injectable Zilosul (pentosan polysulfate) to treat osteoarthritis of the knee. Read More

US government seeks feedback on measures for competitiveness in artificial intelligence

The field of artificial intelligence (AI) is beginning to mature, but this is also becoming a competitive space, with several governmental entities declaring their intent to develop policies to maintain national competitiveness. The U.S. has now entered the fray with a request for information by the International Trade Administration seeking information on policies that might foster the export of AI products developed by U.S. companies, but also on the policies that might enable small and medium enterprises to remain competitive. Read More

Appointments and advancements for Aug. 16, 2022

New hires and promotions in the biopharma industry, including: Cullinan, Cure, Nuvig, Olatec, Resverlogix, Sellas, Simcha, Toragen. Read More

Financings for Aug. 16, 2022

Biopharmas raising money in public or private financings, including: ADC, Cincor, Fulcrum, Halozyme, Senda, Verona, Viridian. Read More

Other news to note for Aug. 16, 2022

Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Addex, Alzecure, Artelo, Contrafect, Daiichi, Epiaxis, Epizyme, Hifibio, Horizon, Immunis, Ipsen, Novartis, Peptilogics, Pharmacyte, Q32, Seagen, Zyversa. Read More

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