Biopharma financings in 2023 – at $49.3 billion raised through the third quarter (Q3) – are tracking ahead of, or only slightly behind, several years since 2011, except for the two outlier years of 2020 and 2021 when there was a flurry of investments in response to the COVID-19 pandemic. Read More
In a race with Karuna Therapeutics Inc. to get its schizophrenia drug to market, Cerevel Therapeutics Holdings Inc. has priced an underwritten public offering at $22.81 per share. The offering is worth of about $450 million, with the company estimating sales of the 19.7 million shares will yield net proceeds of about $433.6 million. Read More
Astria Therapeutics Inc.’s potential $320 million deal with Ichnos Sciences Inc. to bring aboard an OX40 portfolio for atopic dermatitis puts the firm in line to compete with big pharma, which is trying – at a much later stage – the same mechanism of action. Read More
Japan’s economy has remained stagnant for the last few decades, and Prime Minister Fumio Kishida has heralded the biotech industry as a strategic industry to attract global partners, which was also one of the expectations for the BioJapan 2023 conference held Oct. 10-12 in Yokohama, drawing attendees from more than 37 countries and was the first live biotech industry event that welcomed foreigners since the COVID-19 pandemic. Read More
The European Commission (EC) has ordered Illumina Inc. to sell Grail Inc. after it closed the acquisition without approval from EU regulators. The EC said that if Illumina fails to comply with the order, the company faces fines of up to 5% of its daily aggregate revenue or up to 10% of its annual worldwide revenue. Read More
In its first significant partnering deal since being founded in 2020, Medilink Therapeutics Co. Ltd. licensed exclusive global rights to an antibody-drug conjugate (ADC) targeting HER3 to Biontech SE in exchange for an up-front payment of $70 million, with the possibility for additional payments tied to development, regulatory and commercial milestones exceeding $1 billion. Medilink retains rights in mainland China, Hong Kong Special Administrative Region and Macau Special Administrative Region. Read More
With an eye on making the U.K. more attractive for clinical trial research, the Medicines and Healthcare products Regulatory Agency took a step Oct. 12 to overhaul its clinical trials regulations by reducing the approval time for the lowest-risk studies. Read More
Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Alar, Alfasigma, Almirall, Amneal, Biolinerx, Biontech, Epimab, Ferring, GC, Gloria, Immetas, Indivior, Intercept, Interstellar Acquisition, Mabxience, Medilink, Ocean, Promore, Scholar Rock, Virion, Virpax. Read More
Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Kintor, Kyverna, Sellas. Read More
