Company News

Arvinas Inc, a US biotech with a portfolio of protein degrader molecules, has reported positive data for a potential treatment for neurological diseases. The data were presented at the International Conference on Alzheimer’s and Parkinson’s Diseases in Vienna, Austria on 4 April, showing that the molecule was both safe and able to engage with the cellular target. The target is leucine-rich repeat kinase 2 (LRRK2), a protein that has been implicated in Parkinson’s disease and progressive supranuclear palsy. The Phase 1 study was conducted in healthy male volunteers.

A prospective vaccine against infection from the Nipah virus moved closer to clinical development on 21 March with the award of $13.38 million from the Coalition for Epidemic Preparedness Innovations (CEPI). The new grant follows $3.6 million in funding in 2023, bringing total cash available to $16.98. CEPI, a public-private partnership, is working with Gennova Biopharmaceuticals Ltd of India and the US-based Houston Methodist Research Institute on the project, which will deliver a self-amplifying messenger RNA (mRNA) vaccine to the market.

A retrospective, observational study of semaglutide 2.4 mg (Wegovy) has shown that adults who are overweight with an established cardiovascular disease, but no diabetes, were able to reduce their risk of a major cardiovascular event over a period of years. Called SCORE, the trial compared outcomes for semaglutide users with non-users and established benefit for the drug taken as an adjunct to diet and exercise. The study started in 2018, enrolled 17,604 adults, and was conducted in 41 countries at more than 800 sites.

The European Medicines Agency issued a negative opinion on 28 March to Eli Lilly and Co which applied to market its Alzheimer’s treatment Kisunla (donanemab) in the EU for patients with amyloid beta plaques in the brain and mild cognitive impairment. Lilly said that it will appeal against the decision.

MaaT Pharma SA of France expects to make its first regulatory submission to the European Medicines Agency in June following a successful Phase 3 trial of its microbiome therapy and a capital increase of €13 million from a private share placement. The capital increase was announced on 27 March, not long after the company reported the latest clinical data for its therapy. The therapy, MaaT013, is being developed for patients with acute graft-versus-host disease with gastrointestinal involvement. 

Owlstone Medical Ltd is to receive an equity investment of up to $2.3 million from the US Cystic Fibrosis Foundation to develop a new breath test to detect a bacterial infection in patients with cystic fibrosis. The UK company has developed technology that can detect biological information from volatile organic compounds and respiratory droplets in breath. The newest project will involve developing a test for Pseudomonas aeruginosa, a Gram negative bacterial infection that can be particularly dangerous for people with compromised immune systems.

Novo Holdings A/S and Jeito Capital have co-led a new financing for Augustine Therapeutics NV of Belgium to support clinical development of the company’s candidate treatment for Charcot-Marie-Tooth disease, an inherited disorder that can cause nerve damage. The oversubscribed Series A financing raised a total of €78 million which includes an earlier sum of €17.5 million generated in 2024. Altogether 11 investors supported the company, including the US-based Charcot-Marie-Tooth Research Foundation. The closing of the Series A round was announced on 24 March.

A new biotech company has been launched in Seattle, US, and Singapore, with the goal of advancing the technology for antibody-drug conjugates - treatments for cancer that use an antibody and linker to deliver a cytotoxic agent to cancer cells. The company, Callio Therapeutics Inc, is developing ADCs that would be equipped with more than one cytotoxic payload. The company says this structure could increase the efficacy of ADCs, a drug class which is attracting developers across the industry.

Valneva SE, developer of the world’s first vaccine against chikungunya virus, is forecasting higher sales this year and more investment in R&D as it advances new products in the clinic against infectious diseases. Product sales this year are expected to reach €170 to €180 million, up from €163.3 million in 2024. This will drive positive cash flow for the business enabling an increase in R&D spending to between €90 to €100 million, up from €74.1 million in 2024.

InflaRx NV has extended its cash runway into 2027 following a public share offering in February that raised €28.7 million. The forecast was issued on 20 March in the German company’s 2024 annual report which showed an operating loss of €53 million on the back of significant outlays for research and development. R&D expenditure was €35.4 million, more than twice the sums spent to cover the company’s other business expenses. Founded in 2007, InflaRx is building a portfolio of drugs for inflammatory diseases that target the complement system, a key component of the innate immune system.