Bactolife A/S, a Danish bioindustrial company, has raised €30 million in Series A financing to develop and commercialise a new protein-based product to strengthen the gut microbiome of humans and animals. The goal is reduce gastrointestinal infections and resistance to antibiotics.
Regeneron Pharmaceuticals Inc, a developer of antibody therapeutics, is to acquire Decibel Therapeutics Inc, giving it ownership of three gene therapy programmes targeting different types of congenital, monogenic hearing loss. The two companies have been collaborating since 2017 and are now taking their lead therapy for congenital hearing loss forward to the clinic. The transaction, announced on 9 August, will involve a cash payment by Regeneron to Decibel of $4 per share for the target company’s common stock.
Biogen Inc is to add another marketed product to its portfolio of treatments for neurological diseases with the acquisition of Reata Pharmaceuticals Inc in a deal valued at $7.3 billion. Announced on 28 July, the deal involves a cash payment to Reata’s shareholders of $172.50 per share. The transaction is expected to close in the fourth quarter and will be slightly dilutive to Biogen’s earnings per share in 2023, roughly neutral in 2024, and accretive beginning in 2025. Biogen expects to finance the acquisition with cash on hand, supplemented by the issuance of debt.
The Medicxi investment group has raised $400 million for a fourth investment fund, enabling it to continue supporting entrepreneurs with unique projects. “Our mission is to support the innovative genius of entrepreneurs by providing the critical capital, expertise and experience that form the all-important bridge to pharma,” said Francesco De Rubertis, co-founder and partner of the group, in a statement issued on 27 July.
A new company has launched in the UK with the goal of using both ex vivo and in vivo cell therapy approaches for the treatment of ocular diseases. Tenpoint Therapeutics Ltd disclosed its plans on 12 July and concurrently announced a $70 million Series A financing led by F-Prime Capital, Sofinnova Partners, and British Patient Capital. The UCL Technology Fund was also part of the financing syndicate.
Switzerland-based Roche has entered into a partnership with Alnylam Pharmaceuticals Inc to co-develop and commercialise an experimental RNA interference (RNAi) therapeutic that has shown promise as a treatment for hypertension in patients at a high risk of cardiovascular disease. Announced on 24 July, the deal involves zilebesiran, a drug currently in Phase 2 which targets angiotensinogen, a protein implicated in the renin-angiotensin-aldosterone system which causes high blood pressure.
A new special purpose biotech company, Mage Biologics Inc, has been launched in the US to advance development of a monoclonal antibody treatment for ulcerative colitis, a chronic, inflammatory bowel disease. The candidate product is being designed for oral administration, using sustained release technology designed by one of its founders.
argenx SE of the Netherlands has raised $1.27 billion from a global share offering after the exercise by underwriters of their options to buy more shares. This is an increase from the initial gross proceeds of $1.1 billion and will support development of the company’s pipeline of therapies for severe autoimmune diseases.
Eli Lilly and Co is to acquire Versanis Bio Inc of the US in a transaction valued at up to $1.93 billion in order to expand its presence in cardiometabolic medicine development. The acquisition, in cash, will be the company’s third in less than a month, giving it a candidate product for obesity that is in a Phase 2b study. The acquisition was announced on 14 July. Lilly’s earlier announced deals included the takeover of DICE Therapeutics Inc, with a project in psoriasis, and Sigilon Therapeutics Inc, with a project for type 1 diabetes.
BioGeneration Ventures (BGV) of the Netherlands has raised €150 million for a fifth venture fund which will enable it continue creating new biotech companies and provide financial support to those already building portfolios. BGV Fund V was oversubscribed, generating funds from existing and new investors, of which 78% were of US origin. Existing investors also contributed, including Eli Lilly and Co, Novo Holdings, and Bristol Myers Squibb Co. The fund’s close was announced on 13 July.