News

An international syndicate, led by Medicxi Ventures of the UK, has invested in a Chinese biotech company which is building a portfolio of small molecule drugs and biologics to treat cancer. The recipient, D3 Bio of Shanghai, has three compounds in clinical development, and aspires to build a portfolio around multiple oncology programmes and indications. The newest round, announced on 8 April, raised $62 million of which Medicxi contributed $40 million. This brings total funding for the company up to $250 million. 

Obsidian Therapeutics Inc of Cambridge, US, has raised $160.5 million in an oversubscribed Series C financing round to advance a tumour-infiltrating lymphocyte (TIL) therapy in the clinic. TILs are treatments where tumour-infiltrating lymphocytes are removed from a patient’s tumour, grown in large numbers in a laboratory, and returned to the patient to help the immune system fight cancer. TILS are polyclonal cells with diverse receptors. Their advantage is said to be their ability to detect a wide range of tumour-associated antigens.

Carvykti (ciltacabtagene autoleucel), a chimeric antigen receptor (CAR) T cell therapy, has been given a more prominent position for the treatment of multiple myeloma following a Phase 3 trial showing it reduced the risk of disease progression or death by 59% compared with standard therapies. On 5 April, a new indication as a second-line therapy was approved by the US Food and Drug Administration. This followed a recommendation for an upgrade by the agency’s oncologic drugs advisory committee.

Genprex Inc, a US-based gene therapy company, has raised $6.5 million from a direct share offering to support its gene therapy programmes for cancer and diabetes. Announced on 22 March, the funding will support development of the company’s nanoparticle technology for delivering functional genes to the body, as well as a new AAV vector approach.

Switzerland-based Addex Therapeutics Ltd is to reduce its operating costs by spinning out a group of preclinical assets into a new venture capital-based company thereby enabling it to accelerate development of its lead product for epilepsy. The reorganisation, announced on 3 April, will stratify Addex’s pipeline giving the company more financial support and time to develop its pipeline of small molecule drugs for neurological diseases.

Genmab A/S, one of Europe’s older biotech companies, is to acquire ProfoundBio Inc of the US for $1.8 billion giving it a pipeline of antibody-drug conjugates (ADC) and an opportunity to expand into treatments for gynecologic cancers and other solid tumours. The deal, which is expected to close during the first half, also represents a significant shift in the Danish company’s business model. 

Germany-based TME Pharma NV has received a Fast Track designation from the US Food and Drug Administration for its investigational treatment for glioblastoma giving it access to more regulatory support during the clinical development of the therapy. The drug, NOX-A12, is an RNA oligonucleotide targeting a chemokine protein in the tumour microenvironment with the goal of breaking tumour protection against the immune system.

Novo Nordisk A/S is to acquire Cardior Pharmaceuticals GmbH of Germany for up to €1.025 billion in a deal that will significantly expand its presence in the field of cardiovascular medicine. Although Novo’s primary focus is diabetes, it has been rapidly expanding into related areas, most notably treatments for obesity. Obesity has been identified as a risk factor for cardiovascular disease.

Venture capital-financed Amolyt Pharma SAS has agreed to be acquired by AstraZeneca Plc in a deal that capitalises on the French company’s portfolio of treatments for rare endocrine diseases. The deal value is up to $1.05 billion, which consists of $800 million upfront and a payment of $250 million contingent on the achievement of a regulatory milestone. The acquisition will bolster AstraZeneca’s rare disease portfolio which is managed by its Alexion business unit. AstraZeneca acquired Alexion in 2021.

AstraZeneca Plc is to spend up to $2.4 billion to acquire Fusion Pharmaceuticals Inc of Canada, a biopharmaceutical company developing alpha-particle radiotherapeutics for treating cancer. The company’s pipeline consists of radioconjugates where a radioactive chemical is linked to a cell-targeting molecule, injected into the body, and directed against cancer cells. Under the terms of the agreement, AstraZeneca, through a subsidiary, will acquire all of Fusion’s outstanding shares for $21 per share in cash and a contingent value right of $3 per share.