News

F2G Ltd has raised $70 million in venture capital finance to advance its antifungal agent, olorofim, which has shown promise in treating invasive Aspergillosis, a fungal infection affecting high-risk immunosuppressed populations. Olorofim is completing a Phase 2b study and poised to start Phase 3. It has already received a breakthrough therapy designation from the Food and Drug Administration and plans to make a US regulatory filing by the end of 2022.

MorphoSys AG is poised to increase investment in its late-stage pipeline in order to strengthen its position in the treatment of haematological cancers. The Germany-based company has one product on the global market, Monjuvi (tafasitamab) for diffuse large B cell lymphoma (DLBCL). It aims to have two commercial products by 2025. In addition, Phase 3 data for two partnered products – one in Alzheimer’s disease and the second for rheumatoid arthritis – are expected to be reported by the end of the year.

A Phase 3 trial of a combination therapy intended to improve the standard of care for the most common type of liver cancer failed to meet its dual primary endpoints, Merck & Co Inc and Eisai Co Ltd announced on 3 August. The trial was investigating Keytruda (pembrolizumab) and Lenvima (lenvatinib) as a first-line treatment for patients with unresectable hepatocellular carcinoma versus Lenvima alone. In the trial, there were trends towards an improvement in overall survival and progression-free survival but these trends did not meet statistical significance, the companies said.

Germany-based Medigene AG ended the first half of 2022 with cash and cash equivalents of €39.4 million and a revenue-generating partnership with BioNTech SE to develop T cell receptor (TCR) based immunotherapies against cancer. Concurrently Selwyn Ho, an experienced business executive, took over the job of chief executive on 25 July, succeeding Dolores Schendel who will continue as chief scientific officer and head of research and development. Prof Schendel was previously both CEO and CSO.

A Phase 3 trial of an experimental checkpoint inhibitor for head and neck cancer has been ended for lack of efficacy, the developer Innate Pharma SA of France announced on 1 August. The drug, monalizumab was being studied in combination with cetuximab (Erbitux) versus placebo plus cetuximab in patients with metastatic disease who had previously had chemotherapy and another checkpoint inhibitor. Despite promising signals in an earlier Phase 1b/2 study, the Phase 3 trial did not meet a pre-defined threshold for efficacy.

Switzerland-based Addex Therapeutics Ltd has raised $4.2 million in equity finance in order to carry forward clinical and pre-clinical programmes directed at neurological disorders. The financing was arranged through Armistice Master Fund Ltd, an institutional investor, and was announced on 26 July. It makes a significant contribution to the company’s cash position which was CHF 8.8 million ($9.24 million) on 30 June, by extending cash well into 2023.

Pharming Group NV is to get an accelerated review from the European Medicines Agency for leniolisib, its candidate treatment for a rare primary immunodeficiency known as activated phosphoinositide 3-kinase delta syndrome (APDS). A marketing authorisation application is expected to be submitted to the EMA in October, the company announced on 1 August.

Sanofi SA generated sales of €10.1 billion in the second quarter with Dupixent, jointly developed with Regeneron Pharmaceuticals Inc, making the single biggest contribution to turnover. Sales for the company as a whole increased by 15.7%, while sales for Dupixent, an anti-inflammatory drug, rose by 58% to €1.96 billion.

AstraZeneca Plc reported a 31% increase in total revenue to $10.8 billion for the second quarter, driven by its cardiovascular and oncology medicines as well as income from Alexion Pharmaceuticals, a developer of drugs for rare diseases which it acquired in July 2021. The second quarter revenue figure includes three drugs with more than $1 billion in sales: Tagrisso for lung cancer; Farxiga, for diabetes, heart failure and kidney disease; and Alexion’s Soliris for myasthenia gravis and three other rare diseases.

GlaxoSmithKline Plc has revised upward its sales and adjusted operating profit guidance for 2022 – its first financial forecast since the demerger on 18 July of Haleon, its consumer products business. The new GSK is expected to produce sales growth of between 6%-8% this year, up from the previously forecast 5%-7%. Adjusted operating profit is expected to grow by between 13% to 15%, compared with a previous range of 12% to 14%.