A group of venture capitalists is providing €9.4 million to a new company that will hold exclusive licences to oncology assets originated by F-Star Biotechnology Ltd, a discoverer of bispecific antibodies. The Series A round is supported by Atlas Venture.
Evotec AG has entered into an agreement with AstraZeneca Plc to explore compounds and targets for the treatment of chronic kidney disease. The agreement involves an undisclosed upfront payment as well as performance-related milestone payments.
Symphogen A/S of Denmark has entered into an alliance with an antibody technology provider in the US to strengthen its therapeutic antibody business which is based on developing antibody mixtures for applications in cancer.
PolyTherics Ltd has become the latest company to announce a collaboration in the antibody-drug conjugate field – a technology that is attracting growing numbers of companies that are developing treatments for cancer.
Immatics Biotechnologies GmbH of Germany has raised €34 million from its existing investors in a Series D financing round, enabling it to conclude development of a therapeutic cancer vaccine intended as a first-line treatment for patients with renal cell carcinoma in combination with the current standard of care, Sutent (sunitinib).
AstraZeneca Plc’s biologics arm, MedImmune, has enlarged its presence in the field of antibody-drug conjugates with the acquisition of Spirogen Ltd, a London-based ADC company for up to $440 million, providing certain milestone targets are met.
Heptares Therapeutics Ltd is set to receive an undisclosed milestone from MorphoSys AG for delivering a stabilised form of a G protein-coupled receptor (GPCR) against a target selected by the German company. This is the first step towards developing antibodies targeting the protein complex.
The market for initial public offerings for biotechnology companies in the US is likely to remain open for some time as investors position themselves to take advantage of the demand for new medical therapies.
Hutchison MediPharma Ltd (HMP), the R&D unit of Hutchison China MediTech Ltd, has secured a licensing agreement for an early-stage oncology compound with Eli Lilly and Company – its third deal for a molecule in its six-compound clinical portfolio. The deal was announced on 9 October.
The Dutch biotech company, Pharming Group NV, has raised €12 million in a private share placement, sweetened with warrants, with existing and new institutional investors. The proceeds will support the manufacture of Ruconest, which is awaiting FDA approval.