Eli Lilly and Company is acquire Adverum Biotechnologies Inc, giving it a Phase 3 gene therapy for a common eye disorder and expanding its portfolio of genetic medicines. The acquisition, priced at approximately $262 million, comes just five months after Lilly made a much bigger outlay for Verve Therapeutics Inc, a Boston, US based company, which has an in vivo gene editing product for cardiovascular disease. This acquisition was valued at $1 billion upfront.
Omnix Medical Ltd, based in Israel, has raised $25 million from a Series C funding round to accelerate development of a pipeline of antimicrobials directed against multidrug-resistant infections. Announced on 15 October, the financing was co-led by Harel Insurance & Finance Group, one of Israel’s largest financial institutions, and the European Innovation Council Fund, a venture initiative of the European Commission under the Horizon Europe research programme.
Tubulis GmbH, a German company with a portfolio of antibody-drug conjugates, has raised €308 million in a Series C financing round in what is being described as the largest C round for a European biotechnology company and the biggest financing globally for a private ADC developer. Announced on 15 October, the round was led by Venrock Healthcare Capital Partners with participation from additional new investors Wellington Management and Ascenta Capital.
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