Company News

Forbion bioeconomy fund raises €164.5 million

Country
Netherlands

Netherlands-based Forbion has raised €164.5 million for a fund that supports projects in the food, agriculture, materials and environmental sectors. Founded in late 2023, the BioEconomy Fund I represents a different branch of the biological sciences than Forbion’s traditional pharmaceutical holdings. The goal is to support environmentally-friendly businesses that can shape future behaviour and consumption.

YolTech starts gene editing trial

Country
China

Shanghai, China-based YolTech Therapeutics Co Ltd has started clinical development of an in-vivo gene editing product for beta-thalassaemia, an inherited blood disorder that is estimated to involve one in every 100,000 patients worldwide. The disease affects the production of normal haemoglobin, a protein in red blood cells that carries oxygen to tissues in the body.

AZ to invest more in Canada

Country
United Kingdom

AstraZeneca Plc is to invest $570 million in infrastructure in Canada with the goal of executing more than 210 global clinical studies in the country. Announced on 23 January, the investment accelerates a move to place Canada on its map as a centre for global clinical development activity. It follows the UK company’s acquisition in 2024 of Fusion Pharmaceuticals Inc, a Canadian biopharmaceutical company developing alpha-particle radiotherapeutics for cancer. The acquisition of Fusion was completed last year for C$3 billion ($2.09 billion).

Gilead to acquire assets from LEO Pharma

Country
United States

Gilead Sciences Inc. has agreed to spend up to $1.7 billion to acquire rights to a package of preclinical assets directed against inflammatory diseases from LEO Pharma A/S of Denmark. Founded in 1908 and majority owned by a foundation, LEO has a global commercial presence in dermatology. The collaboration with Gilead will give the company financial support to further develop a small molecule programme for the treatment of multiple inflammatory diseases including atopic dermatitis, asthma and chronic obstructive pulmonary disease.

GSK to acquire IDRx

Country
United Kingdom

GSK Plc is to pay $1 billion upfront and potentially $150 million in milestone payments for IDRx Inc of the US which has an early clinical stage product for the treatment of gastrointestinal stromal tumours (GIST). The deal was announced at the start of the JP Morgan Healthcare Conference in San Francisco, US, on 13 January. It marks a significant expansion of the UK company’s portfolio.

J&J acquires Intra-Cellular

Country
United States

Johnson & Johnson Inc is to acquire all of the outstanding shares of Intra-Cellular Therapies Inc of the US in a deal that will significantly strengthen its neuroscience franchise. The transaction will be executed at $132 per share in cash for a total equity value of $14.6 billion. Announced on 13 January, the deal is the largest biotech merger since 2023, according to the Axios news website. The lead asset Caplyta (lumateperone), is an approved therapy for the treatment of adults with schizophrenia and depressive episodes associated with bipolar 1 or 2 disorder.

Lilly to acquire cancer programme from Scorpion

Country
United States

Eli Lilly and Co is to acquire an early clinical-stage cancer programme from the Boston, US, developer Scorpion Therapeutics Inc in order to increase its offering in breast cancer. The candidate drug, STX-478, is an inhibitor of PI3K-alpha. PI3Ks are a family of enzymes involved in cellular functions such as cell growth.

argenx gives preliminary 2024 results

Country
Netherlands

Netherlands-based argenx SE released a summary of its preliminary 2024 financial results on 13 January showing that global sales of its antibody drugs for autoimmune indications reached $2.2 billion last year of which $737 million was generated in the fourth quarter. In a statement, Tim Van Hauwermeiren, the chief executive, said the company is on course to be profitable in 2025. Founded in 2008, argenx has built a portfolio of antibody therapies based on discoveries around the neonatal Fc receptor which is responsible for maintaining the circulation if immunoglobuline G (IgG) in the body.

Regenxbio strikes gene therapy deal with Nippon Shinyaku

Nippon Shinyaku Co Ltd of Japan is to acquire development and commercialisation rights to gene therapies for two rare metabolic disorders under a new agreement with Regenxbio Inc of the US. The deal relates to the development of therapies for mucopolysaccharidosis 1, also known as Hurler syndrome, and mucopolysaccharidosis 2, also known as Hunter syndrome. Both diseases are caused by the absence or malfunctioning of lysosomal enzymes which are needed to break down long chains of sugar carbohydrates.

AbbVie partners with Simcere Zaiming in oncology

Country
United States

AbbVie Inc is to pay an upfront fee and potential milestone payments of up to $1.055 billion to Simcere Zaiming of China for an option to license a candidate drug for multiple myeloma. The asset is a trispecific antibody that is currently in Phase 1 studies in patients with relapsed or refractory myeloma in both China and the US. The antibody has a CD3 engaging arm and binding sites for two tumour antigens. These are G-protein coupled receptor class 5 member D (GPRC5D) and the B cell maturation antigen.