A new clinical-stage company with plans to develop therapies for neuropsychiatric disorders was launched in the UK on 18 June on the back of $140 million in Series A financing led by Access Biotechnology, the investment arm of Access Industries. The company, Draig Therapeutics Ltd, is an academic spin-out which capitalises on scientific discoveries made by two professors at Cardiff University in Wales.
Oncorena AB of Sweden has raised $13.9 million from a share issue to complete a Phase 1/2 study of a new treatment for renal cell carcinoma. The candidate treatment, ONC175, is a small molecule drug containing synthetically produced orellanine, which is a compound found in certain mushrooms. According to the company, the drug has demonstrated a highly organ-specific mode of action in preclinical studies and appears to be capable of killing human metastatic renal cancer cells. Separately, it is understood that orellanine does not affect organs other than the kidneys.
UK-based OutSee Ltd has secured seed funding of £1.8 million to expand its work in the field of predictive genomics. The company was founded by the scientist and entrepreneur Julian Gough who has an established career in bioinformatics and computational biology. OutSee’s proprietary technology is an AI-based predictive modelling tool that interrogates the molecular and cellular biology of the genome for drug targets. This is different from the more common method of pattern-matching which is based on genetic associations.
France-based Enterome SA has raised $19 million to accelerate development of a microbiome therapy that has shown promise in treating two types of lymphoma. The funds will be used to complete an ongoing Phase 1/2 study of the therapy, EO2463, and prepare for a registrational study. The Institute for Follicular Lymphoma Innovation (IFLI) of California, US, is a new investor, contributing $9 million to the project, with the balance coming from existing shareholders including Seventure Partners of France and Lundbeckfonden BioCapital of Denmark.
Eli Lilly and Co is to acquire Verve Therapeutics Inc of Boston, US, in a share transaction valued at $1 billion upfront in order to broaden its portfolio of treatments for people at risk of cardiovascular disease. Announced on 17 June, the deal comes two years after the companies entered a collaboration to explore the use of in vivo gene editing to develop therapies for genetic diseases. With a candidate medicine for artherosclerotic cardiovascular disease now in Phase 1b, the companies have decided to merge.
BioNTech SE, developer with Pfizer Inc of the first messenger RNA (mRNA) vaccine, is to strengthen its position in the growing field of RNA therapeutics with the acquisition of CureVac NV. Both companies have mRNA technologies, both are located in Germany and both have listings on the Nasdaq market in the US. In addition to experience with infectious diseases, both companies are developing candidate therapies for cancer.
Novo Nordisk A/S, developer of the semaglutide and liraglutide injectable medicines for obesity, has enlisted the help of Deep Apple Therapeutics Inc to enlarge its portfolio by discovering new small molecules that can treat obesity as well as other cardiometabolic diseases. The Danish company is to pay up to $812 million to secure the collaboration, which will give it access to an algorithm to screen potential compounds against a chosen target. The target is a non-incretin G-protein coupled receptor (GPCR).
SpliceBio SL, a clinical-stage genetic medicines company in Spain, has received $135 million in Series B financing to advance a new therapy for Stargardt disease, an inherited condition that can lead to the progressive loss of vision and blindness. The financing was co-led by EQT Life Sciences and Sanofi Ventures, with participation from the Roche Venture Fund and existing investors. It will help finance an ongoing Phase 1/2 trial of the company’s lead gene therapy candidate SB-007.
A French start-up company located in Strasbourg has been awarded €11.25 million in seed funding to develop neuroplastogens, a class of small molecule drug, for depression and neuropsychiatric disorders. Elkedonia SAS received the funding from a syndicate co-led by Kurma Partners and including Angelini Ventures, the venture capital arm of Angelini Industries of Italy.
The Philadelphia, US, based biotech company NodThera Ltd has started dosing patients in a trial of a small molecule drug for obesity that targets a protein in an inflammasome complex in the brain. The Phase 2 study will enrol 160 patients who are obese and may or may not also have type 2 diabetes. The trial will be carried out over 24 weeks with headline data expected in the second quarter of 2026. Although it is small, the trial is being positioned to test a relatively new concept: whether it is possible to change the course of obesity by correcting underlying metabolic dysfunction.