AbbVie Inc of the US has formed an alliance with the Belgian company iSTAR Medical SA to further develop and commercialise a surgical device for treating patients with glaucoma. Glaucoma is a progressive disease estimated to affect more than 100 million people globally of which primary open-angle glaucoma is the most common form. The iSTAR device is designed to enhance natural fluid outflow from the eye, reducing intraocular pressure and the need for medication.
Oxford Science Enterprises (OSE), an independent investor in science generated at the University of Oxford, has raised £250 million from a group of new and existing investors enabling it to extend its financial support to start-up companies across the life sciences, healthcare technology and deep technology sector. In addition to providing seed funding, OSE supports later-stage funding rounds for more mature companies in its portfolio.
Enterome has entered into a new partnership to support development of its pipeline of microbiome-based therapeutics – this time with Nestlé Health Science. The deal will deliver €40 million upfront in cash and equity from Nestlé, enabling Enterome to bring its lead immune disease product into the clinic. This product, EB1010, is an inducer of the interleukin-10 cytokine. IL-10 has anti-inflammatory properties that play a central role in maintaining normal tissue homeostasis. EB1010 is being developed to treat inflammatory bowel disease and food allergies.
Agomab Therapeutics NV has secured an additional $40.5 million in Series B funding in order to progress its pipeline of small molecule and antibody therapeutics for regenerating damaged tissue. The latest funding follows $74 million raised in 2021, bringing the total generated from the round up to $114 million. Pfizer Inc led the latest facility through its investment vehicle Pfizer Breakthrough Growth Initiative.
AstraZeneca Plc is to pay up to $1.27 billion to acquire the US company TeneoTwo Inc in a bid to strengthen its pipeline of medicines for haematologic malignancies. TeneoTwo’s portfolio features an early clinical stage T cell engager. These are bispecific antibody therapeutics which are engineered to redirect the immune system’s T cells to recognise and kill cancer cells.
NewAmsterdam Pharma BV has secured a licensing deal for its lead drug, a cholesterol lowering agent for patients who aren’t well controlled on statins. The partner is the Menarini Group of Italy which already has a cardiology portfolio of 18 products and is prepared to pay up to €1 billion for rights to the new product candidate.
Oncogeni Ltd, a company founded in 2019 by the British scientist and Nobel Laureate Martin Evans is to be acquired by Roquefort Therapeutics Plc in order to progress its preclinical assets for cancer. The all-share transaction, announced on 22 June, has been valued at around £4 million. Concurrently, the enlarged company will have two new investors: Daiichi Sankyo Co Ltd and the venture capital investor CH Health.
F-star Therapeutics Inc is to be acquired by a subsidiary of a large Chinese pharma group giving it a new setting in which to develop its bispecific antibodies for cancer. The acquirer is invoX Pharma, a subsidiary of Sino Biopharmaceutical Ltd which has a portfolio of small molecule drugs and biologics to treat cancer and other diseases.
Ipsen SA is to expand its oncology portfolio with the acquisition of Epizyme Inc, a US developer of epigenetic medicines. Epizyme’s lead product, Tazverik (tazemetostat) has been approved for two cancer indications in the US – diseases that are not covered by Ipsen’s current portfolio.
Bpifrance, the French national investment bank, has issued a grant valued at €10 million to Osivax SAS, a biotech company based in Lyon, to advance development of a broad-spectrum influenza vaccine candidate. The financing is part of a larger initiative by the French government to promote medical innovation and prepare for future pandemics and infectious diseases. Osivax will use the funds to prepare its vaccine, OVX836, for a Phase 2b field efficacy trial against a broad range of circulating influenza strains.