Merck & Co Inc has entered into a multi-year research collaboration with Cerevance Inc, a six-year-old neuroscience company, to identify novel targets for Alzheimer’s disease. Cerevance was launched by Takeda Pharmaceutical Company Ltd and Lightstone Ventures in 2016 to develop novel therapeutics for neurological and psychiatric disorders.
Gilead Sciences Inc is to spend $405 million to acquire MiroBio Ltd, a 2019 University of Oxford spin-out, which has developed a group of medicines designed to restore balance to the immune system. The technology is based on antibodies that stimulate immune inhibitory receptors in order to suppress inflammation. The target diseases are autoimmune disorders.
F2G Ltd has raised $70 million in venture capital finance to advance its antifungal agent, olorofim, which has shown promise in treating invasive Aspergillosis, a fungal infection affecting high-risk immunosuppressed populations. Olorofim is completing a Phase 2b study and poised to start Phase 3. It has already received a breakthrough therapy designation from the Food and Drug Administration and plans to make a US regulatory filing by the end of 2022.
Switzerland-based Addex Therapeutics Ltd has raised $4.2 million in equity finance in order to carry forward clinical and pre-clinical programmes directed at neurological disorders. The financing was arranged through Armistice Master Fund Ltd, an institutional investor, and was announced on 26 July. It makes a significant contribution to the company’s cash position which was CHF 8.8 million ($9.24 million) on 30 June, by extending cash well into 2023.
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.