Belgium-based Bone Therapeutics SA has extended its financial runway into the second quarter of 2021 after negotiating equity, bond and loan deals that yielded €15 million in new capital. The proceeds will be used to advance two lead assets for bone health into late-stage development.
BioMarin Pharmaceutical Inc has taken steps to extend its footprint in gene therapy with a preclinical collaboration with Dinaqor AG of Switzerland to develop therapies for rare genetic cardiomyopathies. Cardiomyopathies are diseases of the heart muscle, a significant proportion of which are inherited. Dinaqor will received an undisclosed upfront payment from BioMarin and is eligible for development, regulatory and commercial milestones. BioMarin is also investing in the Swiss company.
The cancer charity Cancer Research UK has chosen a bispecific protein therapeutic as a new development project, electing to take the molecule, CB213, into a Phase I clinical trial in patients with solid tumours. The therapeutic is being developed by Crescendo Biologics Ltd, which announced a partnership with the charity on 5 May. Crescendo has a preclinical portfolio of molecules targeting a range of cancers. The molecules are small, and based on the variable domain of the heavy chain of an antibody.
Norway-based BerGenBio ASA has raised NOK 500 million (€45.4 million) in an oversubscribed private share placement to support the development of its oncology portfolio which focuses on AXL inhibition. The lead candidate, bemcentinib, is in five Phase 2 studies as a single agent, or in combination, in acute myeloid leukaemia and non-small cell lung cancer.
A candidate vaccine against Lyme disease has been given a boost following a collaboration announced on 30 April between the vaccine’s developer Valneva SE and Pfizer Inc. The vaccine, VLA15, is currently in Phase 2 as a prophylactic treatment against Lyme disease. Under the agreement, Valneva will fund 30% of development costs up to regulatory submission. Pfizer will lead late-stage development and be responsible for commercialisation, paying Valneva tiered royalties on product sales starting at 19%.
Bavarian Nordic A/S has received a new order under a 2017 contract with the US government to supply its non-replicating smallpox vaccine to the US strategic national stockpile. The vaccine, Jynneos, is indicated for people who have been determined to be at high risk for infection from smallpox or monkeypox, which both belong to the Orthopoxvirus genus of viruses. It was approved by the Food and Drug Administration in September 2019. According to the Centers for Disease Control and Prevention, the last natural outbreak of smallpox in the US occurred in 1949.
AstraZeneca Plc has partnered with the University of Oxford to develop, manufacture and distribute a candidate vaccine for COVID-19 that is based on technology originating from the university and its 2016 spin-out Vaccitech Ltd. The vaccine, ChAdOx1 nCoV-19, is in a Phase 1 clinical trial to test its safety and efficacy in healthy volunteers. Initial results from the study are expected to be reported in June.
Compass Pathways Ltd has raised $80 million in a Series B investment round to support its lead product for treatment-resistant depression – a psilocybin therapy that has received breakthrough therapy designation from the US Food and Drug Administration.
Immunic Inc is to test its lead anti-inflammatory product IMU-838 as a potential COVID-19 therapeutic after preclinical studies showed the small molecule drug was active against the coronavirus SARS-CoV-2. Separately, the company has announced the pricing of a new share issue which is expected to yield a net $14 million.
US-based SwanBio Therapeutics Inc has raised an additional $52 million in an expanded Series A financing to advance a candidate gene therapy for the inherited neurological disorder adrenomyeloneuropathy (AMN). The new financing brings the total raised in the round to $77 million. It will enable to company to conduct studies leading up to a first clinical trial as well as build up its manufacturing capacity.