BioNTech SE and its partner Pfizer Inc, have announced positive interim Phase 3 data for their Covid-19 vaccine which is based on messenger RNA (mRNA) technology. The vaccine candidate was found to be more than 90% effective in preventing Covid-19 in participants without evidence of prior SARS-CoV-2 infection, the companies announced on 9 November.
With the help of a large Chinese investor, Congenica Ltd has completed a $50 million Series C funding round to advance its technology for analysing genomic data. The financing was co-led by Tencent Holdings Ltd, a Chinese conglomerate, and Legal & General Group, the financial services company. The proceeds will be used to expand the company’s analysis services to include somatic cancers as well as to generate information about wellness.
A new medical device designed to reduce sleep disturbances in adults affected by post-traumatic stress disorder has been approved by the US Food and Drug Administration. The digital device is intended for use with prescribed medications for the disorder and other recommended therapies for stress-related nightmares.
Merck & Co Inc is to acquire VelosBio Inc for $2.75 billion in cash giving it ownership of an early clinical stage antibody-drug conjugate (ADC) targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1). The drug, VLS-101, is being evaluated in Phase 1 and Phase 2 clinical trials for the treatment of patients respectively, with haematologic malignancies and solid tumours.
AstraZeneca Plc continued to profit from its increasingly diverse portfolio of medicines in the third quarter while advancing a Covid-19 vaccine for the global population. In a call with reporters on 5 November, company executives said Phase 3 data for the vaccine could potentially be available this year. Trials were paused in September in order to investigate a safety event, but resumed at international sites thereafter.
H. Lundbeck A/S secured sales of DKK 7.95 billion (€1.07 billion) for its five core products in the first nine months of 2020, for a year-on-year gain of 19%. Altogether these products accounted for 59% of the company’s total revenue of DKK 13.4 billion for the period. Earnings before interest and tax (EBIT) were DKK 1.78 billion, down from DKK 3.3 billion a year earlier, largely due to higher amortisations of product rights and impairments.
Novo Nordisk A/S held its operating margin steady at 45.3% in the first nine months of the year as sales of non-insulin medicines increased and administrative costs remained flat. Group sales for the period were DKK 94.8 billion (€12.73 billion), up by 6% from a year-earlier on a reported basis, and by 7% at constant exchange rates.
Sanofi SA is to make a public offer valued at €308 million to acquire Kiadis Pharma NV of the Netherlands, a cell therapy company with a pipeline of therapies based on natural killer (NK) cells of the innate immune system. The two companies have been collaborating since July on a combination therapy for multiple myeloma.
Sanofi is offering to pay €5.45 per share for the Dutch company which represents a premium of 272% over the closing price of its shares on Euronext Amsterdam and Euronext Brussels on 30 October. The transaction is expected to complete in the first half of 2021.
Abivax SA has raised €28 million from US and European investors to advance development of its lead small molecule drug, ABX464, in several inflammatory indications and Covid-19. ABX464 recently reported positive data in a Phase 2a study of patients with ulcerative colitis including a high remission rate at the end of a second year of treatment.
A readout of Phase 2b data in this indication is expected in the second quarter of 2021. ABX464 is also being studied in Crohn’s disease, rheumatoid arthritis, and as an antiviral treatment for HIV.
Addex Therapeutics Ltd is to receive $2.8 million in new research funding as part of an extended agreement with Indivior Plc, a specialty pharma company developing treatments for addiction disorders. The two companies have been working together since early 2018 and the amended agreement will now run until 30 June 2021.