News

The German biotech BioNTech SE has joined forces with Pfizer Inc to co-develop a candidate prophylactic vaccine against infection from the coronavirus 2019-nCoV which has affected 167,515 people globally as of 16 March and resulted in 6,606 deaths.

The agreement was announced by both companies on 17 March and aims to accelerate development of BioNTech’s vaccine for the disease, BNT162, which is a messenger RNA (mRNA) molecule. The candidate vaccine is expected to enter clinical testing by the end of April.

A Phase 3 trial of a new drug combination for ovarian cancer failed to meet its primary endpoint, AstraZeneca Plc announced on 12 March. The trial was investigating cediranib, an experimental vascular endothelial growth factor receptor (VEGFR) inhibitor, with Lynparza (olaparib), an approved cancer drug that targets DNA damage response in cells and tumours.

A saga involving CureVac AG, one of Europe’s most promising biotechs, entered a new phase on 16 March when the European Commission offered to provide up to €80 million in financial support to help the company scale up development and production of a vaccine against the coronavirus 2019-nCoV, also known as SARS-CoV-2.

Germany-based CureVac has dismissed speculation that it might be the subject of a takeover bid, saying it was focusing its attention on using its messenger RNA (mRNA) technology to develop a candidate vaccine to prevent infections from the coronavirus 2019-nCoV. “Internal efforts are focused on the development of a coronavirus vaccine with the goal to reach, help and to protect people and patients worldwide,” the company said in a statement on 15 March.

A Phase 3 study of the anti-PD-L1 antibody avelumab (Bavencio) has been stopped early after the trial’s data monitoring committee said it was unlikely to meet its primary endpoint. The sponsors, Merck KGaA and Pfizer Inc, announced the decision on 13 March.

Life Sciences Partners BV (LSP) of the Netherlands has raised $600 million for its sixth life science fund, enabling it to invest in 15 to 18 predominantly European private companies developing new medicines and medical technologies. LSP 6 is one of the largest funds in Europe dedicated to this sector. Announcing the fund’s close on 10 March, LSP said that it was able to attract funds from a diverse group of investors including pension funds, insurance companies, wealth managers, government funds and family offices.

Novartis has secured approval in the US for Isturisa (osilodrostat), a new treatment for Cushing’s disease, a rare disorder in which the adrenal glands make too much of the cortisol hormone. Announcing the decision on 7 March, the Food and Drug Administration said that Isturisa is the first drug to directly address this cortisol overproduction by blocking the enzyme 11-beta-hydroxylase and preventing cortisol synthesis.

The Swiss oncology company, Numab Therapeutics AG has raised CHF 22 million (€21 million) in a Series B round to advance a portfolio of cancer therapies based on multi-specific antibodies that can engage two or more antigens at once. The new investors include 3SBio and its subsidiary Sunshine Guojian Pharmaceutical Co Ltd, which recently concluded a collaboration with Numab, giving the Chinese company rights to up to five antibody molecules in its portfolio.

A drug previously approved to treat idiopathic pulmonary fibrosis, Ofev (nintedanib), has received a new indication in the US – to treat patients with chronic fibrosing interstitial lung diseases. Announcing the decision on 9 March, the Food and Drug Administration said it was the first treatment authorised for this group of fibrosing lung diseases which worsen over time. Ofev was developed by Boehringer Ingelheim GmbH.

Gilead Sciences Inc is to expand its presence in immuno-oncology with the acquisition of Forty Seven Inc whose lead product, magrolimab, is in clinical development for the treatment of several cancers. Gilead will acquire Forty Seven for $95.50 per share in cash giving a transaction value of about $4.9 billion. The deal is expected to close during the second quarter.