News

Germany-based CureVac NV, which is developing a messenger RNA (mRNA) vaccine against Covid-19, has closed its initial public offering of shares on the US Nasdaq market, raising a gross $245.3 million, including the full exercise of the underwriters’ share options. The stock was priced at $16 per share.

Sanofi SA is to acquire Principia Biopharma Inc of the US and its pipeline of Bruton’s tyrosine kinase (BTK) inhibitors in a deal valued at approximately $3.36 billion. The two companies have been collaborating since 2017 and the merger is expected to trigger increased investment across the BTK inhibitor class of molecules.

A new therapy has been approved by the US Food and Drug Administration to treat a rare central nervous system (CNS) disorder known as neuromyelitis optica spectrum disorder – the third drug to be authorised for this indication in a little over a year. The drug, Enspryng (satralizumab), is a monoclonal antibody developed by Chugai Pharmaceutical Co Ltd, a member of the Roche group.

Bayer AG has taken steps to expand its portfolio of medicines for gynaecological diseases with the acquisition of UK-based KaNDy Therapeutics Plc and its non-hormonal compound, NT-814, for the treatment of the symptoms of menopause. The acquisition complements Bayer’s existing portfolio of birth control treatments, as well as therapies for management of the menopause.

A candidate antibody therapeutic for atopic dermatitis has met its primary endpoint in a Phase 2a study using a novel treatment strategy. The therapy, KY1005, targets the OX40-ligand, a key regulator of the immune system. In the study, the compound showed a clinically meaningful improvement in disease activity compared with placebo, according to the developer Kymab Ltd.

The Swedish specialty pharmaceutical company Calliditas Therapeutics AB has reached an agreement to acquire a controlling 62.7% interest in Genkyotex SA of France whose lead product candidate, setanaxib, is in clinical development for primary biliary cholangitis (PBC), a fibrotic orphan disease. The deal is the first step towards a full acquisition of the company whose total consideration is approximately €32 million, not including potential milestones of up to €55 million for regulatory approvals of setanaxib. 

Germany-based CureVac BV, which is developing a messenger RNA (mRNA) vaccine against Covid-19, has made an initial public offering of its shares on the US Nasdaq market raising approximately $213.3 million. The offering is expected to close on 18 August.

It consists of 13.3 million common shares at a price of $16 per share Underwriters have a 30-day option to purchase up to an additional 1.9 million shares at the offer price, less underwriting discounts and commissions. The shares were scheduled to start trading on 14 August.

H. Lundbeck A/S generated a 5% increase in revenue to DKK 8.9 billion (€1.2 billion) in the first half of 2020, while also recording higher spending on research and development. This included spending on a newly approved product for migraine as well as the impairment of an asset.

The European Commission has concluded an advance purchase agreement with AstraZeneca Plc for the supply of up to 400 million doses of a Covid-19 vaccine which it is developing with the University of Oxford. Announced on 14 August, the agreement covers the initial purchase of 300 million doses, with an option for an additional 100 million. The price was not disclosed. However in a separate announcement, AstraZeneca said it would supply the vaccine “in an eqitable manner at no profit during the pandemic.”

Evotec SE continued to expand its capacity for servicing drug development in the first half year by signing new contracts with existing and new pharma partners. Despite the Covid-19 pandemic, the company increased staff levels by 8%.