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London-based Ternary Therapeutics has raised a €4.1 million seed round to expand its platform for designing molecular glue drugs, with Paris-based VC daphni leading the financing alongside Pace Ventures, i&i Biotech Fund and Future Planet Capital.
French AI biotech Owkin has spun out its diagnostics division as a new company, Waiv, raising $33 million in financing led by OTB Ventures and Alpha Intelligence Capital to scale AI-powered precision testing.
VALANX Biotech has raised €3 million in a Series A funding round to advance an antibody-drug conjugate (ADC) targeting LIV-1 for triple-negative breast cancer. The developments are currently still at the preclinical stage.
Paris-based Enodia Therapeutics announced the acquisition of preclinical assets from San Francisco-based Kezar Life Sciences’ pipeline. Both companies are developers of small molecules that target protein degradation, a field that is attracting significant attention for its potential to treat previously intractable diseases.
Cost-cutting measures sometimes arrive wrapped in reassuring language. “Horizon” is the name Evotec SE has given to the next stage of its restructuring programme, which will affect additional sites and their employees. Up to 800 staff may find it difficult to look past the polished wording.
Ipsen has announced the immediate withdrawal of its cancer drug Tazverik across all indications after serious safety issues emerged in an ongoing Phase III trial.
The Mainz-based biotech company BioNTech is facing a historic leadership change as the minds behind the COVID-19 vaccine prepare for a fresh start. Uğur Şahin and Özlem Türeci plan to focus entirely on mRNA platform technology and will launch a spin-off at the end of the year.
Setback after earlier optimism: the Roche drug giredestrant has delivered mixed clinical data. Several clinical trials had suggested the drug could play an important role in the treatment of hormone-dependent breast tumours and potentially become a blockbuster for the company. Now, however, a key Phase III study has failed to meet its primary endpoint, even as regulatory submissions are already under way.
Roche and Zealand Pharma have delivered a clinically positive phase 2 readout for petrelintide, their amylin-based obesity drug, but the market reaction made clear that “positive” is no longer enough in the weight-loss race. After the companies reported that patients achieved up to 10.7% mean weight loss at 42 weeks, shares in both partners fell sharply as investors questioned whether the candidate can stand out in an increasingly crowded field.
Italian drugmaker Alfasigma has struck a licensing deal to take over global rights to linerixibat, GSK’s late-stage candidate for cholestatic pruritus in primary biliary cholangitis (PBC), in a transaction that could be worth up to $690 million to the British pharma group. Under the agreement, GSK will receive $300 million upfront, with additional regulatory and commercial milestones plus tiered double-digit royalties on worldwide sales.