Welcome to the latest edition of our weekly EuroBiotech Report. August is typically a quiet time for biotech news, particularly in Europe. But this year a clutch of Europe's hottest biotechs have kept barreling forward through the dog days of summer. Our unseasonable flurry of news starts with BioNTech, which added Pfizer to the list of leading biotechs that have paid big bucks to access its mRNA platform. Elsewhere, two other rising stars pulled in VC funding to fuel their advance. Orchard Therapeutics secured $150 million to run late-phase gene therapy trials, while Artios Pharma raised $84 million to take DNA damage response programs to clinical proof of concept. A less well known name, Blueberry Therapeutics, raised £10 million, too. Vernalis accepted a £33 million buyout bid from Ligand Pharmaceuticals. And more.—Nick Taylor
1. Pfizer pays BioNTech $120M to form mRNA flu vaccine pact
Pfizer has struck a $425 million deal to work with BioNTech on the development of mRNA influenza vaccines. The Big Pharma is providing $120 million in upfront and near-term payments to enter into the R&D collaboration.
2. Fresh from GSK deal, Orchard raises $150M for multifront late-phase gene therapy push
Orchard Therapeutics has raised $150 million (€132 million) to advance three gene therapies toward approval. The series C round continues a transformative year for Orchard defined by the acquisition of GlaxoSmithKline’s portfolio of approved and experimental rare disease gene therapies.
3. Artios bags $84M to trial next-generation DNA damage response drugs
Artios Pharma has raised $84 million (£65 million) to take DNA damage response (DDR) programs to clinical proof of concept. The series B round sees more big-name investors give cash to researchers whose earlier work on PARP inhibitor Lynparza put DDR on the map.
4. Vernalis, weakened by FDA rejections, accepts £33M Ligand bid
Ligand Pharmaceuticals is set to acquire Vernalis for the knockdown price of £33 million ($42 million). The takeover agreement comes one year after Vernalis was left reeling by a second FDA rejection in quick succession.
5. Blueberry Therapeutics bags £10M to push dermatology nanomedicines
Athlete’s foot and fungal nail infections aren’t the types of diseases that tend to get investors’ hearts pumping, but that’s not stopping Blueberry Therapeutics. The U.K.-based startup reeled in £10 million ($12.7 million) in series B funding that will, among other things, advance its nanomedicine candidate for these two fungal infections.