In this week's EuroBiotech Report, Neil Woodford's fund got deeper into Circassia, pulled out of Sanofi and criticized GlaxoSmithKline for performing "poorly operationally." Servier scooped up regional rights to Taiho Pharmaceutical's refractory metastatic colorectal cancer drug in a $130 million (€115 million) deal. And more.
A phalanx of French biotechs rolled into New York this week for a meeting with life science investors. Among the 20 biotechs at the flesh-pressing festival were some laying the groundwork for IPOs on Nasdaq, including Eli Lilly-partnered diabetes player Adocia.
Celyad and Chiasma have joined the growing list of European biotechs to barrel into Wall Street in search of dollars. The companies are aiming to raise a total of around $185 million (€164 million), a sum that will go toward a mix of late-phase trials and CAR-T R&D.
Neil Woodford has pulled out of Sanofi and doubled down on Circassia, snapping up a 13.5% stake in the British allergy specialist. The deals were two of a string of stock sales and buys made by the fund manager as he shuffled his deck in recent weeks.
Medigene is preparing to ratchet up investment in T-cell receptor (TCR) R&D programs. The plan is to raise up to €50 million ($56 million), funnel the cash into R&D programs and create a pipeline of up to 10 TCRs.
Servier has continued its push into oncology and search beyond its walls for innovation by striking a $130 million (€115 million) deal with Taiho Pharmaceutical. The fee, which is made up of an upfront payment and near-term milestone, will give Servier the rights to Taiho's treatment for refractory metastatic colorectal cancer.
In this week's EuroBiotech Report, Biotie Therapies, Cosmo Pharmaceuticals, Targovax and Pieris Pharmaceuticals are all advancing plans to raise cash from public investors. Biotie and Pieris are following the well-trodden path to Nasdaq, although the latter is going by the circuitous route of an OTCQB listing on its way to a $35 million (€31 million) IPO on the main market. And more.
Genmab has moved a step closer to seeing daratumumab approved in double refractory multiple myeloma. A rolling submission for the breakthrough cancer therapy is now underway, raising hopes that the product will be on the market early next year.
Targovax is to merge with fellow Nordic biotech Oncos Therapeutics to create an immuno-oncology player with the critical mass to get noticed in the congested and fiercely fought field. The merged company will fuel the first-phase of its ambitions through a private placement, with an IPO in Oslo to follow within the next 12 months.
Pieris Pharmaceuticals has filed to step up to Nasdaq from OTCQB and add $35 million (€31 million) to its bank balance in the process. The listing would end Pieris' short stay on OTCQB, which began when it acquired Marika in a reverse merger late last year and allowed it to raise $13.5 million in a private placement from investors including OrbiMed Advisors.