Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with Ablynx, which posted data that took a little of the shine off its upcoming takeover by Sanofi. MorphoSys filed to raise $150 million in a Nasdaq IPO. Redx halted an early-phase trial of its cancer drug after the first patient enrolled suffered adverse events. NMD raised money to take two orphan neuromuscular disease programs through clinical proof of concept. Shares in C4X Discovery jumped after it unveiled a deal with Indivior. And more. -Nick Taylor
1. As Sanofi buyout nears, Ablynx lupus drug flunks midphase trial
A phase 2 trial of Ablynx’s vobarilizumab in systemic lupus erythematosus has missed its primary endpoint. The setback tarnishes one of the drugs Sanofi is set to acquire through its €3.9 billion ($4.8 billion) takeover of Ablynx.
2. MorphoSys seeks $150M IPO to fund late-phase anticancer push
MorphoSys has filed to raise $150 million in a Nasdaq IPO. The listing will enable MorphoSys to pump $225 million into the development of MOR208 to establish the anti-CD19 antibody as a rival to CAR-T therapies and other therapeutics in a pair of oncology indications.
3. Redx pauses WNT cancer trial after first patient suffers adverse events
Redx has hit pause on a phase 1/2a trial of its porcupine inhibitor after the first patient to receive the drug suffered “clinically significant” adverse events. The blow continues a rotten run for Redx, which spent half of last year fighting to resolve a debt crisis.
4. NMD bags €38M to run orphan neuromuscular disease trials
NMD Pharma has raised €38 million ($47 million) to advance two orphan neuromuscular disease programs through clinical proof of concept. The series A round equips NMD to learn whether the evidence of efficacy seen in models of myasthenia gravis and amyotrophic lateral sclerosis translates into the clinic.
5. U.K. biotech C4XD leaps on $294M addiction drug deal with Indivior
Shares in U.K. biotech C4X Discovery almost doubled today after Reckitt Benkiser spin-out Indivior agreed a $294 million deal for a drug candidate to treat addiction.