Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with big news from two rising stars of the British biotech scene. Kymab began the week by revealing a $100 million Series C intended to fund the advance of its antibodies into the clinic. And Bicycle Therapeutics, which is based a short walk from Kymab, wrapped up the week by unveiling a pact with AstraZeneca that could be worth up to $1 billion. In between those events, Heptares Therapeutics, another resident of the United Kingdom’s ‘golden triangle,’ struck a deal to buy fellow European G protein-coupled receptor specialist G7 Therapeutics. FDA found fault with the formatting of Advanced Accelerator Applications’ NDA, resulting in a likely delay to the PDUFA data. And more. Nick Taylor
Kymab has raised $100 million (€94 million) to fund the advance of its lead candidates into the clinic. The Series C round, which attracted new Chinese investors, brings the total raised by the early-stage British antibody specialist up to $220 million.
AstraZeneca has penned a pact to develop bicyclic peptides with Bicycle Therapeutics. The value of the upfront payment, R&D funding and milestones could swell to $1 billion in the unlikely event all programs in the multitarget respiratory, cardiovascular and metabolic disease collaboration come to market.
Heptares Therapeutics is set to buy fellow European G protein-coupled receptor (GPCR) specialist G7 Therapeutics. The takeover will give Heptares access to additional technologies to stabilize GPCRs and a research outpost in Zurich, Switzerland.
The FDA is unlikely to review Advanced Accelerator Applications’ (AAA) gastroenteropancreatic neuroendocrine tumor (GEP-NET) drug Lutathera in time for the Dec. 28 PDUFA date. The anticipated delay stems from faults with the format, traceability, uniformity and completeness of data sets submitted in the NDA.