Apellis could receive up to $1.25 billion from Swedish Orphan Biovitrum (Sobi) AB in their collaboration to develop systemic pegcetacoplan, a C3 therapy for treating several rare diseases in hematology, nephrology and neurology. The payment to Apellis includes $250 million up front, $80 million in committed development reimbursements paid over four years and up to $915 million in regulatory and commercial milestones, plus tiered double-digit royalties. The two companies said they plan to advance five parallel registrational programs that include two new programs in hematology. Apellis stock dropped 7% at midday while Sobi stock (STO:SOBI) rose 7.58% for the day.  

Cstone inks $1.15B-plus deal with Eqrx for two immune checkpoint inhibitors

Just weeks after exclusively out-licensing China rights for its anti-PD-L1 monoclonal antibody (MAb), sugemalimab, to Pfizer Inc., Cstone Pharmaceuticals Co. Ltd. has monetized it again in a valuable new deal with Eqrx Inc. Deal terms include $150 million up front and as much as $1.15 billion in milestones for Cstone in exchange for full commercial rights to sugemalimab and the anti-PD-1 MAb CS-1003 outside greater China. Cstone could also receive tiered royalties if the products reach market.

Multiple surveys show decline of SARS-CoV-2 antibodies

LONDON – Three large-scale population surveys conducted between late June and the end of September have shown the prevalence of SARS-CoV-2 antibodies in England declined by 26.5% over three months. The findings rest on the results of more than 350,000 self-administered lateral flow blood tests that were carried out at home by volunteers who were randomly selected from general practitioner registers. Of these, 17,000 had positive antibody tests.

Scholar Rock soars on positive phase II findings in SMA

Shares of Cambridge, Mass.-based Scholar Rock Holding Corp. (NASDAQ: SRRK) were trading midday at $24.43, up $10.71, or 78% on positive six-month interim analysis results from the TOPAZ phase II trial. Treatment with SRK-015 led to improvements in Hammersmith scale scores (the primary efficacy endpoint) in all three cohorts of patients with type 2 and type 3 spinal muscular atrophy (SMA). Dose response in the primary efficacy endpoint turned up across all evaluated timepoints in the double-blind, randomized portion of the trial (cohort 3). Specifically, the high-dose arm of cohort 3 attained a 5.6-point mean improvement from baseline in the Hammersmith Functional Motor Scale Expanded as compared to the low-dose arm, which attained a 2.4-point mean improvement at the six-month interim analysis timepoint. No safety signals were identified from the interim analysis. SRK-015 is a selective inhibitor of the activation of myostatin.

Simcere launches $460M IPO in Hong Kong, shares drops 24%

Chinese drugmaker Simcere Pharmaceutical Group Ltd. raised HK$3.57 billion (US$460.6 million) in Hong Kong by issuing 261 million shares at HK$13.7 apiece on Oct 27. Its debut hit a setback, with its share price dropping more than 20% in mid-morning and extending losses to nearly 24% to close at HK$10.46.

Regulatory decisions weigh on BioWorld Neurological index

Two complete response letters (CRLs) for group members dispatched this month by the FDA was enough to contribute to a flat performance in October for the BioWorld Neurological Diseases index. Overall, the price-weighted index has remained underwater for most of the year.

The great and the good of European biotech assemble online for digital edition of Bio-Europe Fall

DUBLIN – The dateline says it all. Everyone and anyone with an interest in European biotechnology were due to assemble in Munich this week, the German biotech hub which was originally chosen to host Bio-Europe Fall 2020. Given the rising numbers of confirmed COVID-19 cases across the globe in recent months that was never going to happen. The fall meeting followed the spring edition of Bio-Europe in becoming an online-only meeting. Meeting organizers EBD have grown adept at capturing the essence of the physical meeting and transforming it into a digital event. So the customary startup slam and company presentations can be followed in real-time or can be called up on demand. Pre-recorded fireside chats and plenary sessions abound. The meeting’s core offering of back-to-back one-on-one meetings with any number of prospective partners is unchanged. They now take virtual form, however, and delegates have to supply their own coffee and champagne, should it be required for any reason.

Cogstate sells global rights for cognitive function tests to Japan’s Eisai for $45M

PERTH, Australia – Neuroscience technology company Cogstate Ltd. and Japanese pharmaceutical company Eisai Co. Ltd. signed a deal under which Eisai will have global development rights and exclusive commercialization rights of all cognitive function tests developed by Cogstate, including the Cogstate Brief Battery (CBB) for use in health care and other markets. The licensing deal is an expansion of an existing partnership executed in August 2019 whereby Eisai secured exclusive development and commercialization rights in Japan for all cognitive function tests developed by Melbourne-based Cogstate. The CBB is a digital tool developed by Cogstate that enables cognitive function self-checks and consists of four tests evaluating psychomotor function, attention, learning and memory, and working memory. Under the terms of the agreement, Cogstate will receive an upfront payment of $15 million, payable within 45 days. Cogstate will be eligible for up to $30 million in sales royalties. In addition, Eisai will fund product development activities to tailor Cogstate solutions for each territory, and it will be responsible for all commercial activities. The resulting data from the technology will be jointly owned by Eisai and Cogstate.

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