Financings in the first two months of 2022 amount to only a third of the money raised during the same timeframe of 2021 and the number of transactions is down by 56%. In total, there were 156 financings valued at $7.28 billion in January and February combined, compared with 346 financings worth $24.37 billion last year.

Up to $17M IPO to fund broad Alopexx research in PNAG

Alopexx Inc. filed to raise up to $17 million in an IPO that would advance its work in bacterial, fungal, and parasitic infections that express the antigenic target poly N-acetyl glucosamine (PNAG). The company has a vaccine candidate targeting PNAG that proved encouraging in a first-in-human study, along with a fully monoclonal antibody. The latter, known as F98, has been shown well-tolerated, with no serious adverse events turning up in phase I and pilot phase II trials.

Patient death prompts a partial clinical hold in Alpine cancer study

A patient’s death has caused the FDA to place a partial clinical hold on Alpine Immune Sciences Inc.’s phase I monotherapy dose escalation and expansion trial in adults with advanced malignancies. The study involves the combination of ALPN-202 (davoceticept), a conditional CD28 co-stimulator and dual checkpoint inhibitor, with Keytruda. The patient who died had choroidal melanoma that had already been treated with nivolumab and ipilimumab. The patient also had received a single dose each of davoceticept, Alpine’s lead candidate, and Keytruda. The death was attributed to cardiogenic shock. The treating physicians said it was likely related to immune-mediated myocarditis or possibly infection, according to Alpine. Seattle-based Alpine's (NASDAQ:ALPN) fell 13.8% at midday to $6.64.

Study finds variants that increase risk of severe COVID-19

The world’s largest genomics study in patients with life-threatening COVID-19 infections has uncovered 16 new genetic variants associated with severe disease and drawn up a roadmap for research into new therapies and diagnostics. The study “is much more powerful than other genetic studies, in part because we've defined a very narrow, coherent group of patients in the study with a very extreme form of disease - which makes it much easier to see differences with the rest of the population,” said Kenneth Baillie, chief investigator and academic consultant in critical care medicine at Edinburgh University.

DM1 competitors line runway

As investors await Neubase Therapeutics Inc.’s preclinical data from its myotonic dystrophy type 1 (DM1) effort, due during the MDA Clinical & Scientific Conference later this month, other programs crank through pipelines. Almost all are yet to enter the clinic. Among those in the mix with DM1 prospects are Design Therapeutics Inc., Dyne Therapeutics Inc., and Locanbio Inc.

Microbiotica aims to rethink care for cancer and ulcerative colitis, raising £50M series B

Microbiotica Ltd. of Cambridge, U.K., has raised £50 million ($67 million) in a series B funding round as the company aims to test its microbiome-based technology in early cancer and ulcerative colitis trials. The funding was co-led by new investors Tencent and Flerie Invest, with British Patient Capital on board along with existing investors Cambridge Innovation Capital, IP Group and Seventure. With response rates to checkpoint inhibitors still very low, Microbiotica’s scientists think that the way to improve the immune system’s response to these drugs is by modifying the bacteria present in the gut.

Australia introduces patent box legislation for med tech and biotech innovations

New legislation providing a tax incentive for Australian medical innovations was introduced in Australia’s House of Representatives, and industry stakeholders are lauding the move. The measure, providing a special tax regime on income derived from patents, a “patent box,” will apply for income years beginning on or after July 1. According to the plan, corporate income derived from these patents would be taxed at a 17% corporate tax rate. Currently profits on corporate IP are taxed at either 30% or 25% depending on a company’s turnover. 

Hutchmed receives $15M from Astrazeneca to start late-stage trial of Orpathys with Tagrisso

Hutchmed Ltd. has received a $15 million milestone payment from Astrazeneca plc for initiating a phase III trial testing the Hutchmed c-Met inhibitor Orpathys (savolitinib) in combination with Astrazeneca’s Tagrisso (osimertinib) in epidermal growth factor receptor (EGFR)-mutated non-small-cell lung cancer (NSCLC) for patients with mesenchymal epithelial transition receptor (MET) driven tumors. The study, called Saffron is the first global phase III trial of savolitinib. 

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Acer, Agenus, Aim Immunotech, Alpine Immune, American Cryostem, Asgard, Astellas, BMS, Brooklyn Immunotherapeutics, Chimeric, Eli Lilly, Elixirgen, Evaxion, Gilead, Glycomantra, Harpoon, Horizon, Janssen, Kalvista, Kintor, Lava, Legend, Merck, Moderna, Nectin, Optinose, Oxurion, Repare, Salubris, Sanbio, Servier, Spectrum, Taisho, Targovax, TLC, Tonix, Vaxil, Vyne, Zymergen