Two batches of phase II gene therapy data billed as positive in age-related macular degeneration were disclosed during the American Society of Retina Specialists annual meeting in Stockholm, where 4D Molecular Therapeutics Inc. made public interim 24-week data from the population extension cohort of the Prism study, which tested intravitreal 4D-150 in a broad population. 4D-150 combines the vector R100 with a transgene cassette that expresses both aflibercept (Eylea, Regeneron Pharmaceuticals Inc.) and a VEGF-C inhibitory RNAi element. Adverum Biotechnologies Inc., of Redwood City, Calif., unveiled results from a 26-week interim analysis of the Luna trial with ixoberogene soroparvovec (also known as ixo-vec and previously called ADVM-022). Shares of Emeryville, Calif.-based 4D (NASDAQ:FDMT) were trading at $22.18, down $4.57, or 17%, and Adverum (NASDAQ:ADVM) was selling for $7.47, a drop of $1.45, or 16%.

Despite Q2 drop, 2024 H1 biopharma financings near full-year 2023

Biopharma firms raised a total of $22.94 billion in the second quarter (Q2) of 2024. Although a 51% decline from Q1's $47.25 billion, with more than $70 billion raised in the first half (H1) of the year, financings in 2024 are already approaching 2023’s full-year total of $70.97 billion. Biopharma financings in the first half of 2024 reached $70.19 billion, marking a 130% increase over the first half of 2023. Only the first half of 2021, which saw $71.58 billion raised, has been higher.

Cardurion’s novel cardiovascular pipeline draws $260M series B

In one of the largest venture rounds for biopharma in 2024, Cardurion Pharmaceuticals Inc. closed a $260 million series B financing, with funds slated to advance and expand its pipeline for potentially first-in-class drugs targeting cardiovascular disease. The series B was led by Ascenta Capital, and gives the Burlington, Mass.-based company more than enough runway to reach readouts on its two lead programs: CRD-750, a PDE9 inhibitor in phase II trials for two types of heart failure, and CRD-4730, a CaMKII inhibitor for treating rare cardiovascular disease catecholaminergic polymorphic ventricular tachycardia.

SK Biopharm grows radiopharma reach with $571.5M Full-Life deal

As the “most concrete achievement” since its entry into the radiopharmaceutical therapy (RPT) space last year, SK Biopharmaceuticals Co. Ltd. picked up rights to Full-Life Technologies Ltd.’s RPT asset, FL-091, in a deal fetching up to $571.5 million. Under the terms announced July 16, Seongnami-si, South Korea-based SK Biopharm will license exclusive global rights to Full-Life’s neurotensin receptor 1 (NTSR1)-targeting radionuclide drug conjugate (RDC) program, FL-091 – as well as back-up compounds – to develop, manufacture and commercialize the therapy for multiple solid tumors. SK Biopharm also claims right of first negotiation to license other pre-selected RDC programs from Full-Life, the company said.

Sotio, Biocytogen link up in $325M ADC discovery pact

Sotio Biotech AS and Biocytogen Pharmaceuticals Co. Ltd. are partnering to discover antibody-drug conjugates (ADCs) via an option and license agreement worth up to $325.5 million plus sales royalties. The deal grants Sotio of Prague, Czech Republic, the option to license multiple fully human bispecific antibodies generated with Biocytogen’s Renlite platform, which Sotio will use to develop next-generation ADCs targeting solid tumors. The agreement includes an option for Sotio to leverage Biocytogen’s ADC platform.

Renalys’ ¥6B series A to fund phase III IgAN trial in Japan

Renalys Pharma Inc. completed a ¥6 billion (US$38.199 million) series A round that will enable it to complete a phase III trial for sparsentan for immunoglobulin A nephropathy (IgAN) in Japan. As earlier reported by BioWorld, Tokyo-based Renalys in-licensed rights to sparsentan in January 2024 from Travere Therapeutics Inc. to develop the compound in Japan and 13 Asian countries to treat IgAN, a rare kidney disease. In April 2024, Renalys submitted an IND application for sparsentan to Japan’s Pharmaceuticals and Medical Devices Agency. It plans to initiate an open-label registrational study in the second half of 2024, with anticipated results from the urine protein/creatinine ratio endpoint in the second half of 2025.

Also in the news

4SC, Abbvie, Abtherx, Actio, Algernon, Alltrna, Annovis, Argenx, Azafaros, Biocytogen, Cassava, Envisagenics, Eton, Evommune, Ginkgo Bioworks, Innovotex, Kyverna, Lexicon, Mediwound, Meliora, Nouscom, Nymox, Opthea, Oxford Biomedica, Passage, Pharmnovo, Predicta, Processa, Scorpion, Sellas, SFA, Silo, Sionna, Sotio, Syngenta, Synamics, Tharimmune, Zai Lab