Shares in Sierra Oncology Inc. (NASDAQ:SRRA) surged 38.5% to $54.75 on April 13 as Glaxosmithkline plc made a $55-per-share offer for the company, which values it at $1.9 billion. The offer represents a premium of about 39% on Sierra’s April 12 closing share price of $39.52 and a premium of about 63% over its volume-weighted average share price over the last 30 trading days.
Bluebird Bio Inc. became the latest in a spate of gene therapy firms to disclose restructuring plans, as the company aims to save $160 million over the next two years, saying goodbye to about a third of its workforce. It’s the other shoe to drop after Cambridge, Mass.-based Bluebird rattled Wall Street with phraseology in the firm’s fourth-quarter earnings report March 4 that expressed “substantial doubt” regarding whether operations could go on.
Partners Sanofi SA and Swedish Orphan Biovitrum AB (Sobi) said regulatory submissions are expected this year for once-weekly factor VIII therapy efanesoctocog alfa in hemophilia A following top-line success in a pivotal phase III study, which showed a clinically meaningful prevention of bleeds in people with severe disease receiving prophylaxis over 52 weeks. The drug, also known as BIVV-001, has fast track and orphan designations in the U.S., and the companies are banking on its extended half-life to go up against blockbuster bispecific antibody Hemlibra (emicizumab) from Roche Holding AG as well as a potential gene therapy from Biomarin Pharmaceutical Inc.
LONDON – Targed Biopharmaceuticals BV has raised €39 million (US$44.2 million) in a series A financing that will enable it to take its targeted clot busting drug Microlyse into clinical development. The first-in-class product consists of urokinase, a serine protease involved in the conversion of inactive plasminogen to active plasmin, linked to a nanobody targeted at von Willebrand factor, the blood glycoprotein that plays a key role in hemostasis.
The FDA’s approval of Agios Therapeutics Inc.’s Pyrukynd (mitapivat) for treating hemolytic anemia marks a turnaround from nearly a year ago. That’s when Agios sold its commercial, clinical and research-stage oncology portfolio to privately held Servier Pharmaceuticals LLC to concentrate on rare diseases.
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