After raising $20 million in a series B round in December 2022, Aravax Pty Ltd. has raised another $22 million to close out its series B round with $42 million that expands the syndicate with new investors Novartis Venture Fund, Breakthrough Victoria, Uniseed, Unisuper, and Agati Capital. The funds will take the company’s peanut allergy immunotherapy, PVX-108, through phase II trials.
After raising $20 million in a series B round in December 2022, Aravax Pty Ltd. has raised another $22 million to close out its series B round with $42 million that expands the syndicate with new investors Novartis Venture Fund, Breakthrough Victoria, Uniseed, Unisuper, and Agati Capital. The funds will take the company’s peanut allergy immunotherapy, PVX-108, through phase II trials.
Ovarian cancer diagnostics company, Cleo Diagnostics Ltd. has developed a blood-based diagnostic test for ovarian cancer based on the CXCL10 biomarker, which is produced early and at high levels by ovarian cancers but is largely absent in nonmalignant disease.
Sciwind Biosciences Co. Ltd.’s oral ecnoglutide (XW-004) produced strong weight loss results after short-term treatments, up to a 6.8% body weight decrease in obese and overweight participants after once-daily dosing for six weeks, according to data from the first four cohorts of the phase I trial.
Biontech SE and Duality Biologics Co. Ltd. have progressed BNT-323/DB-1303 to pivotal phase III trials, beginning in China in patients with hormone receptor-positive and HER2-low metastatic breast cancer.
Windtree Therapeutics Inc. is out-licensing China rights for phase III-ready heart failure candidate istaroxime to Lee’s Pharmaceutical Ltd. for $138 million, plus royalties. Lee’s, of Hong Kong, plans to begin a phase III study for istaroxime in acute heart failure in greater China, while Windtree, of Warrington, Pa., will conduct a global trial in cardiogenic shock, a form of sudden heart failure. Windtree reported positive phase II data in April 2022 that tested istaroxime in cardiogenic shock, which happens when the heart cannot pump enough blood and oxygen to vital organs.
The U.S. FDA has granted Mesoblast Ltd.’s allogeneic cell therapy Revascor (rexlemestrocel-L) rare pediatric disease designation following submission of results from a clinical trial in children with hypoplastic left heart syndrome, a potentially life-threatening congenital heart condition.
The U.S. FDA issued a complete response letter to Shin Nippon Biomedical Laboratories Ltd.’s U.S. subsidiary, Satsuma Pharmaceuticals Inc., for its NDA for dihydroergotamine nasal powder (STS-101) for acute treatment of migraine, with or without aura, in adults. Shin Nippon acquired Satsuma for $220 million in April 2023 and gained rights to STS-101.
Taiwan’s Bora Pharmaceuticals Co. Ltd. is acquiring Upsher-Smith Laboratories Inc. from Sawai Group Holdings Co. Ltd. and Sumitomo Corp. of Americas for $210 million to boost its commercial presence in the U.S.
A new wearable “hip-assist” robot developed by Samsung Electronics Co. Ltd. significantly improves gait, balance and dynamic movement in older adults and has the potential to not only enhance physical function but also mitigate the risk of falls.
