Immatics Biotechnologies GmbH, of Tuebingen, Germany, and Arya Sciences Acquisition Corp. plan to merge as Immatics NV. Immatics will receive gross proceeds of up to $252 million at closing, which is expected in the second quarter of 2020.
Mainz, Germany-based Biontech SE has struck two deals in its Project Lightspeed, one for inside China and one for outside China, to develop and commercialize a COVID-19 messenger RNA (mRNA) prevention vaccine. The agreements caused the stock (NASDAQ:BNTX) to soar 29.3%, or $9.07, to close at $40 on Monday in the midst of a bear market.
The number of biopharmas and nonprofits pitching in to find a treatment for COVID-19 continues to grow. In the past few weeks, that number has more than doubled and it shows no signing of slowing.
Tony McKinney, the founder and CEO of Ethismos Research Inc., has worked with the small molecule he plans to take into the clinic this year for the past 10 years. All the while he’s used the same support group of personnel to develop the molecule. Sometimes that group works and sometimes it’s on hiatus.
In a second phase III trial for treating progressive forms of multiple sclerosis (MS), designed to confirm the successful first trial, Medday Pharmaceuticals SA’s investigational MD-1003 failed to hit its primary and secondary endpoints.
Privately held Silverback Therapeutics Inc. continued its drive toward the clinic with an oversubscribed series B financing of $78.5 million to support its lead candidate, an anti-HER2 antibody conjugated to a TLR8 agonist for treating moderate or high HER2-expressing solid tumors.
With the FDA approval of Novartis AG’s Isturisa (osilodrostat), an oral treatment for adults with Cushing’s disease, Recordati SpA, of Milan, is planning its U.S. market launch for the second or third quarter of this year. Recordati, which acquired Isturisa’s worldwide rights from Novartis in October for $390 million, expects sales to peak at $100 million annually.
Palvella Therapeutics Inc. has completed enrollment of its phase II/III trial for treating adults with pachyonychia congenita, a rare disease that eventually leads patients to a life of chronic pain and severe problems with walking.
Orionis Biosciences Inc. has begun a four-year collaboration with Novartis AG to discover and design small-molecule therapeutics such as protein degraders that target several therapeutic areas, including cancer. The agreement’s terms include research funding a convertible note investment, royalties and potential clinical milestones.
