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.
Vir Biotechnology Inc. and Alnylam Pharmaceuticals Inc. are expanding an infectious disease collaboration begun three years ago to take on the coronavirus. The effort now includes developing and commercializing RNAi therapies targeting SARS-CoV-2, the virus that triggers COVID-19, by developing siRNAs identified by Alnylam.
Abpro Therapeutics Inc. has granted an exclusive license to Abpro Bio Co. Ltd., the former Ugint Co. Ltd., to develop and commercialize two bispecific antibodies in Asian markets, including greater China, Japan and South Korea.
Gilead Sciences Inc. will acquire Forty Seven Inc. for $4.9 billion, or $95.50 per share in cash, bringing Gilead magrolimab, an anti-CD47 monoclonal antibody being developed to treat several cancers, including myelodysplastic syndrome (MDS), acute myeloid leukemia (AML) and diffuse large B-cell lymphoma (DLBCL).
