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Cadence, VCs Relieve J&J's Pain, Map Out A Clever Exit In The Process

 
• By Paul Bonanos

When J&J offered to sell its Ionsys pain-relief patch at a fire-sale price last year, Cadence Pharmaceuticals' management team saw a diamond in the rough. But the specialty pharma didn't have the cash or the focus to take on a new project. Enter Frazier Healthcare Ventures, which organized an investor syndicate that teamed with Cadence management on a deal with enough moving parts to make Rube Goldberg proud. The arrangement birthed Incline Therapeutics Inc., an independent, privately held start-up backed by $43.5 million in venture money.

When Johnson & Johnson offered to sell its Ionsys pain-relief patch at a fire-sale price last year, Cadence Pharmaceuticals Inc.'s management team saw a diamond in the rough. [See Deal] But the specialty pharma didn't have the cash or the focus to take on a new project, even if getting it back on the market only required a quick fix.

J&J's Alza Corp. subsidiary briefly marketed Ionsys, which delivers the opiate drug fentanyl iontophoretically – through the skin using...

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Finance Watch: Lila Sciences Raises $235m To Refine Its AI Factories For Drugs And More

 
• By Mandy Jackson

Private Company Edition: Flagship’s Lila secures big series A cash six months after $200m seed funding announced in March. Also, Reunion Neuroscience increases its series A to $133m, Dualitas launches with $65m and Tasca grows its series A to $67m as its lead drug enters Phase I/II.

Nanobiotix/J&J Early Melanoma Data Show Potential For Future Indication

 
• By Mandy Jackson

Radiotherapy enhancer JNJ-1900 (NBTXR3) generated a 47% ORR and 78.9% DCR in melanoma patients after multiple prior rounds of treatment. Discussions about development in additional cancers are ongoing with partner J&J.

Roche Makes Major MASH Bid, Offering $2.4bn For 89Bio

 
• By Joseph Haas

About four months after GSK paid $1.2bn up front for another FGF21 analog in MASH, Roche looks to buy 89Bio, adding Phase III pegozafermin to its growing cardiometabolic pipeline.

Vepdegestrant Up For Grabs As Pfizer And Arvinas Step Aside

 
• By Manas Mishra

Pfizer and Arvinas have agreed to out-license their PROTAC breast cancer candidate, vepdegestrant, with Arvinas cutting jobs and refocusing on early-stage assets.

More from Business

Publisher’s Spotlight: Shortlist Unveiled For Citeline Japan Awards

 
• By Ian Haydock

Shortlists of potential winners in all categories of the Citeline Japan Awards 2025 have now been released. Join us at the event in Tokyo on October 21, it’s not too late to book your table!

Asia Deal Watch: Aditum Founds Kalexo With Mabwell To Develop Dual-Target SiRNA Asset

 
• By Joseph Haas, Xu Hu, Anju Ghangurde, Vibha Ravi, and Lisa Takagi

Plus deals involving Adagene/Exelixis, Biocytogen/Tubulis, Kwangdong/Ocugen, Dr. Reddy’s/J&J, Zydus/Synthon, Stallergenes/Nuance, Argo/Novartis, XW Pharma/Avadel, Biocytogen/Merck & Co., JCR/Medipal, Novatim/Radiance and more.

Roivant Sets The Stage For Commercial Return With Brepocitinib Data

 
• By Jessica Merrill

Positive Phase III data positions Roivant to launch the oral TYK2/JAK1 inhibitor for dermatomyositis, with an NDA filing planned in early 2026.