Novartis passed up the chance for further development of Kyorin's mocravimod for autoimmune diseases but newly formed Priothera is evaluating the S1P receptor modulator for acute myeloid leukemia patients undergoing hematopoietic stem cell transplantation.
Priothera has successfully closed a series A financing round of €30m which the Ireland-headquartered biotech will use to develop mocravimod, acquired from Japan's Kyorin Pharmaceutical Co., Ltd., as a potential best-in-class therapy for acute myeloid leukemia (AML).
The financing was led by Fountain Healthcare Partners with participation from co-lead investor HealthCap and funds managed by Tekla Capital Management, as well as EarlyBird Venture Capital
Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.
HTX-001 targeting the long non-coding RNA known as Wisper is being developed for non-obstructive hypertrophic cardiomyopathy. HAYA partnered with Lilly last year in obesity.
Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’
The sector is continuing to show resilience despite financial and market challenges.
In this week's episode: industry makes its case to Trump; Sarepta slammed by double blow; Chinese firms build obesity pipeline; Swiss biopharma staying strong; and Merck & Co looks to immunology and ophthalmology.
The Japanese drug maker is on track for three pivotal Phase III readouts and two regulatory submissions in 2025.
Neurocrine, Madrigal and Vanda updated investors on new drug launches, while Cytokinetics talked to investors about an FDA extension for aficamten.
