Public Company Edition: Upstream grossed $255m and CAMP4 raised $75m in October’s first initial public offerings. In follow-on offerings, Crinetics and Scholar Rock brought in $500m and $300m, respectively. Also, Turnstone cut 60% of its workforce and Gritstone filed for bankruptcy.
Axcynsis is developing a derivative of the chemotherapy agent Yondelis as a new payload, which the Singapore venture will first apply to a Claudin 6-targeting ADC it plans to take into a Phase I trial in the US, its chairman, CEO and founder tells Scrip in an interview.
Although the data are from a small bridging study, MeiraGTx plans to discuss Phase III options for AAV-GAD in Parkinson’s disease after showing efficacy on a disease rating scale and a quality-of-life measure.
The IL-23 antagonist Omvoh is under FDA/EMA review for Crohn’s disease; Lilly reported new Phase III data showing the drug is better than Stelara on multiple endpoints of histologic response.
ARM’s Cell and Gene Meeting on the Mesa offered optimism that a biopharma financial market recovery is under way, but cell and gene therapies still are seen as risky investments.
Sales of Johnson & Johnson’s Stelara declined 6.6% in the third quarter as the first biosimilars launched in Europe and US sales were softer than expected.
Emerging Company Profile: The Maryland-based biotech is working on a functional cure for type 1 diabetes that is similar to Vertex’s VX-880 – but with some key differences.
The US major is investing over $360m in new money into the UK but the country has being losing its lustre as an appealing place to invest since Brexit and needs to offer more to multinationals.
New product launches come with great expectations, which are sometimes unrealistic. This can lead to disappointment. Lately, market access restrictions are exacerbating sales challenges.
Public Company Edition: Upstream grossed $255m and CAMP4 raised $75m in October’s first initial public offerings. In follow-on offerings, Crinetics and Scholar Rock brought in $500m and $300m, respectively. Also, Turnstone cut 60% of its workforce and Gritstone filed for bankruptcy.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
Recent moves in the industry include C-suite changes at Cybin, Biomarin and Nuvation Bio, plus Novita Pharmaceuticals gets a new chief executive officer.
