Plus, news about Arvinas, Alnylam, Sihuan Pharmaceutical, Neurizon Therapeutics, Nordicus Partners, and Arcutis:
🫀
NanoPhoria raises $98M Series A:
The cash will fund early clinical development of the Milan-based company’s heart failure candidate, known as NP-MP1, as well as regulatory work and its plans to scale up manufacturing. NP-MP1, a peptide that targets cardiac calcium channels to improve the heart’s function, has not yet started human trials. The €83.5 million funding round, which NanoPhoria
said
is the largest Series A round in Italian biotech history, came from investors including XGEN Venture, Sofinnova Partners, CDP Venture Capital and Panakes Partners.
— Elizabeth Cairns
🧬
AstraZeneca inks deal with Algen for up to $555M:
The pharma company will
get
the exclusive rights for candidates against a select number of immunology targets identified using the AlgenBrain platform. AlgenBrain uses AI and next-generation CRISPR gene modulation to discover new genetic targets. The companies did not disclose the split between upfront and milestone payments.
— Ayisha Sharma
🧪 Arvinas’ Phase 1 data for Parkinson’s drug:
Arvinas’ ARV-102 is a PROTAC designed to degrade LRRK2, a new and increasingly popular target in neurodegeneration. In the healthy volunteer study, Arvinas
said
repeated doses of ARV-102 led to at least a 50% reduction of LRRK2 in the cerebrospinal fluid. In Parkinson’s patients, single doses of ARV-102 also responded in a dose-dependent manner. Arvinas’ stock
$ARVN
was up about 10% in premarket trading on Monday.
— Max Gelman
💰 Alnylam Pharmaceuticals discloses $500M line of credit:
The company
revealed
the credit line in a securities filing last week. It also upsized an offering last month of convertible senior notes to $575 million from $500 million. Alnylam is focused on
marketing Amvuttra
now that it’s approved for transthyretin amyloid cardiomyopathy.
— Jaimy Lee
🇨🇳
Sihuan Pharmaceutical spinout to go public:
The spinout, called Xuanzhu Biopharm, is
looking
to go public on the Hong Kong Stock Exchange, following
more than 40
other Chinese biotechs that have outlined plans for a listing so far this year. The biotech, which is focusing on digestion, cancer and MASH, seeks to list at $11.60 Hong Kong dollars per share. (That’s about $1.49). Sihuan will own about 49% of Xuanzhu’s issued shares after the proposed offering closes.
— Kyle LaHucik
🔬 Neurizon Therapeutics says FDA lifted hold on Parkinson’s drug:
The biotech now plans to advance NUZ-001 into a Phase 2/3 that’s part of the HEALEY ALS Platform Trial by the end of the year. The regulator
had put
the company’s IND on hold in January.
— Jaimy Lee
💼
Nordicus Partners forms new company:
The Nordic biopharma accelerator
said
the new company, which is called NoviThera, will focus on developing a monoclonal antibody to treat psoriasis. Alteral Therapeutics invented the antibody.
— Jaimy Lee
🏛 FDA approves Zoryve for young children:
Arcutis Biotherapeutics on Monday
announced
the approval of Zoryve cream for children between the ages of 2 and 5 years old with mild to moderate atopic dermatitis. It’s the sixth approval for the treatment.
— Jaimy Lee