Plus, news about NewAmsterdam, Rocket, ImmunityBio, CG Oncology, Spruce Biosciences, Pharming, Veradermics, Noema Pharma, Ambrosia Biosciences, EsoBiotec, Cellectar Biosciences and Hepion:
BenevolentAI’s overhaul:
The struggling AI biotech
said
it plans to lay off staff, consider delisting from the Euronext Amsterdam stock exchange, partner its early-stage assets and undergo other additional organizational shifts as
co-founder Ken Mulvany returns
. Its Amsterdam-listed stock was down 10% on Wednesday.
— Kyle LaHucik
Cimeio Therapeutics, Kyowa Kirin make a deal:
The Japanese drugmaker
is paying
up to $300 million as part of an agreement to develop new cell therapies. Additional financial terms were not disclosed.
— Jaimy Lee
At least three public offerings have been disclosed over the past day, including
NewAmsterdam
’s
bid
to raise $300 million;
Rocket
’s upsized $165 million
offering
;
ImmunityBio
’s $100 million
financing
; and
CG Oncology
’s
offering
, which has yet to be priced.
— Jaimy Lee
Spruce’s Phase 2b fail for endocrine disorder drug:
The South San Francisco biotech said tildacerfont administered once daily did not
meet
the primary endpoint of glucocorticoid reduction in a mid-stage study of people with adult congenital adrenal hyperplasia. But the trial’s principal investigator said the data suggest twice daily dosing may be more effective. Its stock
$SPRB
was down about 25% on Wednesday morning.
— Ayisha Sharma
Pharming’s rare disease med passes Phase 3 test in kids:
The Dutch drugmaker’s Joenja for activated phosphoinositide 3-kinase delta syndrome (APDS)
met
the primary endpoints in a late-stage trial of patients aged four to 11 years old. Joenja
won
FDA approval for APDS patients aged 12 and older in March 2023. Pharming plans to submit global regulatory filings in children starting in 2025.
— Ayisha Sharma
Veradermics’ $75M Series B:
The Connecticut-based dermatology and aesthetics biotech raised the
financing
as it begins a Phase 2/3 study in hair loss.
— Kyle LaHucik
Noema adds $35M from EQT Life Sciences:
A second close of a Series B
first announced in March of last year
brings the total for the round to CHF 130 million, which is about $147 million. The cash will fund Noema’s four ongoing Phase 2 trials: mGluR5 negative allosteric modulator basimglurant in trigeminal neuralgia and seizures in tuberous sclerosis complex; gemlapodect, a PDE10a inhibitor, in Tourette syndrome; and NOE-115, a monoamine modulator, in menopause symptoms.
— Elizabeth Cairns
Merck backs Ambrosia:
The New Jersey pharma giant invested in the biotech’s Series A, which now
totals
$25 million.
Ambrosia
previously announced plans to take over a former Pfizer site in Boulder as it builds out an oral small-molecule pipeline for obesity and metabolic disorders.
— Kyle LaHucik
EsoBiotec scores €22M:
The Belgian cell therapy specialist
raised
the equivalent of $23 million from backers that include Thuja Capital, UCB Ventures and Invivo Partners. The company’s immune-shielded lentiviral vector, which is called ESO-T01, is designed to reprogram T lymphocytes into BCMA CAR-T cells
in vivo
. It will enter an investigator-initiated trial in multiple myeloma in China, its first in humans, and data are expected in the second half of 2025, which could allow expansion to indications including autoimmune diseases.
— Elizabeth Cairns
Cellectar lays off 60% of its workers:
The biotech is
prioritizing
its pipeline and letting go of staff. Cellectar had 20 employees at the end of 2023. Its stock price
$CLRB
sank 62% in pre-market trading on Wednesday.
— Kyle LaHucik
Hepion Pharmaceuticals
ends
merger plans with Pharma Two B.
— Jaimy Lee
