Plus, news about Essential Pharma, ADC Therapeutics, Caliway Biopharmaceuticals, AnaptysBio, Andera Partners and NewAmsterdam Pharma:
Elevation’s ADC deal:
The biotech will
pay
up to $368 million in upfront payments and biobucks to Lonza’s Synaffix, which will get access to its clinical-stage ADC platform and other technologies.
— Kyle LaHucik
Bavarian Nordic closes San Diego site:
The Danish drugmaker is closing a site in California and laying off 48 employees, according to a WARN
notice
. The site came from Bavarian’s acquisition of part of Emergent BioSolutions last year. The company will “continue to have a significant footprint in the US,” a spokesperson told
Endpoints News
.
— Kyle LaHucik
Essential Pharma’s €900M recapitalization and €300 million financing:
The financing will allow Essential to “build on its diversified portfolio and late-stage pipeline across established and rare disease medicines,”
according
to the company. AlpInvest, a subsidiary of Carlyle Global Investment Solutions, is leading the recapitalization, while Sixth Street is providing the financing facility.
— Katherine Lewin
ADC Therapeutics’ early-stage data for Zynlonta-Columvi combo:
In 18 patients with diffuse large B cell lymphoma, the best overall response rate
was
94%, and the complete response rate was 72%. Of the 13 patients who achieved a complete response, 12 remain in complete response as of the cutoff of Nov. 20. The company reported low-grade cases of CRS and ICANS, but no high-grade cases, and 24% of patients experienced grade 3 or 4 neutropenia.
— Lei Lei Wu
Caliway’s lipolysis injectable to enter Phase 3 in 2025:
In
a Phase 2b study
, Caliway’s drug met all the primary and secondary endpoints, with 76.7% of patients achieving at least a 1-grade improvement on the Abdominal Fat Rating Scale at 12 weeks. The most common side effect was injection site reactions.
— Katherine Lewin
AnaptysBio’s drug fails in atopic dermatitis:
The San Diego biotech said ANB032 failed the primary and secondary endpoints in a Phase 2b study. The
Sanofi-backed biotech
is now
ending development
of the BTLA agonist. The stock
$ANAB
closed 32% lower on Wednesday.
— Kyle LaHucik
Andera Partners sells 40% stake:
The European investment firm, which has a life sciences unit, sold a
40%
minority equity interest to global asset manager New York Life Investments. Andera’s biotech portfolio includes Inventiva and Nouscom.
— Kyle LaHucik
NewAmsterdam
upsized
its offering. It raised $416.5 million, up from the $300 million it initially planned to bring in.
— Jaimy Lee