Sanofi inks deal with I-Mab; Wave dis­clos­es $175M of­fer­ing on heels of DMD da­ta

Plus, news about BioAge, Ful­crum Ther­a­peu­tics and Ar­cutis Bio­ther­a­peu­tics:

Sanofi snags Greater Chi­na rights to CD73 an­ti­body: The French phar­ma will pay TJ Bio­phar­ma €32 mil­lion (or about $35 mil­lion) up­front for the rights to the an­ti­body in Chi­na, Tai­wan, Hong Kong and Macau, with a to­tal deal val­ue of €213 mil­lion (or about $238 mil­lion). TJ Bio­phar­ma spun out of I-Mab Bio­phar­ma, which di­vest­ed from its Chi­na op­er­a­tions ear­li­er this year to be­come a US-based com­pa­ny. — Max Bay­er

Wave Life Sci­ences to raise $175M: The biotech’s pub­lic of­fer­ing fol­lows en­cour­ag­ing Phase 2 bio­mark­er da­ta of its Duchenne mus­cu­lar dy­s­tro­phy treat­ment. Wave’s shares $WVE closed 53% high­er on Tues­day, at $8.19. — Max Bay­er

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BioAge up­sizes IPO plans: The an­ti-ag­ing and obe­si­ty biotech, which is in Phase 2, boost­ed its IPO ex­pec­ta­tions, say­ing it now ex­pects $170 mil­lion and not $120 mil­lion in net pro­ceeds. The Cal­i­for­nia start­up, which will trade as $BIOA, al­so ex­pects $9.9 mil­lion from a con­cur­rent pri­vate place­ment from Sofinno­va Ven­ture Part­ners. It has yet to set­tle on an ini­tial pric­ing for its Nas­daq de­but but ex­pects to list be­tween $17 and $19 per share. — Kyle LaHu­cik

Ful­crum Ther­a­peu­tics lays off 29 em­ploy­ees: The cuts come two weeks af­ter the com­pa­ny’s oral mus­cu­lar dy­s­tro­phy treat­ment failed a Phase 3 tri­al. Ful­crum said it will now shift its fo­cus to a treat­ment for sick­le cell dis­ease that’s in Phase 1 study and oth­er ear­li­er-stage work. — Max Bay­er

Ar­cutis Bio­ther­a­peu­tics presents ad­di­tion­al Phase 3 da­ta across skin types: The com­pa­ny test­ed its Zo­ryve cream in pa­tients with atopic der­mati­tis. New sub­group analy­ses showed that Zo­ryve im­proved signs and symp­toms of AD re­gard­less of pa­tients’ race, eth­nic­i­ty and Fitz­patrick skin types across two Phase 3 stud­ies. — Max Gel­man