Adverum soars on early gene therapy data; BerGenBio raises €45.4M on the heels of Covid-19 move
→ Another cut of positive interim data have lifted expectations that Adverum’s gene therapy that could give the anti-VEGF developers a run for their money in wet AMD. In a Phase I trial, investigators reported that the first two cohorts continue to respond to treatment, with the majority still free of rescue injections, while the third cohort experienced fewer side effects, presumably because they were given topical steroids rather than oral steroids.
→ Norway’s BerGenBio raised €45.4 million in a private placement. The biotech has been working on AXL kinase inhibitors and the UK government recently opted to add bemcentinib in the ACCORD study for Covid-19 patients.
→ Cancer Research UK has jumped in to fund clinical development of Crescendo Biologics’ bispecific CB213, which targets PD-1 and LAG-3 simultaneously. The research group will take charge of Phase I while the biotech retains a right to license the results.
→ Seattle-based Kineta has closed a $5 million round to back its work on immunotherapies. “Our team is thrilled to quickly close this round with significant investments from the Schlaepfer Family Foundation as well as current investors,” said CEO Shawn Iadonato in a statement.