AI-focused Notable Labs score $40M in funding; Seattle Genetics/Astellas submit marketing application for enfortumab vedotin
→ The AI experts at Notable Labs have garnered another $40 million to scale their automated laboratory and analytics platform. Designed to match patients to clinical trials by predicting quickly who are most likely to respond to a cancer drug, the startup has pitched itself as an advocate for patients and facilitator to pharma companies. With the Series B cash, Notable Labs plans to expand their platform both in terms of geography — building labs outside of North America — and cancer types (it’s currently focused on hematological cancers).
As Notable begins identifying patterns in data, they will also begin exploring drug development efforts, such as testing drugs for new indications. Eventually, CEO Matthew De Silva tells FierceBiotech, they could move from repurposing to discovering its own drugs — though that will be way down the line.
B-Capital Group and LifeForce Capital co-led the round, with participation from Industry Ventures.
→ Months after Seattle Genetics $SGEN and their partners at Astellas won breakthrough therapy status for their antibody drug conjugate, enfortumab vedotin — the companies on Tuesday said they had submitted an accelerated approval application for the therapy in metastatic urothelial cancer patients who have been treated with a checkpoint inhibitor and platinum-containing chemotherapy.
→ In 2014, Celgene $CELG inked a partnership with Vancouver, British Columbia-based Zymeworks $ZYME to research, develop, and commercialize up to eight bispecific antibodies. Four years later, the partners hiked that number to ten potential products. For each product, Zymeworks is eligible to receive up to $164 million — including licensing fees and milestones payments — in addition to royalties on drug sales. On Tuesday, Celgene chose its lead therapeutic candidate in oncology, triggering a $7.5 million payment for Zymeworks.