Protocols

Aldeyra bags PhIII-ready eye drug in Helio buyout; Liquid biopsy maker OncoCyte shares skyrocket on validation data

→ Eye drug developer Aldeyra Therapeutics $ALDX, which counts J&J $JNJ as a partner, has bought private biotech Helio Vision for $10 million upfront in common stock. The prize here is a Phase III-ready product candidate developed by Harvard professor Dean Eliott and Tomasz Stryjewski, his colleague at the Massachusetts Eye and Ear Infirmary. Now dubbed ADX-2191, the intravitreal methotrexate treats proliferative vitreoretinopathy, a serious sight-threatening inflammation that typically happens after retinal surgery. Helio is eligible for up to $15 million more in stock payment as company co-founders continue to consult with Aldeyra on clinical and regulatory work.

→ A set of positive results validating OncoCyte’s liquid biopsy test has bolstered its stock $OCX, up 221% at press time. DetermaVu scored on both sensitivity — capacity to detect true positives — and specificity, the ability to snuff out negatives, in a blinded trial that involved 250 blood samples from lung cancer patients. Investigators records a sensitivity of 90% (95% CI 82%-95%) and specificity of 75% (95% CI 68%-81%), which the company says is strong enough to justify plans to commercialize the diagnostic later this year.

Alector has set terms for its IPO, looking to sell 9.3 million shares at $18 to $20 a share. Renaissance Capital says that insiders have agreed to pick up about half that load. The biotech will trade as $ALEC.


The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 42,100+ biopharma pros who read Endpoints News by email every day.

Free Subscription

Head of Business Development
Wren Therapeutics Boston, MA
Life Sciences Venture Professional
Northpond Ventures Washington, DC
Senior Drug Discovery Oncologist
Schrödinger New York, NY

Visit Endpoints Careers ->