Allergan picks up option for Editas' rare eye disease drug; CureGenetics bags $17M
→ Allergan has stepped in to pick up its development option on Editas‘ experimental EDIT-101 for Leber congenital amaurosis type 10. And the smaller biotech is grabbing co-promotion rights as they look to a future expansion into commercial operations. Editas gets $15 million upfront with another $25 million due on the IND.
→ China gene-editing biotech CureGenetics has rounded up a $17 million round to back its development. Qiming Venture Partners led the round with additional investors which included CTS Capital and Ascendin Investment. The company plans to use the money on an IND and pipeline development.
→ Glenmark Pharmaceuticals, a drugmaker based in India, has inked a licensing deal with China-based Harbour Biomed for Glenmark’s oncology drug GBR 1302. The med targets HER2 and CD3 for the treatment of HER2-positive breast cancers and has been through Phase I trials. Now, Glenmark is handing a license to Harbour to develop and commercialize the drug in the Greater China territory. The deal included an undisclosed upfront payment, and — including milestones — could total $120 million plus royalties.
With contribution by John Carroll.