
Avenue Therapeutics lands an FDA adcomm for troubled flagship drug; FDA approves eye injection treatment for fluid buildup
Intravenous tramadol-focused Avenue Therapeutics may not be out of the game just yet.
After receiving two CRLs for their drug, Avenue announced today that it has received a written interim response from the FDA’s Office of New Drugs that regulators will hold an adcomm to reach a decision on a formal dispute resolution request filed by Avenue back in July.
This occurred after the FDA sent Avenue the second CRL for their drug, an intravenous form of synthetic opioid tramadol.
The biotech said back in June that the FDA had denied its application as the “delayed and unpredictable onset” of pain reduction from tramadol didn’t suggest a benefit as a monotherapy. And at the time, there was not enough information to know whether it worked in combination with other therapies.
Avenue disagreed at the time, and said they would keep pushing for regulatory approval.
The FDA hasn’t yet announced when the adcomm will convene. The OND will respond to the FDRR within 30 days after meeting.
FDA approves Xipere for fluid buildup in retina
Bausch + Lomb and Clearside Biomedical announced this morning that the FDA approved Xipere, a triamcinolone acetonide injectable suspension, for suprachoroidal use to treat macular edema associated with uveitis, a form of eye inflammation.
Macular edema is the buildup of fluid in the macula, located in the retina at the back of the eye. This buildup can cause retinal swelling and distorted vision — and can lead to permanent vision loss if left untreated, according to Bausch + Lomb.
The method of choice is unique. The treatment uses a microinjector — developed by Clearside — to inject Xipere into the suprachoroidal space of the eye. That space, which is between the sclera and choroid, may turn out to be a more effective method to improve targeted drug delivery.
According to Bausch Health chairman and CEO Joseph Papa, the company expects to make Xipere available in Q1 of next year.
“With this approval, we begin a new era in delivering therapies to the back of the eye,” said Clearside’s president and CEO George Lasezkay. “Xipere is the first commercial product developed by Clearside, the first product approved for injection into the suprachoroidal space and the first therapy approved for macular edema associated with uveitis.”
Cedilla Therapeutics increases Series B size with fresh $25 million
Third-Rock backed Cedilla Therapeutics expanded its Series B from last year with an additional $25 million, bringing the total amount raised to $82.6 million.
The Series B expansion announced today includes new investors RA Capital Management, Janus Henderson Investors, Woodline Partners and Logos Capital, alongside Third Rock.
The funds will support Cedilla’s continuing development of its two lead programs: a TEAD inhibitor for solid tumor treatment such as mesothelioma and certain squamous cell carcinomas, along with a highly selective CDK2/Cyclin E inhibitor for multiple tumor types, including CDK4/6-resistant breast cancer.
The company plans to initiate IND-enabling studies for its TEAD program by next June and for the CDK2 program by the end of 2022.
“With this financing, we plan to accelerate and expand our development efforts by progressing our most advanced programs toward the clinic while continuing to invest in ongoing discovery efforts against additional high value cancer targets,” said Cedilla president and CEO Sandra Glucksmann.
Jake Simson, a partner with RA Capital Management, will join Cedilla’s Board of Directors as part of the financing.
Juventas Cell Therapy raises $63 million in Series C
Chinese biotech Juventas Cell Therapy completed a Series C financing round, bringing in close to $63 million.
According to a statement, Juventas will use the funds to pursue an NDA in China and launch implementation of a commercialization and international research and development plan for partner CASI’s CAR-T treatment CNCT19.
CASI shares global co-commercial and profit-sharing rights with Juventas, and indirectly owns just over 12% of the company’s shares following completion of the Series C round.
Juventas’ financing was led by CICC Capital.
“The collaboration between CASI and Juventas will speed up the adoption of CAR-T therapy in China,” CASI CEO and chairman Wei-Wu He said in a statement.