• You knew things were going to get weird when the ex-CEO of InVivo Therapeutics $NVIV claimed to have offered $77 million to buy the company — roughly half of its market cap — with plans to rename the company after himself. And the principals didn’t disappoint. Today, PixarBio CEO Frank Reynolds says the company has withdrawn its offer to buy InVivo “for reasons related to management credibility and competence, corporate governance and IP control.” It linked to a 4-page letter outlining a list of grievances against InVivo, which had earlier sued him.
• Merck KGaA has struck a collaboration and licensing agreement with Domain Therapeutics in Strasbourg, France, to explore the potential of adenosine inhibition in the development of novel immuno-oncology agents.
• The UK’s BiVictriX Therapeutics has raised 500,000 pounds to develop a new class of cancer drugs. The biotech is working on a platform focused on new and better antibody drug conjugates for blood cancers.
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