Ex­elix­is, Storm join up in col­lab­o­ra­tion and li­cense agree­ment; Teligent files for bank­rupt­cy

Ex­elix­is and RNA-fo­cused biotech Storm Ther­a­peu­tics en­tered in­to an ex­clu­sive col­lab­o­ra­tion and li­cense agree­ment, the com­pa­nies joint­ly an­nounced to­day.

Pe­ter Lamb

The deal is for dis­cov­er­ing and ad­vanc­ing on­col­o­gy can­di­dates — ini­tial­ly fo­cus­ing on ADAR1 and then ex­plor­ing an undis­closed tar­get.

Ex­elix­is will pay Storm $17 mil­lion up­front and pro­vide re­search fund­ing, in ex­change for li­cens­ing two of Storm’s dis­cov­ery pro­grams tar­get­ing RNA mod­i­fy­ing en­zymes, in­clud­ing ADAR1.

Ex­elix­is will al­so be sole­ly re­spon­si­ble for glob­al de­vel­op­ment, man­u­fac­tur­ing and com­mer­cial­iz­ing any re­sult­ing mol­e­cules. Storm will be el­i­gi­ble for mile­stone pay­ments as well as tiered roy­al­ties on sales of any com­mer­cial­ized com­pound done un­der the col­lab­o­ra­tion.

“We be­lieve this col­lab­o­ra­tion has the po­ten­tial to ex­pand our port­fo­lio of dif­fer­en­ti­at­ed small mol­e­cule ther­a­pies in the field of on­col­o­gy and de­liv­er a first-in-class ADAR1 in­hibitor,” said Ex­elix­is ex­ec­u­tive VP of sci­en­tif­ic strat­e­gy and CSO Pe­ter Lamb.

Teligent files for Chap­ter 11 bank­rupt­cy

New Jer­sey phar­ma com­pa­ny Teligent filed for bank­rupt­cy this morn­ing.

The phar­ma, which re­cent­ly re­called its lo­cal anes­thet­ic for be­ing too po­tent, filed for vol­un­tary pro­tec­tion un­der Chap­ter 11 of the US Bank­rupt­cy Code in the Bank­rupt­cy court in Delaware. There, they in­tend to sell the com­pa­ny.

To that end, Teligent start­ed mar­ket­ing be­fore fil­ing to de­ter­mine mar­ket in­ter­est. Dis­cus­sions re­gard­ing the sale are on­go­ing with “in­ter­est­ed par­ties,” ac­cord­ing to a re­port from RTT News.

The share price took a dive af­ter the mar­ket opened as $TL­GT went down more than 30%, com­ing in at just 17 cents a share.

The com­pa­ny ex­pects to sell the en­tire­ty of the busi­ness or its main as­sets by ear­ly next year. Teligent’s Cana­di­an af­fil­i­ate, Teligent Cana­da, will be pur­su­ing a sale process out­side of court.

ACB rais­es $10 mil­lion more for MYC and con­tact in­hi­bi­tion restora­tion re­search

Dun Yang

Chi­nese on­col­o­gy biotech An­ti­cancer Bio­science (ACB) an­nounced more than $10 mil­lion raised to­day in seed ex­ten­sion fund­ing from new Chi­nese in­vestors, led by Three Rivers Cap­i­tal.

The biotech, which was found­ed ear­li­er this year and has now raised more than $31 mil­lion, will use the mon­ey to move pre­clin­i­cal de­vel­op­ment for­ward on two pro­grams: MYC-syn­thet­ic lethal­i­ty and con­tact in­hi­bi­tion restora­tion.

“It un­der­lines our progress over the past months and will help ac­cel­er­ate our five drug dis­cov­ery pro­grams through op­ti­miza­tion to can­di­date se­lec­tion and IND en­abling stud­ies,” said ACB founder, pres­i­dent and CEO Dun Yang in a state­ment. “We aim to ini­ti­ate two clin­i­cal tri­als in 2022.”

Sarep­ta un­veils $500 mil­lion un­der­writ­ten pub­lic of­fer­ing

Sarep­ta re­vealed a new un­der­writ­ten pub­lic of­fer­ing of 6,172,840 shares of its com­mon stock to­day — at a price to the pub­lic of $81.00 per share.

In ad­di­tion, Sarep­ta is giv­ing un­der­writ­ers a 30-day op­tion to pur­chase up to an ad­di­tion­al 925,926 shares of that com­mon stock on the same terms and con­di­tions as ini­tial shares that were sold to the un­der­writ­ers.

The biotech an­tic­i­pates gross pro­ceeds from the of­fer­ing to be around half a bil­lion dol­lars, be­fore ex­pens­es and be­fore the un­der­writ­ers’ op­tion to pur­chase ad­di­tion­al shares. The of­fer­ing is ex­pect­ed to close some­where around Mon­day, ac­cord­ing to a com­pa­ny state­ment.

Sarep­ta is plan­ning to use the fund­ing to con­tin­ue and start up clin­i­cal tri­als, and then funds for com­mer­cial­iza­tion, man­u­fac­tur­ing and oth­er pur­pos­es.

IDC: Life Sci­ences Firms Must Em­brace Dig­i­tal Trans­for­ma­tion Now

Pre-pandemic, the life sciences industry had settled into a pattern. The average drug took 12 years and $2.9 billion to bring to market, and it was an acceptable mode of operations, according to Nimita Limaye, Research Vice President for Life Sciences R&D Strategy and Technology at IDC.

COVID-19 changed that, and served as a proof-of-concept for how technology can truly help life sciences companies succeed and grow, Limaye said. She recently spoke about industry trends at Egnyte’s Life Sciences Summit 2022. You should watch the entire session, free and on-demand, but here’s a brief recap of why she’s urging life sciences companies to embrace digital transformation.

Geoffrey Porges, new Schrödinger CFO

Long­time an­a­lyst Ge­of­frey Porges de­parts SVB to lead fi­nances at a drug dis­cov­ery shop

Geoffrey Porges has ended his two-decade run as a biotech analyst, as the former SVB Securities vice chair began as CFO of Schrödinger on Thursday.

The long-running analyst, who previously headed up vaccines marketing at Merck before the turn of the millennium, will lead the financial operations of the 700-employee company as Schrödinger broadens its focus from a drug discovery partner to also building out an in-house pipeline, with clinical trial No. 1 set to begin next quarter.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 148,400+ biopharma pros reading Endpoints daily — and it's free.

FDA ap­proves one of the prici­est new treat­ments of all time — blue­bird's gene ther­a­py for be­ta tha­lassemia

The FDA on Wednesday approved the first gene therapy for a chronic condition — bluebird bio’s new Zynteglo (beti-cel) as a potentially curative treatment for those with transfusion-dependent thalassemia.

The thumbs-up from the FDA follows a unanimous adcomm vote in June, with outside experts pointing to extraordinary efficacy, with 89% of subjects with TDT who received beti-cel having achieved transfusion independence.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 148,400+ biopharma pros reading Endpoints daily — and it's free.

James Sabry, Roche global head of pharma partnering

Roche, Genen­tech plunk down $60M up­front to part­ner with Chi­nese phar­ma on PRO­TAC-based prostate can­cer drug

Roche and Genentech are always on the hunt for deals, and on Thursday they found their newest partner.

The pair will team up with the Chinese pharma company Jemincare to push forward a new program for prostate cancer, the companies announced. Roche is ponying up $60 million upfront to get its hands on the candidate and promising up to $590 million in biobucks, plus royalties, down the line.

In return, Genentech will get a worldwide license to develop the program, known as JMKX002992, and bring it to market.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 148,400+ biopharma pros reading Endpoints daily — and it's free.

Andrew Hopkins, Exscientia CEO

Ex­sci­en­tia ter­mi­nates Bay­er pact half a year ear­ly, col­lect­ing small por­tion of €240M promised

Bayer and Exscientia are winding down their three-year collaboration, leaving the big German pharma to take the AI-designed compounds born out of the pact further.

London-based Exscientia revealed in its Q2 update that the partners have “mutually agreed to end” their collaboration, which kicked off in early 2020, after recently achieving a drug discovery milestone. In an SEC filing, Exscientia said it terminated the pact on May 30, about six months early.

Bayer's first DTC ad campaign for chronic kidney disease drug Kerendia spells out its benefits

Bay­er aims to sim­pli­fy the com­plex­i­ties of CKD with an ABC-themed ad cam­paign

Do you know the ABCs of CKD in T2D? Bayer’s first ad campaign for Kerendia tackles the complexity of chronic kidney disease with a play on the acronym (CKD) and its connection to type 2 diabetes (T2D).

Kerendia was approved last year as the first and only non-steroidal mineralocorticoid receptor antagonist to treat CKD in people with type 2 diabetes.

In the TV commercial launched this week, A is for awareness, B is for belief and C is for cardiovascular, explained in the ad as awareness of the connection between type 2 and kidney disease, belief that something can be done about it, and cardiovascular events that may be reduced with treatment.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 148,400+ biopharma pros reading Endpoints daily — and it's free.

James Mock, incoming CFO at Moderna

Mod­er­na taps new CFO from PerkinElmer af­ter for­mer one-day CFO oust­ed

When Moderna hired a new CFO last year,  it didn’t expect to see him gone after only one day. Today the biotech named his — likely much more vetted — replacement.

The mRNA company put out word early Wednesday that after the untimely departure of then brand-new CFO Jorge Gomez, it has now found a replacement in James Mock, the soon-to-be former CFO at diagnostics and analytics company PerkinElmer.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 148,400+ biopharma pros reading Endpoints daily — and it's free.

Etleva Kadilli, director of UNICEF’s supply division

GSK lands first-ever UNICEF con­tract for malar­ia vac­cine worth $170M

GSK has landed a new first from UNICEF the first-ever contract for malaria vaccines, worth up to $170 million for 18 million vaccine doses distributed over the next three years.

The vaccine, known as Mosquirix or RTS,S, won WHO’s backing last October after a controversial start, but UNICEF said these doses will potentially save thousands of lives every year.

“We hope this is just the beginning,” Etleva Kadilli, director of UNICEF’s supply division, said. “Continued innovation is needed to develop new and next-generation vaccines to increase available supply, and enable a healthier vaccine market. This is a giant step forward in our collective efforts to save children’s lives and reduce the burden of malaria as part of wider malaria prevention and control programmes.”

Joe Jonas (Photo by Anthony Behar/Sipa USA)(Sipa via AP Images)

So­lo Jonas broth­er car­ries Merz's new tune in Botox ri­val cam­paign

As the lyrics of his band’s 2019 pop-rock single suggest, Joe Jonas is only human — and that means even he gets frown lines. The 33-year-old singer-songwriter is Merz’s newest celebrity brand partner for its Botox rival Xeomin, as medical aesthetics brands target a younger audience.

Merz kicked off its “Beauty on Your Terms” campaign on Tuesday, featuring the Jonas brother in a video ad for its double-filtered anti-wrinkle injection Xeomin.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 148,400+ biopharma pros reading Endpoints daily — and it's free.