Novo's investment arm injects $67.5M in Oxford Biomedica; Abacus Medicine delays IPO plans
→ The investment arm of Danish drugmaker Novo Nordisk $NVO is investing £53.5 million (about $67.5 million) in UK-based gene and cell therapy group Oxford Biomedica (LSE:OXB), in exchange for 10.1% of the company’s outstanding shares. Oxford, which has partnered with Novartis $NVS and Sanofi $SNY, as well as out-licensing of an asset to Axovant $AXGT, will use the proceeds to repay its debt and fund the development of its LentiVector platform, the company said on Wednesday.
→ Danish drug firm Abacus Medicine, which set an IPO price range as 14.50 euros ($16.15) to 16.00 euros per share last week, on Thursday said it is delaying its public debut, citing an “unfavorable market environment.” The company, which buys medicines from cheaper parts of the European Union to sell them in more expensive EU markets, did not specify when it planned to go public.
→ Audentes $BOLD, which is hoping to rival Sarepta Therapeutics $SRPT with its gene therapy for DMD, on Thursday unveiled new members of its senior executive team. The San Francisco-based company has hired former Sangamo executive Edward Conner as CMO and promoted Fulvio Mavilio to senior VP of translational science. Meanwhile, Audentes’ CMO Suyash Prasad and chief technology officer John Gray are leaving the company.