Stealth Bio posts plans for $86M IPO; Sanofi out-licenses drug for neuroendocrine-related disease
→ Newton, MA-based Stealth BioTherapeutics joined the queue of biotechs looking to jump into Nasdaq in early 2019. The company is focused on mitochondrial dysfunction, listing plans to raise $86 million. Morningside Venture controls 95.3% of the equity.
→ Little Acer Therapeutics $ACER has in-licensed a non-peptide tachykinin NK3 receptor drug called osanetant from Sanofi with plans to develop it for neuroendocrine-related disorders. Acer CEO Chris Schelling touted the drug’s “robust non-clinical, pharmacokinetic and human safety data.”
→ Ling Zhang is headed back to JPMorgan Chase to head up their healthcare and tech investing group in China, according to a report in Reuters. Zhang left JPMorgan three years ago to join BGI Genomics as COO.
→ Boston-based Life Biosciences LLC has inked a deal to invest up to $31.4 million into Prana Biotechnology $PRAN.
→ Deciphera $DCPH says it’s expanding a Phase I study of DCC-3014, an investigational small molecule switch control inhibitor of CSF1R, after registering some positive results as well as dose-limiting toxicity. Researchers plan to add patients with Tenosynovial Giant Cell Tumors. The stock edged down in early trading Wednesday.