Tizona completes spinout of cancer program as part of Gilead buyout; Dyne files for $100M IPO
Tizona has completed the spinout of a new company that will focus on developing its now-former lead program involving an anti-CD39 antibody.
The new company, Trishula Therapeutics, is designed to further progress and focus on the existing TTX-030 collaboration that Tizona had signed with AbbVie back in early 2019. Currently, the candidate is being studied in Phase I/Ib trials, both by itself and in combination with an anti-PD-1 agent and standard chemotherapy, in adults with advanced cancers.
Tizona CEO Scott Clarke will join Trishula’s board and serve as interim CEO for the nascent biotech.
Wednesday’s spinout was prompted by a massive $1.5-plus billion buyout of Tizona by Gilead, announced earlier this month. That agreement gave Gilead 49.9% ownership of the company for $300 million and reserved an additional $1.25 billion to purchase the remaining stake if Tizona’s human leukocyte antigen candidate TTX-080 pans out as hoped. — Max Gelman
Dyne files for $100 million IPO two weeks after $115 million round
Just two weeks after unveiling a $115 million round of financing, Dyne Therapeutics is taking that final leap toward becoming a public company.
Dyne submitted IPO filings with the SEC late Tuesday night, offering a preliminary estimate of a $100 million raise. The move is the latest in a series of quick jumps from Dyne, which less than 18 months ago came out of stealth with a $50 million launch round backed by Atlas.
There have already been four dozen biotech IPOs so far in 2020, a number that has surpassed the total from all of last year.
Dyne focuses on genetic muscle disorders like Duchenne and myotonic dystrophy, which are being targeted with the company’s lead programs. Dyne focuses on oligonucleotide research, and by linking an antibody to an oligonucleotide, the biotech hopes its therapies can target muscle cells and degrade only disease-causing RNA to avoid systemic toxicity. — Max Gelman
ReViral grabs $44M to power through PhII trials
London-based ReViral has reloaded with $44 million in a Series C toward its single-minded pursuit of respiratory syncytial virus (RSV).
The proceeds will fund two Phase II trials for sisunatovir — its small molecule fusion protein inhibitor — in pediatric patients and adult stem-cell transplant patients, respectively. Then there’s the N-protein replication inhibitor, which will be steered into the clinic, according to CEO Alex Sapir.
CR-CP Life Science Fund, a joint venture between China’s China Resources Group and Thailand’s Charoen Pokphand Group, led the round. Other investors include Series B co-leaders New Leaf Venture Partners and Novo Holdings, plus Andera Partners, Brace Pharma Capital, Green Sands Equity, , OrbiMed Advisors and Perceptive Advisors.
ReViral is striving to be the leader in a challenging field that’s blown up projects at Regeneron and J&J. But RSV, which remains a serious threat to high-risk groups with compromised immune systems such as infants and the elderly, continue to draw investment in both therapeutic and vaccine spaces. — Amber Tong