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).

Alex Sapir

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

Un­pack­ing the Aduhelm de­ci­sion, Ver­tex's half full glass, a $525M J&J breakup, and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

By now you have surely read about the FDA’s controversial approval of Biogen’s Alzheimer’s drug and all its reverberations. But I’d still recommend checking out the meaty recap below to make sure you didn’t miss all the angles that the Endpoints team has covered. If you’d rather look ahead, look no further than our three-day virtual panels next week at BIO, where we will discuss what the new normal means for every part of the industry.

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What does a clear ma­jor­i­ty of the bio­phar­ma in­dus­try think of the FDA ap­proval of ad­u­canum­ab? 'Hor­ri­fy­ing' 'Dan­ger­ous' 'Con­fus­ing' 'Dis­as­ter'

Over the years, we’ve become used to seeing a consensus emerge early in our industry polls at Endpoints News. And when we took the pulse of drug hunters on the heels of a controversial FDA approval for aducanumab this week, it became immediately apparent that the vast majority of our readers — heavily concentrated among biopharma staffers and execs — were incensed by what they had just witnessed.

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Aaron Kesselheim (Scott Eisen/AP Images for AIDS Healthcare Foundation)

Har­vard’s Aaron Kessel­heim re­signs from ex­pert pan­el in wake of ad­u­canum­ab OK, blast­ing FDA for ‘worst drug ap­proval de­ci­sion in re­cent U.S. his­to­ry'

A third member of the FDA’s Peripheral and Central Nervous System Drugs Advisory Committee has resigned in the wake of Biogen’s controversial Aduhelm approval, slamming the agency as he left and further deepening the controversy surrounding the decision.

Harvard University professor Aaron Kesselheim quit in protest Thursday afternoon, calling the Aduhelm OK “probably the worst drug approval decision in recent U.S. history.” Kesselheim follows both Joel Perlmutter, a neurologist from Washington University in St. Louis, and David Knopman, a neurologist from the Mayo Clinic, out the door.

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David Knopman (Mayo Clinic via YouTube)

A sec­ond ad­comm mem­ber aban­dons his post in af­ter­math of con­tro­ver­sial ad­u­canum­ab de­ci­sion

As the fallout from the FDA’s approval of Alzheimer’s med aducanumab grows, a second member of the adcomm overseeing that drug’s review has walked away. But even with two experts now having resigned from that committee in protest, is there enough broad-level outrage to prevent another aducanumab from getting approved?

The FDA on Wednesday lost another member of its Peripheral and Central Nervous System Drugs Advisory Committee as Mayo Clinic neurologist David Knopman hit the exit over the agency’s decision to approve Biogen’s Alzheimer’s drug Aduhelm despite the committee’s near-unanimous vote against it.

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FDA au­tho­rizes about 10M J&J vac­cine dos­es, trash­es 60M more from trou­bled Emer­gent plant

The FDA on Friday released about 10 million doses of J&J’s vaccine for use, and disposed of another 60 million doses that were manufactured at the now-shuttered Emergent BioSolutions facility in Baltimore where cross-contamination occurred.

The agency said it’s not yet ready to allow the Emergent plant to be included in the J&J EUA, but that may occur soon. FDA came to the decision to authorize some of the doses after reviewing facility records and quality testing results.

Au­to­lus claims a CAR-T win at EHA; Ima­go touts two PhII tri­al wins for rare dis­ease drug

Presentations at the European Hematology Association began Friday, with Autolus Therapeutics revealing data they say continue to show the benefit of their CAR-T program.

The Autolus program, known as 0be-cel, achieved a 100% complete remission rate in a cohort of indolent B Cell Non-Hodgkin lymphoma patients, with all nine treated patients hitting the mark as of the May 17 cutoff. Another three patients are still awaiting treatment, while a fourth enrolled individual died due to a Covid-19 infection.

Janet Woodcock, acting FDA commissioner, at Thursday's Senate Appropriations hearing (Bill Clark/CQ Roll Call via AP Images)

Sen­a­tors lam­bast new Alzheimer’s drug’s price but give Janet Wood­cock a free pass on the ap­proval de­ci­sion

Senate Finance Democrats took aim at Biogen’s pricey new Alzheimer’s drug on Thursday, but members on both sides of the aisle at a separate appropriations hearing didn’t question acting FDA commissioner Janet Woodcock on the approval.

“I was appalled that Biogen priced their Alzheimer’s drug approved by the FDA at $56,000 per year — I’m not going to debate whether this is effective or not, but it’s double the household median income for Michiganders over the age of 65,” Sen. Debbie Stabenow (D-MI) said at the finance hearing.

Reshma Kewalramani, Vertex CEO (BIO via YouTube)

UP­DAT­ED: Ver­tex strikes out on its lat­est big shot at a rare ge­net­ic dis­ease. But they're go­ing to keep on swing­ing

It’s been several months since Vertex culled one of its small molecules for alpha-1 antitrypsin deficiency (AATD), taking a big hit after evidence of liver damage surfaced in a key Phase II trial. Now we learned that the company has whiffed on its second shot, and there’s nothing left in the clinic to treat the rare genetic disease — but that won’t stop it from trying.

Despite avoiding the safety issues that plagued the last candidate, Vertex $VRTX is taking the axe to VX-864 after Phase II results revealed the magnitude of the drug’s response is “unlikely to translate into substantial clinical benefit.” As a result of the news, the company’s stock fell 12.5% after hours.

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Verona signs Chi­na deal for PhI­II COPD drug; Te­va con­tin­ues le­gal bat­tle with Eli Lil­ly, al­leg­ing new patent in­fringe­ments on mi­graine drug

After a February Phase II win put Verona’s bad memories of a 2019 flop behind them, the company is now engaging in partnerships to ship out the experimental drug should it continue to produce positive results in Phase III.

Verona is teaming up with Nuance Pharma on a $219 million collaboration to commercialize ensifentrine in China, Macau Hong Kong and Taiwan, the companies announced Thursday. The deal includes $25 million in upfront cash and a $15 million equity stake in Nuance Biotech, the parent company of Nuance Pharma. Verona is eligible for up to $179 million in milestones.