WuXi Biologics IPO reaps $509M windfall; Intellia strikes CRISPR pact with San Raffaele
→ WuXi Biologics raised HK$3.8 billion ($509 million) as it had set its sights on last month, offering 193 million shares at HK$20.60 ($2.64). The Wuxi, China-based company will list on the Hong Kong Exchange. BofA Merrill Lynch, Morgan Stanley and China Merchants Securities are the joint bookrunners on the deal which is expected to price June 6, 2017.
→ Cambridge, Mass-based Intellia has partnered with San Raffaele University in Italy. The two entered a three-year agreement to collaborate on research using Intellia’s CRISPR/Cas9 genome editing techniques to engineer new T Cell therapies to fight cancer. Intellia has been optimizing its gene editing system in preclinical trials in hopes of developing the accuracy to create a one-time cure for diseases. This is the first external partnership of the eXtellia division.
→ Eleven Biotherapeutics $EBIO signed a Cooperative Research and Development Agreement with the National Cancer Institute to develop Eleven’s Phase III-targeted protein therapeutic Vicinium in combination with AstraZeneca’s PDL-1 inhibitor Imfinzi for the treatment of non-muscle invasive bladder cancer. Eleven had been winding down when it struck a reverse merger deal and handed the shell to CEO Stephen Hurly, now advancing Viventia’s pipeline, including lead drug Vicinium.
→ Jazz Pharmaceuticals received priority review of its NDA for Vyxeos, a liposome injection to treat acute myeloid leukemia. Vyxeos received Breakthrough Therapy Designation from the FDA in May 2016.