Trevor Williams
Deals and financing
The Japanese company Eisai Pharma (OTCPK:ESALF)(OTCPK:ESAIY) has entered into a collaboration with SEED, a Pennsylvania-based biotech company, to develop molecular adhesives for the targeted degradation of disease-causing proteins (see article). SEED is authorized to up to $1.5 billion in milestones plus royalties. SEED will lead preclinical discovery for certain targets, some of which are neurological in nature. Eisai will have exclusive rights to develop and commercialize compounds resulting from this collaboration. Eisai is also leading a Series A-3 financing round for SEED with an initial close of $24 million from investors. A second close of an undisclosed amount will follow later this year.
Shanghai OcuMension acquired the Chinese rights to a portfolio of dry eye treatments from Alcon (ALC) in exchange for a 16.7% stake in OcuMension shares (see article). The shares, valued at around 110 million US dollars, make Alcon a of OcuMension’s largest shareholders. Each company will also grant the other company a right of first negotiation on future products. OcuMension is an ophthalmic pharmaceutical company with a portfolio of 25 pharmaceutical products. Alcon is a global company focused on providing eye care products.
TYK Medicines is conducting an IPO in Hong Kong to raise $74 million to support its portfolio of small molecule cancer drugs (see report). TYK is developing 11 drug candidates (including its core product TY-9591), six products in clinical stage and four products in preclinical or early clinical development. A year ago, TY-9591 began a pivotal Phase II trial as a first-line treatment for EGFR-mutated non-small cell lung cancer with brain metastases. TY-9591 is designed to improve the efficacy of AstraZeneca’s (AZN) Tagrisso (osimertinib) and will be compared to osimertinib in the trial. TYK Medicines is headquartered in Huzhou, Zhejiang Province, China.
Proto Axiom, an Australian biomedical incubator, announced the first close of a $20 million Series B funding round, which is expected to ultimately raise $30 million (see article). Proto Axiom describes itself as a holistic company that provides technical oversight, administrative support, future funding and hands-on research assistance. It aims to develop Australian biopharma technology from its Sydney base. With the first Series B close and $15 million Series A, Proto Axiom has a valuation of $90 million.
Merck KGaA’s (OTCPK:MKGAF)(MKGAY) Singapore Life Science business has partnered with NSG BioLabs, a Singapore-based biotechnology co-working lab and office space provider, to provide resources to biotech startups and enhance the R&D capabilities of the site’s tenants (see story). The collaboration will provide startups with advice, mentoring and access to expertise. Since 2019, NSG BioLabs has been hosting innovators developing products for precision medicine, nucleic acids, AI-enabled drug discovery and synthetic biology. NSG BioLabs claims to have helped over 40 companies, including several multibillion-dollar multinationals, raising nearly $400 million.
Tests and approvals
Shanghai Visen Pharmaceuticals reported positive data from a Phase III trial of its hypoparathyroidism therapy in China (see report). In the 26-week trial, 77.6% of patients treated with the parathyroid drug palopegteriparatide met the primary endpoint, while no patients on placebo did. Palopegteriparatide (TransCon PTH) is an experimental prodrug of PTH (1-34) administered once daily. Its sustained release of active PTH is designed to ensure PTH levels in the physiological range 24 hours a day. Visen, a biopharmaceutical company specializing in endocrine diseases, acquired the Chinese rights to the drug from Copenhagen-based Ascendis Pharma (ASND).
Suzhou Ascentage Pharma (OTCPK:ASPHF) has received approval to start Phase III trials in China of lisaftoclax (APG-2575) as a first-line treatment for newly diagnosed patients with higher-risk myelodysplastic syndrome (MDS) (see article). Lisaftoclax is administered in combination with azacitidine (AZA). Lisaftoclax is a novel, orally administered selective Bcl-2 inhibitor designed to block the antiapoptotic protein Bcl-2, thereby restoring the normal apoptosis process in cancer cells. The approval is the fourth Phase III trial for the candidate in China.
Biosyngen, a cell therapy company based in Singapore and Guangzhou, has received approval to begin a pivotal Phase II trial of its Epstein-Barr virus-specific CAR-T cell therapy in the U.S. (see story). The trial will enroll patients with relapsed/metastatic EBV-positive nasopharyngeal carcinoma. Biosyngen said BRG01 will be the first cell therapy to begin Phase II trials for this indication in the U.S. and China. BRG01 is also unusual because it is a cell therapy targeting a solid tumor. Patients were enrolled in a Phase I trial in the U.S. and China earlier this year and received a single infusion of BRG01.
Hangzhou Vimgreen Pharma has enrolled 150 Parkinson’s patients in a Phase II trial in China of VG081821AC, a novel adenosine A2A receptor (A2AR) antagonist (see article). The candidate also acts as an A2AR inverse agonist. 150 participants with early to mid-stage Parkinson’s were randomly assigned to one of three cohorts: high dose, low dose and placebo in a 1:1:1 ratio. Vimgreen is developing drugs based on modulating adenosine signaling. Most Parkinson’s therapies use dopamine to treat disease symptoms, but Vimgreen’s candidate aims to prevent, reduce or delay motor complications in the early stages of Parkinson’s disease.
Announcement: none.
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