AstraZeneca has announced a definitive agreement to acquire Gracell Biotechnologies Inc. (Gracell, NASDAQ: GRCL) for an upfront cash payment of $1.0 billion, representing a 62% premium to Gracell’s closing market price on December 22, 2023. The deal includes an additional contingent value right of $0.30 per ordinary share, bringing the total potential transaction value to […]
Immutep Limited, an Australian biotech company specializing in LAG-3 immunotherapies for cancer and autoimmune diseases, has partnered with Charles River Laboratories to conduct a GLP toxicology study for its preclinical candidate, IMP761, targeting autoimmune diseases. Developed as a first-in-class LAG-3 agonist antibody, IMP761 aims to address the root cause of autoimmune diseases by mitigating the […]
American biopharma major Gilead Sciences and immunotherapy company EVOQ Therapeutics have entered into a partnership to develop and market immunotherapy products. Under the collaboration and licensing agreement, Gilead Sciences will acquire the exclusive license for EVOQ Therapeutics’ NanoDisc technology to pursue product candidates for rheumatoid arthritis and lupus treatment. As per the agreement, EVOQ Therapeutics […]
Amgen has agreed to acquire ChemoCentryx, a biopharma company engaged in developing medications for inflammatory and autoimmune diseases and cancer, in an all-cash deal worth around $3.7 billion. Based in California, ChemoCentryx is listed on NASDAQ. As per the terms of the deal, its shareholders will be offered $52 per share. Through the deal, Amgen […]
Step Pharma has raised €35 million in a Series B financing round for advancing STP938, its lead CTPS1 inhibitor into clinical development for the treatment of T-cell malignancies. The French biotech company is engaged in developing novel drugs for oncology and autoimmune diseases. The Series B round was co-led by new investors Sunstone Life Science […]
Pandion Therapeutics has bagged a $795 million worth license and collaboration deal with Japanese pharma company Astellas Pharma for the research, development, and commercialization of locally acting immunomodulators targeting autoimmune diseases of the pancreas. The collaboration will bring together the modular biologics and functional immunology expertise of Cambridge-based biotech company and Astellas Pharma’s advanced therapeutics […]
In a significant move within the pharmaceutical industry, Alexion Pharmaceuticals, a leading global biopharma company, has announced its acquisition of Syntimmune, a Boston-based clinical-stage biotech firm. The deal, valued at approximately $1.2 billion, marks a strategic expansion for Alexion as it looks to bolster its portfolio of treatments for rare diseases. Under the terms of […]
New York-based Feinstein Institute for Medical Research finds that ACE inhibitors can prevent cognitive decline in lupus patients, according to a study published in the Journal of Experimental Medicine. Researchers at the Feinstein Institute for Medical Research in New York have made a groundbreaking discovery that ACE inhibitors, commonly used in the treatment of hypertension, […]
Roche Group’s subsidiary Genentech has secured the US FDA approval for its multiple sclerosis drug, Ocrevus (ocrelizumab) for treating both relapsing and primary progressive variants of the chronic disease through intravenous infusion.
In a landmark decision, the US Food and Drug Administration (FDA) has granted approval to Genentech, a subsidiary of the Roche Group, for its multiple sclerosis (MS) drug, Ocrevus (ocrelizumab). This approval marks Ocrevus as the first and only therapy available for both relapsing and primary progressive forms of multiple sclerosis, addressing a significant unmet […]