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MSD agrees to acquire EyeBio for up to $3bn

MSD has announced a definitive agreement to acquire all outstanding shares of Eyebiotech (EyeBio) through a subsidiary for up to $3bn. The deal value includes an upfront cash payment of $1.3bn and $1.7bn in milestone payments. Specialising in ophthalmology, EyeBio has a pipeline of clinical and preclinical assets focusing on preventing and treating vision loss from retinal vascular leakage. Restoret (EYE103), its lead candidate, is a tri-specific antibody targeting the Wnt signalling pathway.

Sanofi completes the $1.7bn acquisition of Inhibrx

After declaring its intention to purchase Inhibrx for $1.7bn in January, Sanofi has announced that it has completed its acquisition of the clinical-stage biotech, gaining access to Inhibrx’s extensive pipeline of new biologics that target oncology and rare diseases. Under the terms of the agreement, former shareholders will receive $30 per share of common stock of Inhibrx.

ITM gains $204.6m investment for radiopharmaceutical pipeline

ITM Isotope Technologies Munich (ITM) has secured an investment of €188m ($204.6m) aimed at bolstering its radiopharmaceutical pipeline. Global investment company Temasek spearheaded the funding round with contributions from entities managed by BlackRock, the Qatar Investment Authority (QIA), ATHOS and Carbyne. The funding will be channelled towards advancing and broadening ITM’s radiopharmaceutical pipeline.

Source: Pharmaceutical Technology

CinDome Pharma secures $40m to advance gastroparesis treatment

CinDome Pharma has secured $40m in a Series B financing extension round aimed at progressing the development of deudomperidone (CIN-102) as a potential treatment for chronic gastroparesis. This additional investment was contributed by existing investors of the company, including Perceptive Advisors and CinRx Pharma. The latest funding takes the total capital raised in the Series B funding round to $59m.