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Novartis eyes $2.9bn MorphoSys buyout to expand oncology pipeline

Novartis announced that it has set its sights on MorphoSys with a $2.9bn cash acquisition agreement to bolster its oncology portfolio. As per the 5 February press release, Novartis will pay approximately $73 per share and will gain cancer therapies pelabresib (CPI-0610) and tulmimetostat (CPI-0209) upon the acquisition’s completion. Tulmimetostat is a dual inhibitor that targets EZH1/EZH2.

Silence announces $120m private placement for depositary shares

Silence Therapeutics has announced an oversubscribed private placement of its 5,714,286 American depositary shares (ADS) priced at $21 each. The company expects the aggregate gross proceeds of $120m (£94.6m) to advance its ribonucleic acid interference (RNAi) therapeutics for unmet medical needs. New and existing institutional and accredited investors have shown interest.

Almirall and Microsoft partner for dermatological drug development

Pharmaceutical company Almirall has entered a strategic collaboration with Microsoft to steer innovation and digital transformation in dermatology. The three-year collaboration will leverage generative artificial intelligence (genAI) and advanced analytics. The involved companies will establish a joint “digital office” which will build on Almirall’s comprehensive data platform.

Source: Pharmaceutical Technology

NeoPhore adds $12.2m in Series B extension for immuno-oncology pipeline

NeoPhore has raised £9.6m ($12.2m) in a Series B financing extension, bringing the round’s total to £31.1m. Sixth Element Capital, which is currently managing the CRT Pioneer Fund (CPF), led the round, with participation from existing backers and three new investors. NeoPhore is developing a pipeline of drugs targeting proteins along the DNA mismatch repair (MMR) pathway.