Latest Deals
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Blackstone to provide $750m for Moderna’s flu programme
Blackstone Life Sciences has entered a development and commercialisation funding agreement with Moderna, committing $750m to support the latter’s influenza programme. The funding will also help support messenger ribonucleic acid (mRNA) technology. Funds managed by Blackstone will offer substantial financial backing for the ‘flu programme. In return, the company will be eligible to receive milestone and royalty payments on any successful ‘flu products that emerge.
Diagonal Therapeutics raises $128m for antibodies discovery
Biotechnology company Diagonal Therapeutics has announced its launch, raising $128m through a Series A financing round for its new approach to discovering and developing agonist antibodies. The company plans a new approach to develop antibodies to address the underlying causes of severely debilitating disease. The funds will be utilised to advance its Diagonal platform and the development of a therapeutic pipeline.
Merz makes a $185m bid for assets from bankrupt Acorda
Merz Therapeutics has entered an agreement to buy three commercial assets from Acorda Therapeutics for $185m, a day after the latter biotech filed for bankruptcy. Germany-based Merz is acting as a “stalking horse” bidder, meaning the assets could be sold for more than the $185m opening bid if another company decides to swoop in at a higher price.
Novartis signs deal for Arvinas’ prostate cancer therapy
Novartis has signed an exclusive strategic licence agreement for Arvinas’ ARV-766, a new treatment for prostate cancer. ARV-766 is a second-generation PROTAC androgen receptor (AR) degrader. In preclinical studies, it has shown potential against wild-type androgen receptor tumours, as well as those with AR mutations or amplification, which can lead to resistance to current AR-targeted therapies.
