Jan 5

Business Cocktail

Centrexion Therapeutics has raised a total of USD 67 million to fund phase 3 pain trial

Jeffrey Kindler‘s managed biotech company Centrexion Therapeutics has raised $67 million. The funds will be used to promote nonopioid pain drug candidate CNTX-4975 into a phase 3 trial with patients suffering from knee osteoarthritis in the coming months.

The series D funding was led by New Enterprise Associates (NEA) with assistance from new and existing investors including ArrowMark Partners, Quan Capital.

Pfizer and Arvinas in a USD 830 million deal to target multiple therapeutic areas

Arvinas, a private biopharmaceutical company focused on developing first-in-class small molecule protein degradation protein therapeutics for cancers and other life-threatening diseases. The company has recently signed a deal possibly worth over $830 million with pharma industry giant Pfizer.

The collaboration will be focused on the discovery and development of advanced technique PROTACs (proteolysis targeting chimeras) to target multiple indications.

Menlo ready to take advantage of USD 98 million IPO offering

Founded in 2011 and initially known as Tgercat Pharma, Menlo is now looking to take advantage of a strong IPO offering of USD 98 million. The late-stage California dermatology pharma company is making the move just after 6 months of getting a USD 50 million series c funding.

The midstage pipeline drug serlopitant is predominately focused on various causes of skin itch and refractory chronic cough.

 Pharma giant Roche is planning to buy Ignyta for around USD 1.7 billion

Recently the big pharma company Roche has announced its plan to buy US group Ignyta for around USD 27 a share in an all-cash deal worth around USD 1.7 billion, for getting the experimental cancer medication access being under development by Ignyta. California-based company Ignyta is focused on developing precision medicine in oncology therapeutic area that seeks to identify and treat patients with cancers carrying specific rare mutations.

Mallinckrodt all set up to buy Sucampo at a deal price of USD 1.2 billion

Mallinckrodt, an England based pharmaceutical company is buying US-based biopharmaceutical company Sucampo Pharmaceutical at a deal price of about USD 1.2 billion.

The deal will give Mallinckrodt an instant access to sales from Sucampo’s bowel drug candidate Amitiza (lubiprostone), and will also strengthen up its rare diseases pipeline with the addition of another promising drug VTS-270, currently in Phase III of development for Niemann-Pick Type C, and CPP-1X/sulindac, which is also in Phase III of development for Familial Adenomatous Polyposis.

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