May 3 business cocktail

Business Cocktail

Horizon Discovery declines Abcam’s USD 367 million takeover bid

Horizon Discovery has recently rejected a buyout bid worth USD 367 million from Abcam. Horizon Discovery is an expert in gene editing technique and has issued a strong rejection to the offer of Abcam. Horizon’s board believes that the bid undervalues the company due to which it has rejected the offer.

Casma Therapeutics kick starts with USD 58.5 million for treatments targeting the cell’s garbage disposal

Casma Therapeutics is heading with a USD 58.5 million series a funding to aim at a range of conditions through a process called cell garbage disposal. Funding was backed by Third Rock, this platform that could possibly lay the foundation for disease-modifying therapies for several neurodegenerative and inflammatory diseases.

Refuge Biotech successfully bagged USD 25 million from Chinese funding firms for ‘intelligent’ CAR-T

Sequioa China and 3SBio led USD 25 million series B funding for Refuge Biotech. The funding will fuel the company’s dead Cas9-based cell therapies. The therapy uses mutated Cas9 enzymes to control the expression of certain genes, resulting in therapeutic cells that are programmed to make cancer-fighting decisions inside the body.

Johnson & Johnson signed USD 140 million deal for preclinical stage oncolytic virus startup

Johnson & Johnson is paying USD 140 million for buyout of oncolytic immunotherapy startup BeneVir Biopharm. The deal gives J&J control of preclinical candidates designed to avoid the body’s immune system, enabling them to kill cancer cells for longer period of time.

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