Novome raises USD 33M, Buyout of Bioniz, Adagene raises USD 69M

A biotech company Novome Biotechnologies is developing novel live medicines for chronic diseases, has raised USD 33 Million in Series A financing.

The financing was led by DCVC Bio with participation from seed investor 5AM Ventures, Alta Partners, Alexandria Venture Investments and Mayo Clinic. The company plans to use the funds to advance the Company’s lead hyperoxaluria program and to expand its Genetically Engineered Microbial Medicines (GEMMs) platform. 

The company is developing a robust pipeline to treat chronic diseases that invades the human gut. The pivotal program of the company is focusing on advancing the treatment approach for hyperoxaluria. 

Hyperoxaluria is excessive urinary excretion of oxalate, which often results in calcium oxalate stones in the kidney.

Almirall, a Spanish biopharma company has decided to strike a deal to purchase Bioniz Therapeutics to expands its CTCL pipeline.

Barcelona-based Almirall – which specialises in dermatology – says that the deal would expand its R&D pipeline with an additional three candidates on top of lead drug BNZ-1.

BNZ-1 is a selective cytokine inhibitor of IL-2, IL-9 and IL-15 and is in the early-stage trial for Cutaneous T-cell lymphoma treatment. The drug poses a potential treatment approach for alopecia areata, a form of hair loss with no FDA-approved therapies.

Under the terms of agreements, the company will receive an upfront initial payment of USD 15Million in exchange for the Almirall option to acquire all Bioniz outstanding shares.  If Almirall exercises its option, Bioniz will receive an option exercise fee of USD 47M, plus additional milestone payments and royalties.

Adagene has raised around USD69 million in a Series D financing round to advance its treatment portfolio of cancer. 

The company has decided to use the funds to support and advance the development of its lead clinical candidates for the treatment of cancer.

ADG106 is the most advanced clinical drug of the company and is a first-in-class anti-CD137 monoclonal IgG4 antibody. The drug is at present in Phase I clinical trials for advanced or metastatic solid and liquid tumors.