Oct 24 pharma news

Rapt Therapeutics files for IPO at $75M; Novartis stakes $80M on Pliant’s preclinical NASH outlook; GSK gives two of its less profitable vaccines to Bavarian Nordic

Rapt Therapeutics files for IPO at $75M

Rapt Therapeutics, based in the US, filed to raise to $75 million in its IPO. This had come after five months when the company had retitled itself, which was earlier known as Flx Bio and after three months, it had filed its initial S-1 form with the hope to gain $86 million in its Nasdaq debut. Bristol-Myers Squibb bought Flexus Biosciences and then Rapt was founded in 2015.

The company will utilize the takings to get FLX475, a CCR4 antagonist for the cancer treatment, and RPT193, a second CCR4 med, through phase 1 in atopic dermatitis. The capital will also bolster the development of its early-stage inhibitor of general control nonderepressible two that plays a role in antitumor immunity and tumour cell survival. 

Novartis stakes $80M on Pliant’s preclinical NASH outlook

Novartis has raised an initial $80 million to receive the global license to Pliant Therapeutics’ preclinical nonalcoholic steatohepatitis (NASH) asset and three additional candidates. The NASH drug, PLN-1474, a small molecule inhibitor of integrin αVβ1 Pliant contemplates can decrease the development of fibrotic tissue in the liver.

Pliant Therapeutics, based in South San Francisco, the best known for the idiopathic pulmonary fibrosis treatment by inhibiting the integrins αVβ6 and αVβ1. The program produced phase 1b data over the summer, setting Pliant up to transfer into phase 2a, and reinforced an earlier $62 million series B round.

GSK gives two of its less profitable vaccines to Bavarian Nordic

GlaxoSmithKline is ridding two of its lower-selling vaccines to simplify its vaccine supply chain and delivers money for investing in higher-growth areas. GSK will receive $336 million from Bavarian Nordic in return of Rabavert vaccine for rabies and Encepur vaccine for tick-borne encephalitis. Rabavert and Encepur are smaller brands for GSK.

GSK has settled to keep manufacturing the products at its facility in Marburg, Germany until the technology transfer between the two companies is finished. They hope the transfer to commence in early 2020 and finish within the coming five years. Over that period, GSK will also get 495 million euros worth of milestone payments, with additional proceeds, related to inventory sales.

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