Jul 11 Pharma Business news

Pharma Market | Osivax raises USD 9 M; Smyraf launched in Japan; Revolution Medicines secures USD 100 M

Osivax raises USD 9 M to boost its universal flu vaccine approach

France based biotech startup company Osivax, has secured USD 9 million in Series A financing. A Belgian-based firm Noshaq along with Anaxago, an innovative investment platform led the financing. The proceeds will be used to further advance the clinical development of its lead flu vaccine, back up strategic corporate growth and evaluate a second-generation vaccine candidate to target both A- and B- strains of influenza. At present, the unmet needs in the Influenza therapy market are the limitation of flu vaccines in targeting all the regions of viruses. Whereas, Osivax has come up with a universal flu vaccine approach that uses a recombinant NucleoProtein (NP), to achieve clinical proof-of-concept for its lead vaccine candidate, OVX836. Osivax is also planning to open a new subsidiary in Liege, Belgium.

Astellas’s Smyraf launches in Japan

Astellas Pharma has announced the launch of Smyraf (peficitinib hydrobromide) 50 mg and 100 mg Tablets in Japan for the treatment of rheumatoid arthritis. The drug, approved to be administered on patients failing to respond to conventional therapies, is an oral Janus kinase (JAK). The rheumatoid arthritis prevalence, as estimated by the CDC is 1.3 million U.S. adults. The number of patients affected by rheumatoid arthritis in Japan is calculated to be approximately 0.6 to 1.0 million. Smyraf will act as an add-on in the current rheumatoid arthritis therapy market which as of now comprise of conventional methods of treatment.

Revolution Medicines secures USD 100 M to target RAS-dependent cancers

Revolution Medicines has successfully raised USD 100 Million in Series C financing. The company is planning to use the proceeds in advancing the pipeline products comprising of KRASG12C (GTP) and other specific tumorigenic mutants of RAS and fighting RAS-dependent cancers. Financing was led by Boxer Capital of the Tavistock Group and joined by Cormorant Capital, Deerfield Management, Fidelity Management & Research Company, Vivo Capital and Biotechnology Value Fund, as well as all Series B investors, including Nextech Invest, Schroder Adveq, The Column Group, Third Rock Ventures and Casdin Capital. RMC-4630, a potent, bioavailable small molecule that inhibits the activity of SHP2, is a lead candidate of the company which is in clinical trial phase I/II, in collaboration with Sanofi.

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