Synthorx needs IPO; Deerfield puts up $80M; SVB remunerates; Celgene’s deal

Preclinical biotech Synthorx needs a USD 100 Million IPO

The early-stage Synthorx needs USD 100 million IPO.  A while ago, La Jolla, California-based biotech got off a USD 63 million series C, but now wants a USD 100 million from an IPO to progress its pipelines of synthetic cytokines, which are designed to improve the efficacy of immuno-oncology treatments without the negative side effects that sometimes come with native cytokines.

Deerfield puts up USD 80 Million to pursue protein degradation R&D

Deerfield Management is setting up USD 80 million to fund the creation of a new Center for Protein Degradation at the Dana-Farber Cancer Institute. The goals of the project include creating a new small-molecule therapy platform that can direct and drive protein degradation by the proteasome, harnessing the complexes that cut down and clear damaged or harmful proteins from the cell.

SVB remunerates USD 280 Million to Leerink

Silicon Valley Bank parent SVB is remunerating USD 280 million to prominent life sciences investor Leerink Partners for creating SVB Leerink. This is a company that will deliver a complete capital markets offering. This includes debt, convertible debt and equity financing as well as advisory services, which further includes mergers & acquisitions for private and public healthcare and life science companies. SVB is already active in both tech and life sciences; its clients include around half the venture capital-backed companies in these sectors in the U.S., but collaborating with Leerink, it will give it a big gain in life sciences, particularly in research and advisory expertise.

Celgene extends Dragonfly natural killer cells deal

Celgene is increasing its cancer immunotherapy agreement with Dragonfly Therapeutics, remunerating USD 50 million up front for accessing to four more natural killer (NK) cell-based programs. The duo collaborated last year when Celgene pays USD 33 million to license four assets for the blood cancers treatment. The original four assets are designed to treat acute myeloid leukaemia, multiple myeloma and other haematological cancers, while the new four include treatments in development for solid tumours.