May 30 World Pharma News

The Business Cocktail

Iovance infuses USD 75 M to boost Cancer therapy

Iovance Biotherapeutics is all set to build a 136,000-square-foot facility in Philadelphia to develop cancer therapies using its tumour-infiltrating lymphocyte (TIL) technology. Building the new facility will cost the Iovance around USD 75 Million. The biotherapeutic company is looking to reduce its reliance on contract manufacturing organizations while climbing higher in the market with its leading cancer immunotherapy, lifileucel. The tumour-infiltrating lymphocyte facility will benefit several thousand patients a year.

Novartis pumps USD 30 M into Ayala Pharmaceuticals

Israel-based Ayala Pharmaceuticals has successful raised USD 30 Million in Series B Financing. The investment, coupled with the continued support by Novartis, has been accelerating Ayala’s ability to step up its clinical trial activities. The funds will be used to expedite the mid-phase development of pan-Notch inhibitor AL101, which recently has been designated an Orphan Drug Designation by the FDA in adenoid cystic carcinoma (ACC).

Bayer and Foundation Medicine collaborate for Vitrakvi diagnostic development

Bayer has teamed up with the Foundation Medicine to develop new companion genetic diagnostic tests for several of its cancer therapies. The initial focus will be on tissue-agnostic Vitrakvi, which has been granted accelerated approval and is the first targeted cancer drug developed and approved for a pan-cancer indication, in solid tumours with TRK fusion mutations.

Amicus expands gene therapy collaboration with UPenn

Amicus Therapeutics has collaborated with the University of Pennsylvania to increase its presence in inherited metabolic disorders treatment market. Galafold, one of the Amicus’s marketed products, treats Fabry disease- one such disorder. The partnership is aimed at augmenting the research and development of gene therapies for lysosomal disorders in which genetically driven enzyme deficiencies lead to a buildup of toxic materials in tissues and 12 additional rare diseases.

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