Jun 20 World Pharma News

The Business Cocktail

Gilead jumps into a competitive Protein degradation field, signs a USD 45 M Nurix deal

Gilead Sciences is turning to Nurix Therapeutics for enhancing cancer pipeline. Gilead is ready to pay USD 45 million upfront, and if all the targets are achieved the deal could reach up to USD 2.3 billion. Nurix is a drug developing company focused on operating the ubiquitin system, which breaks down damaged, unneeded and disease-causing proteins. The partnership will arm Nurix to use its technology to accelerate its drug discovery especially the ones that use E3 ligases—enzymes that regulate protein levels in human cells and degrade specific protein targets. On the other hand, Gilead will have the option to license up to five different disease targets research programs related to cancer and other challenging diseases. The companies, however, will continue to build their relative pipeline individually.

Comet Therapeutics comes out of its stealth mode, raises USD 28.5 M

Comet Therapeutics has successfully raised USD 28.5 million in Series A funding to progress its research and drug development. The funding led by its existing investor Sofinnova Partners, and INKEF Capital along with a new investor, BioInnovation Capital. Comet’s pipeline includes several potential therapies for metabolic disorders, neuro-metabolic diseases, immuno-metabolic conditions and other life-threatening diseases. The funding subsidised to Comet will help in advancing its drug into the trials. The company also aims to develop a drug, through its Coenzyme A technology, to treat metabolic, neurological and immunological disorders.  

Cara Care Nabs USD 7M IN A Series led by J&J

Germany-based digital health company Cara Care, announced today that it has secured USD 7 million in Series A funding primarily led by Johnson & Johnson Innovation alongside with  Barcelona-based VC firm Asabys Partners and existing investor Atlantic Labs. Cara care launched an app to offer patients struggling with irritable bowel syndrome, inflammatory bowel disease and gastrointestinal reflux disease. The company developed the app to help them manage their medications and improve their diets. The ideology of the company is a belief in mobile software to treat GI diseases in a better way.

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