Jun 6 Pharma Business news

The Business Cocktail

Cancer biotech Inhibrx files for USD 75 M IPO

Celgene-partnered biotech Inhibrx aftersecuring USD 40 Million from Viking Global Investors, has filed for USD 75 million IPO. Built on a single-domain antibody platform, it has three oncology programs in human clinical trials, a rare disease program, and two preclinical drugs. Inhibrx, has also granted Italian-based Chiesi Farmaceutici, the rights for the development and commercialization of AAT-fusion protein INBRX-101, outside of North America. Chiesi will pay USD 10 million upfront and buy a USD 10 million worth of shares in Inhibrx.

EpimAb Biotherapeutics raises USD 74 M to accelerate bispecific pipeline

EpimAb Biotherapeutics, a Shanghai-based biopharmaceutical company specializing in bispecific antibodies, today announced the closing of a USD 74 million Series B financing round. EpimAb secured funds from SDIC Fund, Sherpa Healthcare Partners and SCVC, 3E Bioventure Capital, Decheng Capital, Oriza Seed Capital and the Trend Investment Group. The company is deciding to use the funds to advance its bispecifics pipeline-based on its Fabs-in-Tandem Immunoglobin technology, abbreviated as Fit-IG. The company is also simultaneously working with U.K.-based Kymab and China’s Innovent and Teruisi, mainly in oncology based areas.

Columbia University, Deerfield forms a drug-development alliance

Deerfield Management, a healthcare investment firm, and Columbia University have collaborated to form a research and development alliance. The team intends to accelerate the translation of biomedical discoveries into transformative treatments. Many universities just like Columbia University are trying to convert their research analysis and insights into products and services.

Lung Therapeutics nets USD 36 M to advance its clinical assets

Lung Therapeutics has raised USD 36 million in a Series C financing round to take forward the treatment of serious lung complication. The company has decided to use the funds for the treatment of loculated pleural effusions (LPE), a serious complication of pneumonia. The proceeds will also be spent to support Phase I clinical trials for another asset, LTI-03, a proenzyme that slowly gets activated in the lung, clearing scar tissues and promoting fluid drainage for the treatment of idiopathic pulmonary fibrosis (IPF).

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