Here are the latest stories being discussed in biopharma today:
Bruker Acquires NanoString for $392M
Bruker Corporation is set to acquire NanoString Technologies, a company specializing in spatial biology, for $392.6 million after the latter filed for bankruptcy in February. The offer is a significant increase on NanoString’s $7 million market cap, and 78% higher than what Patient Square Capital offered in March, but it’s significantly down from NanoString’s approximate $3.7 billion value three years ago.
Metsera Launches with $290M to Tackle Obesity
Metsera, an ARCH-backed startup, has officially launched with $290 million in initial funding to develop and bring multiple experimental weight loss drugs into clinical trials. The startup is already testing a GLP-1 agonist in the USA and plans to roll out additional programs soon.
Corner Therapeutics Receives $54M for ‘Brains of Immune System’
Corner Therapeutics bagged a $54 million Series A funding round to develop new immunotherapies against cancer and infectious diseases. The therapies aim to stimulate dendritic cells, often described as “the brains of the immune system.”
23andMe CEO Plans to Take the Company Private
23andMe’s CEO, Anne Wojcicki, is planning to take the health-focused company private according to a securities filing. The consumer genetics enterprise has battled with its dual identity since going public in 2021; its stock has traded for under a dollar per share since last fall.
Biohaven’s $230M Offering
Biohaven is set to make a $230 million public offering. It comes after an update to its experimental auto-immune condition drug, BHV-1300. More data from a Phase 1 healthy volunteer trial is expected to be shared at the company’s R&D Day on May 29.
Cerevel’s Parkinson’s Win Ahead of AbbVie Acquisition Closure
Cerevel Therapeutic has reported a successful Phase 3 trial for its Parkinson’s disease drug, tavapadon. The drug, in combination with already approved treatment levodopa, increased patients’ ‘on’ time by 1.1 hours compared to the placebo, a result that was statistically significant. The positive results come ahead of Cerevel’s pending acquisition by AbbVie.
