Here are the latest stories being discussed in biopharma today:
Novartis Initially Wanted One Drug from MorphoSys
Novartis initially had an eye for just one cancer drug from German biotech, MorphoSys, before enhancing its bid to acquire the entire company. A new document reveals that Novartis wanted a late-stage small molecule drug from MorphoSys to beef up its pipeline with near-term revenues. A change in stance happened when Novartis was informed that MorphoSys was engaging in transaction talks with other parties. The Swiss pharma giant then offered to buy the entire company, with MorphoSys selling its rights to blood cancer medicine, Monjuvi.
Novartis Strikes Protein Degrader Deal with Arvinas
In an effort to gain a foothold in the growing protein degrader field, Novartis has inked a deal with Arvinas. In exchange for $150 million upfront, Novartis has secured licenses for the mid-stage oral protein degrader, ARV-766, and the preclinical AR-V7 program. The proposed milestones could reach up to $1.01 billion, with additional royalties on ARV-766. Novartis will be responsible for global studies and commercialisation of ARV-766, which is currently being examined in relation to metastatic prostate cancer.
Amylyx Unveils Interim Rare Disease Data for Withdrawn ALS Drug
After withdrawing its ALS drug following an unsuccessful Phase 3 trial, Amylyx Pharmaceuticals has revealed interim data for the same therapy in relation to a rare genetic condition known as Wolfram syndrome. The therapy, AMX0035, revealed promising results in the HELIOS Phase 2 trial, which enrolled 12 patients. The disease typically manifests in childhood, progressing to blindness and deafness.
Lipocine’s Weight Loss Drug Shows Promise in Phase 2
Despite modest weight loss results, Lipocine highlighted the ability of its candidate drug, LPCN 2401, to preserve muscle mass during a mid-stage trial. Lipocine suggested that the drug could be combined with incretin products, such as GLPs, to help manage diabetes and weight loss.
Century Therapeutics Acquires Clade; Eliem Announces $120M Investment
Century Therapeutics announced its acquisition of off-the-shelf cell therapy startup, Clade, for $35 million upfront in cash and stock. In light of the acquisition and a shift towards autoimmune disease research, Century has raised $60 million from a private placement. Additionally, Eliem Therapeutics has secured a $120 million investment and announced a deal.
Vertex Announces $4.9B Deal for Alpine Immune Sciences
Vertex Pharmaceuticals will spend $4.9 billion to acquire Alpine Immune Sciences and its experimental drug, povetacicept, which is used to treat IgA nephropathy, a kidney disease that’s attracted increased interest from large drug makers.
