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Seattle Genetics to Receive Milestone Payment Under ADC Collaboration with GSK Following EU Approval of BLENREP (belantamab mafodotin)
“This is the second collaborator program utilizing our ADC technology to receive European Commission approval in 2020, and rapidly follows the FDA approval of BLENREP earlier this month, highlighting the potential of these novel therapies in the treatment of cancer patients globally,” said Clay Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “Our ADC collaborator progress, along with the growth of Seattle Genetics’ marketed ADCs, ADCETRIS and PADCEV, and recent positive results of tisotumab vedotin from our ADC pipeline, underscore our leadership in ADCs to treat cancer.”
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Nestle acquires Aimmune Therapeutics for $2.6 billion, bagging first in class peanut allergy drug
On August 31st 2020, Nestle S.A. (Nestle; Vevey, Switzerland) announced its commitment to acquire Aimmune Therapeutics (Aimmune, Brisbane, CA) in a $2.6 billion deal for Aimmune’s peanut allergy drug, PALFORZIA®. PALFORZIA® the first and only approved drug to treat peanut allergy, is a peanut allergen powder and an oral immunotherapy that can mitigate anaphylaxis through dose escalation. It is approved for patients aged 4 to 17.
“Delivering PALFORZIA, the world’s first treatment for food allergy, is a game-changing proposition in the biopharmaceutical industry and is transformative for the lives of millions of people living with potentially life-threatening peanut allergy...This acquisition provides strong value for our shareholders and ensures a level of support for PALFORZIA and our pipeline that will further enhance their potential for patients around the world living with food allergies. Aimmune appreciates the continued strong collaboration with Nestlé Health Science dating back to 2016 through their support as a shareholder and board member, as well as through their consumer/nutrition strength and experience. Their extensive capabilities and global reach, as well as their alignment with our vision of pioneering treatments and solutions for food allergies, are a strong fit for our company.”- Jayson Dallas, MD, President and Chief Executive Officer of Aimmune.
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Athira Pharma files $100 million IPO to fuel its neuronal regenerative therapy through Phase III clinical trials in Alzheimer’s
On 28th August 2020, news came in that Seattle-based Athira Pharma (Athira) has filed an IPO of $100 million to pivotal trials of its neuronal regenerative molecule, ATH-1017, in Alzheimer’s disease. ATH-1017 is a small molecule targeting hepatocyte growth factor (HGF) and its receptor MET towards natural reprogramming of neuronal connections in brain diseases like Alzheime’s and Pakinson’s. Early studies of ATH-1017 in 11 mild-moderate Alzheimer’s patients and 77 healthy individuals demonstrated at P300 latency readouts close to observed values in healthy volunteers. These results led Athira to successfully raise $85 million in series B funding in June this year.
With the cash infux post IPO, Athira plans on Phase III trials of ATH-10i7 in Alzheimer’s patients while also starting Phase II trials in Parkinson’s patients. Athira also plans for Investigational New Drug (IND) studies for neuropsychiatric prospect ATH-1019 and neuropathy treatment ATH-1018.
It is interesting to note that Athira went IPO with no commercial sales from any of its products. In the mired field of Alzheimer’s treatment, Athira presents a novel therapeutic alternative to the well-studied, but failed, Beta amyloid class of drugs; and is banking heavily on the performance of its HGF/MET agonist.
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