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First patient dosed in monalizumab Ph 3 trial triggers $50M payment from AstraZeneca
“We are very pleased that our key late-stage asset, monalizumab, has progressed into Phase 3 with our partner, AstraZeneca. The launch of INTERLINK-1 represents an important financial milestone for Innate, as it triggers a $50 million milestone payment that fortifies our cash position through the end of 2022,” said Mondher Mahjoubi, Chief Executive Officer of Innate Pharma. “The steady and rapid progress of this program is a testament to our strong collaboration with AstraZeneca, and we are hopeful that together we will bring a novel treatment option to this patient population with high unmet medical need.”
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Immune Therapeutics, Inc. Announces Signing of Definitive Merger Agreement Between Cytocom and Cleveland BioLabs
Michael K. Handley, President and Chief Executive Officer of Cytocom, stated, “Our merger with Cleveland BioLabs and its subsequent immune-focused platform will be a transformative growth opportunity for Cytocom and Cleveland BioLabs shareholders. We believe that the combination of these highly complementary late-stage pipelines will strengthen our position and advance our efforts to unlock the potential of immune-modulating agents in the treatment of serious medical conditions. Further, this merger will enhance our ability to become a recognized leader in immune-modulating treatments and builds on the momentum created by our recent acquisition of ImQuest Life Sciences. We plan to utilize the combined platform to further drive value with additional clinical and commercial products and continue to seek strategic partnerships and acquisitions.”
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Bayer acquires Asklepios BioPharmaceutical for $2 billion
On 26th October 2020, Bayer AG announced the acquisition of US-based biotech company Asklepios for $2 billion upfront and as much as a further $2 billion based on success milestones. With this giant acquisition, Bayer will gain the full rights to AskBio’s gene therapy platform, including a broad intellectual property portfolio and an established contract development and manufacturing organization (CDMO).
“In line with our purpose ‘science for a better life’, we are committed to bringing significant improvements for patients through innovation. With this acquisition, Bayer significantly advances the establishment of a cell and gene therapy platform that can be at the forefront of breakthrough science, contributing to preventing or even curing diseases caused by gene defects and further driving company growth in the future.”- Werner Baumann, CEO Bayer AG.
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Ultragenyx and Solid Biosciences signed a strategic collaboration to advance the gene therapies for Duchenne Muscular Dystrophy
On 23rd October 2020, Ultragenys and Solid BIoscie announced a strategic collaboration and license agreement to focus on the development and commercialization of new gene therapies for Duchenne. According to the pact, Solid Bioscience will receive $40 million upfront via equity investment at a premium; up to $255 million in milestones plus royalty payments.
“We believe that Solid’s microdystrophin is best-in-class with its unique neuronal nitric oxide synthase binding domain. By using an AAV8 variant validated in prior human and other studies combined with our scalable, efficient HeLa producer cell line platform, we believe we can leverage our mutual strengths to develop a high-quality AAV-based treatment alternative for Duchenne.” - Emil D. Kakkis, CEO and President, Ultragenyx.
“Ultragenyx has a demonstrated track record of success in developing and commercializing innovative therapies for rare diseases “We believe it is the partner of choice for exploring new gene therapy opportunities for patients with Duchenne.” - Ilan Ganot, Co-Founder, President and CEO, Solid Biosciences.
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