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Apollomics, Inc. Closes $124 Million Series C Financing supporting the development of APL-101 and APL-106 programs
“Apollomics is focused on a precision medicine approach that targets specific mutations, amplifications and resistance mechanisms to bring transformative therapies to cancer patients, said Guo-Liang Yu, PhD, Co-Founder, Chairman and Chief Executive Officer. “We appreciate the profound level of support and interest we received during this financing and welcome several new investors to our shareholder base. With this infusion of capital, we will continue our ambitious plans to progress our current pipeline and expand our programs globally.”
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Merck to Acquire VelosBio
“Merck is a recognized leader in oncology, and this acquisition reflects the hard work and commitment of all the employees at VelosBio in advancing the science of ROR1,” said Dave Johnson, founder and chief executive officer at VelosBio. “We are very pleased that Merck has recognized the value of our first-in-class ROR1-directed investigational therapeutics. As part of Merck’s oncology pipeline, our lead product candidate, VLS-101, is now well positioned to achieve its maximum potential to benefit appropriate cancer patients in need.”
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Decibel Therapeutics secured $82 M Series D Funding to strengthen hearing loss gene therapy research
On November 9, 2020 Decibel Therapeutics, Boston based biotech company raised $82 Million series D funding. The financing was led by OrbiMed, with new investments from BlackRock Health Sciences, Casdin Capital, Janus Henderson, Samsara BioCapital, and Surveyor Capital and Existing investors including Foresite Capital, GV, S-Cubed Capital, Sobrato Capital, SR One, Third Rock Ventures, and other institutional investors. Decibel Therapeutics, currently have multiple pipelines including phase 1 DB-020, that will have initial human efficacy data expected in 2021. This newly acquired funding will help to advance their pipeline DB-OTO, which is in the preclinical stage and have been shown to restore hearing in children with congenital deafness due to a dysfunctional otoferlin gene, and Decibel expects to initiate clinical testing in 2022.
‘At Decibel, we are dedicated to restoring hearing and balance with precision therapeutics designed to deliver the right genetic medicine specifically to the right cells in the ear. We are grateful to this group of outstanding investors for choosing to partner with us to advance this vision.”- Laurence Reid, Ph.D., CEO, Decibel therapeutics.
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Novo Nordisk acquires Emisphere Technologies for $1.35 billion
On 6th November 2020, Denmark-based pharmaceutical company Novo Nordisk acquired Emisphere Technologies for the oral drug delivery platform Eligen® which facilitates the enhanced oral absorption of molecules without altering their chemical form, biological integrity, or pharmacological properties. The merger deal is worth $1.35 billion. These two companies have been partnering since 2007. Utilizing an existing license agreement Novo Nordisk is currently utilizing Rybelsus®, Emisphere’s carrier technology for the oral formulation of a GLP-1 receptor agonist semaglutide. Novo Nordisk is also spending $450 million to acquire related Eligen® SNAC royalty stream obligations owed to MHR Fund Management LLC (MHR). The total buyout deal rounds up to $1.8 billion.
“After a thorough analysis of strategic alternatives, the Emisphere Board and the Special Committee unanimously determined that a combination with Novo Nordisk is the best way to maximize value for our stockholders,” - Timothy G. Rothwell, Chairman, Emisphere.
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