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Diaccurate Acquires Clinical Stage Sole-in-Class Targeted Cancer Therapy (PAM inhibitor, formerly M2698, now DIACC3010) from Merck
“We are confident that Diaccurate’s strong scientific background in developing novel mechanisms makes them the right partner to advance the development of M2698 in cancers with high unmet needs,” said Andreas Stickler, Chief Financial Officer and Head of Strategy, Business Development and Portfolio Management of the Healthcare business sector of Merck, KGaA, Darmstadt, Germany.
CG Oncology and BMS to Evaluate Oncolytic Immunotherapy CG0070 in Combination with OPDIVO® (nivolumab) in Metastatic Urothelial Cancer
“We are excited to initiate this important clinical trial with our lead oncolytic immunotherapy, CG0070, in combination with OPDIVO in metastatic urothelial cancer,” said Arthur Kuan, CEO of CG Oncology. “The clinical results to date for CG0070 make it a potential promising agent in bladder cancer and other tumor types, as monotherapy or in combination with immune checkpoint inhibitors.”
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AbbVie going big with $370M on gene therapy for eye diseases, with a Regenxbio partnership
2013 born biopharmaceutical company AbbVie, a current giant, is expanding ophthalmology with a partnership with Regenxbio, a Maryland-based biotech company. With this new deal on Sept. 13, 2021; AbbVie is getting the global rights for the development and marketing of Regenxbio’s RGX-314. While Regenxbio will get $1.38 billion milestone cash and support for their next drug trials.
RGX-314 is a single-visit treatment, currently being evaluated in trials with the "wet" form of age-related macular degeneration, or AMD, a common eye disease that causes vision loss affecting 196 million in 2020. The therapy comes as a onetime AAV8-derived injection and is designed to deliver a gene that creates proteins meant to neutralize VEGF. Regenxbio believes this approach holds advantages over currently available treatments, which require monthly or bi-monthly eye injections that patients may view as "repetitive" and "inconvenient." Results from that trial are expected in 2023. Regenxbio is also sponsoring a pair of mid-stage studies, testing its therapy against wet AMD and another eye condition called diabetic retinopathy.
“We expect to leverage AbbVie’s global developmental and commercial infrastructure within eye care with our expertise in AAV gene therapy clinical development and deep in-house knowledge of manufacturing and production to continue the development of RGX-314,” said Ken Mills, president, and CEO of Regenxbio, in a prepared statement.
This investment extends AbbVie’s reach in the booming field of gene therapy. Investors loved the sound of money on Monday. Shares of Regenxbio shot up over 20% ahead of the bell.
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Lilly puts $70 million B round for Lycia Therapeutics into protein degradation
On Sept. 09, 2021; Pharma giant Eli Lilly announced they are teaming up with Lucia Therapeutics, a small San Francisco-based biotech company, to develop at least 5 protein degradation players for immunology and pain. “I hope that [the $70 million] will get us to a few development candidates. So it will really progress us and support us over these next few years,” Lycia CEO Aetna Wun Trombley told.
Protein degradation offers potential hope for many disease targets. Within the last decades, exciting research shows promise, using proteolysis, especially on extracellular proteins. Lycia’s technology centers around LYTACs or lysosome-targeting chimeras. This glycan-antibody construct connects cellular surfaces to the liposome via a CI-M6PR receptor and also goes after an additional 40% of potential target proteins. This new development has attracted interest from drugmakers and investors alike. Last year, many pharma companies emphasizing protein degradation raised millions of dollars through initial public offerings. Lycia, too, caught the attention of Versant, and was formed in 2019 with the firm's funding and the scientific direction of Carolyn Bertozzi, a renowned chemist, and director of Stanford University's ChEM-H research institute. Two years later, Lycia has a nod of confidence from one of the world's largest pharmaceutical companies. Besides Lilly and Pfizer, other large companies like Roche, Vertex, and Biogen have partnered with biotechs to research and develop therapies that rely on protein degradation.
"We believe Lycia's technology may allow us to develop targeted therapeutics that were not previously feasible and make advances for patients in areas of high unmet need," Ajay Nirula, vice president of immunology at Lilly, said in a statement Wednesday.
With this new flow of investment, Lycia Therapeutics, a 20-member company, is looking for fast growth and rapid hiring.
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