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Verona Pharma has been given a leg up from two financial firms, Oxford Finance and Hercules Capital, securing a debt financing facility to support the potential launch of its COPD drug candidate ensifentrine.
Trading cash for single-digit royalties on products, the deal provides ImmunityBio with the cash it’ll need to potentially commercialize its bladder cancer drug, if approved. The PDUFA date is April 23, 2024.
The Swiss pharma is looking to leverage Voyager Therapeutics’ capsid technology for gene therapies aimed at treating Huntington’s disease and spinal muscular atrophy.
All three companies closed out the year, which saw significant growth in mergers and acquisitions, with high-value deals that could potentially set the tone for M&A in 2024.
Amid the Biden administration’s efforts to reduce drug prices, Reuters reported in an exclusive that several pharmaceutical companies will raise pharma prices in January 2024.
Biopharmas of varying sizes—including larger companies like Amgen, Gilead and Pfizer—cut employees in 2023 to stay afloat.
Eli Lilly has signed a multi-year contract with animal genomics biotech Fauna Bio to use its artificial intelligence platform to discover drug targets for obesity in a deal worth nearly half a billion dollars.
Activist investor Elliott Investment Management has struck a deal with BioMarin and will add three people to its board of directors with a new stake in the company.
It has been a topsy-turvy year marked by record bankruptcies, a sharp drop in funding, few IPOs, and a steady stream of layoffs and regulatory challenges offset by M&A deals and the hot weight loss and antibody-drug conjugate markets.
Under the companies’ agreement, a previously disclosed option exercise fee of $75 million has been reduced to $10 million and the remaining pre-option development milestone has been removed.
GSK withdrew three patents related to its asthma inhalers while Impax delisted both of its patents for Adrenaclick and Kaléo delisted eight patents covering Auvi-Q—the companies’ respective epinephrine auto-injectors.
The acquisition announced on Friday will give Bristol Myers Squibb ownership of Karuna Therapeutics’ investigational antipsychotic KarXT, which is being tested for schizophrenia and Alzheimer’s disease psychosis.