BioNotebook: Three licenses and a royalty deal; Ligand/Avion, RedHill/RESprotect and more
This article was originally published in Scrip
Summer is for relaxing, but biotechnology companies like Avion Pharmaceuticals and investors like DRI Capital remain focused on licensing key programs or buying new revenue streams.
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While Amgen said the Phase III GALACTIC-HF results for omecamtiv mecarbil did not meet its high expectations for the heart failure candidate, Cytokinetics sees a path to treating certain patients.
Olema launched this year’s 76th US biopharma IPO. Also, investments in regenerative medicines reached a new high, Qiming closed a $1.2bn China-focused VC fund, D3 Bio led recent venture deals with a $200m round, and Bausch sold $2bn worth of notes to pay down near-term debts.
The $80m financing will support a Phase III myelofibrosis study for the LSD1 inhibitor and earlier-stage programs, but additional late-stage studies will require an initial public offering, likely next year.