EPIC Fail For Mast Therapeutics’ Lead Drug Sends Shares Into Freefall
Shares in Mast Therapeutics dropped by more than 80% upon news that a Phase III trial of its lead product vepoloxamer in sickle cell disease had failed.
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Finance Watch: Surrozen Raises $33m In $483m February Flurry; Also, Are Reverse Mergers This Year's IPOs?
Surrozen raised $33m to fund drug development programs targeting Wnt ligands for various indications during a February VC financing flurry that occurred despite a drop in IPOs. Taking an alternative route to going public, some biopharma companies have completed reverse mergers in recent weeks and months.
Allergan strikes a pair of deals for gastrointestinal and CNS candidates, while Amgen expands its reach in bispecific antibodies via a partnership with Immatics.
Novartis has exercised its option to acquire Selexys in a deal worth up to $665m, following data from the Phase II SUSTAIN trial of SelG1 in sickle cell disease. The move follows several recent failures in the space.