Merck Spin-Off Prexton Turns mGluR4 Fortunes Around In Parkinson's Disease
Prexton Therapeutics has the only mGluR4-targeting drug candidate in clinical testing, after a number of big pharma dropped preclinical programs. The company has just secured €29m to fund two Phase II trials.
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Lundbeck has swooped in to buy Merck KGaA spinout Prexton Therapeutics for €100m upfront, prior to Phase II data readouts for its potential first-in-class Parkinson's drug, foliglurax.
ADC Therapeutics and Unity Biotechnology close $100m-plus VC rounds, while Carrick comes close with a $95m debut. Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Venture Funding Deals column provides a comprehensive monthly review of emerging biopharmaceutical companies that have received venture funding. This month’s column covers deals announced in September and October 2016.
Amgen is to acquire Dezima Pharma B.V., which recently published highly positive Phase IIb data with its CETP inhibitor TA-8995 suggesting it might have potential as a more cost-effective option for lowering cholesterol than the PCSK9 inhibitor approach. Amgen just had its cholesterol-lowering injectable PCSK9 inhibitor antibody Repatha (evolocumab) approved.