Venture Funding Deals: Spin-Outs From Axovant, Inovio & Sosei
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 January and February 2019.
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Nitric oxide-releasing SB206 missed the primary endpoint in a pair of Phase III studies, but Novan hopes a third study and success on a secondary endpoint still can lead to filing for approval.
Anthos premiers with $250m from Blackstone and cardiovascular disease assets and expertise from Novartis, while Maze brings in $191m for drugs that target gene modifiers. In public company financings, Sage raises $575m ahead of Zulresso approval decision.
In the top April alliance by deal value, Jazz Pharmaceuticals acquired exclusive global development and commercialization rights to Werewolf Therapeutics' WTX-613. Preclinical WTX-613 is an engineered IFN⍺2b cytokine pro-drug that is activated specifically within the tumor microenvironment where it can stimulate IFNα receptors on cancer-fighting immune effector cells. Jazz expects to submit an IND application to the FDA for WTX-613 in 2023. Jazz paid $15M up front and Werewolf is eligible to receive development, regulatory and commercial milestone payments of up to $1.26bn, plus royalties.