Deal Watch: Parvus Signs Second Big Pharma Alliance, With Genentech
Two years after its first big Navacim-based tie-up with Novartis, Parvus could earn beyond $800m in autoimmune R&D pact with Genentech. Iconic licenses ADC tech from Zymeworks, then out-licenses lead candidate to Exelixis.
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CinCor Plans Baxdrostat Phase III Despite Phase II Miss In Uncontrolled Hypertension
With subgroup analysis that it claims shows efficacy in non-Hispanics and success in a previous Phase II in treatment-resistant hypertension, CinCor plans to outline Phase III plans to FDA in early 2023.
Finance Watch: Platforms Are Great, But Investors Want To See Drug Candidates
Private Company Edition: Panelists at Biocom’s Global Life Science Partnering Conference noted a shift in the types of early-stage drug developers getting venture funding going forward. In recent financings, Synthego closed a $200m series E and Plexium raised $102m.
Start-Up Quarterly Statistics: Financings Fell 17% To $2.84bn In Q2
A review of second quarter biopharma start-up deal-making and financing activity from Strategic Transactions showed a quarter-over-quarter drop in dollars raised despite multiple mega-rounds, including $100m-plus VC deals for SpringWorks and Fusion.