HLB Takes First Expansion Step Via Immunomic Acquisition
South Korea’s HLB has begun a new growth phase by taking over US-based clinical stage biotech firm Immunomic Therapeutics. Through the acquisition, it is poised to add new pipeline assets including a Phase II vaccine therapy for glioblastoma and proprietary lysosomal targeting technology.
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Finance Watch: Erasca Raises $200m As VC Mega-Rounds Continue
Private Company Edition: In addition to Erasca’s big series B round, Mabwell reportedly brought in $278m. Also, Kurma, Venrock and Section bring the number of new VC funds in April to eight, raising $5.89bn, and former AveXis execs launched the new gene therapy venture Taysha.
Deal Watch: Genentech Sees Bicycle As Route To Novel Targeted Cancer Immunotherapies
Genentech pays $30m up front in a collaboration with Bicycle in a deal that could bring the UK biotech roughly $1.7bn in total. Also, deals involving Nimble, Seattle Genetics, Five Prime, Fresenius, Vifor, Yuhan, Imnewrun, Paratek, Almirall, MBD, AzothBio, Norgine, Faes, Aspen Pharmacare, Swixx.
Elevar Aims For Rivoceranib Turnaround After Positive Phase III Update
Despite failing to meet the primary endpoint in recent top-line Phase III results, Elevar Therapeutics (formerly LSK BioPharma) is hopeful that rivoceranib still has potential in late-stage gastric cancer based on generally positive full efficacy data from the global Phase III study presented at ESMO.