Chinook Will Soon Have $275m To Advance Kidney Disease Strategy
Company’s Reverse Merger, New Financing Will Fund Four Clinical Trials
Chinook launched less than two years ago to develop precision medicines for chronic kidney diseases and will have three drugs in the clinic in 2021, including a Phase III candidate for IgA nephropathy.
You may also be interested in...
Although there was no major acquisition starting out the J.P. Morgan Healthcare Conference, the deal-making flow has been steady. Pfizer licensed a neurodegenerative disease candidate to Biogen, while also selling Axsome rights to reboxetine in narcolepsy and fibromyalgia. Biogen signed a neurology R&D collaboration with CAMP4 as well.
Blackstone raised $3.44bn of a $4.58bn life science fund, while HealthCare Royalty Partners raised $1.8bn and MVM closed a $325m fund. Also, 20 private drug developers raised $20m or more, but three public biopharma firms unveiled restructuring plans.
Reata is moving ahead with commercial plans as its potential first-in-class Nrf2 activator, bardoxolone methyl, meets primary and secondary endpoints in a first-year interim analysis of the Phase III CARDINAL study in patients with Alport syndrome, an inherited form of chronic kidney disease (CKD).