Deal Watch: AbbVie To Try Caraway’s Lysosomal Function Approach To Parkinson’s
Executive Summary
Akebia brings in Cyclerion’s diabetes candidate praliciguat, plus deals involving Genmab/Bolt, Auris/Trasir, Zymergen/Lodo, Bavarian Nordic/Dynavax and more.
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Merck & Co. Seeds Neuroscience Expansion With Caraway Buy
The drug maker will spend up to $610m to acquire Caraway, with a lead product candidate targeting TRPML1, a pathway implicated in a number of neurodegenerative diseases.
Finance Watch: With Limited Fundraising Options, Biotechs Restructure To Extend Cash Runways
Mereo will reduce its headcount by 40% to focus on its lead programs while NeuBase revealed a 60% workforce reduction to extend its cash runway. Also, Invivyd (formerly Adagio), Greenlight and BioMarin announced job cuts, while Otonomy and others planned strategic shifts.
Deal Watch: Innoviva To Buy The Rest Of Entasis For Enterprise Value Of $113m
Already owner of about 60% of the troubled antibiotic firm, Innoviva agrees to pay $2.20 per share for all outstanding stock in Entasis. Roche, KaliVir partner on oncolytic virus therapies.