MoonLake Takes SPAC Route To Challenge Novartis's Cosentyx
Swiss Group Secures Deal With Helix
MoonLake of Switzerland is heading to the NASDAQ armed with $230m to take its tri-specific IL17A/IL-17F nanobody sonelokimab, acquired from Merck KGaA, into the highly competitive spaces of psoriatic arthritis, ankylosing spondylitis and hidradenitis suppurativa.
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Public Company Edition: Also, Roivant and two other biopharma firms close SPAC mergers and begin trading on the Nasdaq, Spero negotiated a royalty financing worth up to $125m and Phathom secured a $200m term loan.
While Amicus will transfer the gene therapy portfolio’s R&D risk to Caritas, it retains a financial interest in many of the spinout’s programs. Pompe candidate AT-GAA accepted for FDA review.
The psoriasis market is crowded and fiercely competitive but the Belgian group's bimekizumab has bested Novartis's interleukin-17A behemoth Cosentyx in a head-to-head study. Whether UCB goes it alone or signs up a large partner with a large marketing budget remains to be seen.