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Latest From Italfarmaco S.p.A.
Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs.
Public Company Edition: As their stock prices plummet, Adagio reshuffles its research plan and names a new CEO, while Yumanity restructures and seeks strategic alternatives. Also, Bristol sells $6bn worth of notes, Amgen issues $750m green bond, and Inhibrx and Amryt amend and refinance debt.
The 2021 collaboration between Abbvie and Regenxbio to develop an anti-VEGF gene therapy for chronic retinal diseases is a noteworthy deal in the gene therapy space. But for both clinical and commercial reasons, it is a one-off opportunity and not an indicator of the overall potential of gene therapies to address eye diseases. Interest in optogenetics, however, which is the introduction of light-sensing genes into cells in the eye to restore vison, may be on the rise.
Deal Snapshot: The nearly $700m deal gives Vertex, already with a major foothold in CRISPR, access to Mammoth’s ultra-compact gene-editing technology in two diseases.
- Drug Delivery
- Other Names / Subsidiaries
- ITF Pharma SpA, CHEMI S.P.A