Legend Biotech - Company Updates, Aug 12, 2024
Legend Biotech reported a significant revenue increase to $187 million in Q2, driven primarily by sales of its CAR-T therapy, Carvykti. The company's loss narrowed considerably to $18 million, down from $199 million a year earlier. CEO Huang Ying highlighted the growing momentum for Carvykti and plans to begin commercial production at their Belgian facility later this year to meet rising demand.
Full Article: Legend Biotech's Revenue Doubles on Big Gains for CAR-T Treatment
Halda Therapeutics - Series B Investment, Aug 12, 2024
Halda Therapeutics, a startup using innovative cancer-fighting technology developed by Craig Crews, has raised $126 million in a Series B round extension, bringing its total funding to $202 million. The funds will advance the company's RIPTAC technology, which uses dual-acting small molecules to kill tumor cells, into human trials for prostate and breast cancers. Halda plans to begin clinical testing of its prostate cancer drug HLD-0915 in 2025, targeting patients resistant to current treatments. New investors participated in the round, and four new members will join the company's board of directors.
Full Article: Halda Raises $126M Series B for RIPTAC Prostate Cancer Treatment
4baseCare - Series A Investment, Aug 12, 2024
Indian precision oncology firm 4baseCare has raised $6 million in Series A funding, led by Yali Capital and other investors. The Bangalore-based company plans to use the funds to enhance its products, scale up operations across India, and establish genomics labs in the Philippines, Nepal, and Dubai. 4baseCare, a member of Illumina's accelerator program, also aims to develop genomics and digital health solutions for early cancer detection and targeted therapies. The company recently added former Illumina CEO Francis deSouza to its advisory board.
Full Article: 4baseCare Raises $6M in Series A Round
Third Arc Bio - Series A Investment, Aug 12, 2024
Third Arc Bio raised $165 million in an oversubscribed Series A round to advance its antibody therapies targeting oncology and autoimmunity, with clinical studies set for early 2025. Founded in 2022 with Omega Funds' seed financing, the round was led by Vida Ventures, Cormorant Asset Management, and Hillhouse Investment. CEO Peter Lebowitz emphasized the company's strong potential to deliver best-in-class therapies.
Full Article: Third Arc Bio Launches with $165M Series A Financing
Boundless Bio - Company Downsizing, Aug 13, 2024
Boundless Bio, a San Diego-based clinical-stage oncology company, has announced a modest workforce reduction to extend its operating runway into Q4 2026. The layoffs are part of broader efforts to scale back early discovery activities, despite advancing its lead ecDNA-directed therapy, BBI-355, and securing approval for its ecDNA diagnostic, ECHO, in clinical trials. The company recently went public, generating approximately $87.7 million in net proceeds, and aims to focus on core programs while addressing slower-than-expected patient enrollment in ongoing trials.
Full Article: Boundless Bio Announces Modest Reduction to San Diego Workforce
Genprex - Positive Trial Data, Aug 14, 2024
Genprex, Inc., a clinical-stage gene therapy company, announced promising updates from its Acclaim-1 and Acclaim-3 trials, which are testing its lead drug candidate, Reqorsa (quaratusugene ozeplasmid) Gene Therapy, for non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC). Notably, two patients in Acclaim-1 experienced prolonged progression-free survival, and the first patient treated in Acclaim-3 achieved partial remission. The company is optimistic about these early results, highlighting Reqorsa’s potential to address significant unmet needs in treating difficult lung cancer cases.
Full Article: Genprex Announces Positive Clinical Study Updates
Bicara Therapeutics - Executive Changes, Aug 15, 2024
Bicara Therapeutics appointed Mike Powell, Ph.D., as chairman and Christopher Bowden, M.D., as an independent director to its board. Dr. Powell brings experience from Omega Funds and Genentech, while Dr. Bowden adds expertise from Remix Therapeutics and Agios Pharmaceuticals. Their leadership will guide the late-stage development of Bicara’s lead therapy, ficerafusp alfa (BCA101), targeting several cancers.
Full Article: Bicara Therapeutics Expands Board of Directors
TransCode Therapeutics - Clinical Trial Updates, Aug 15, 2024
TransCode Therapeutics has initiated a Phase 1 clinical trial for its lead RNA-based therapeutic, TTX-MC138, aimed at treating metastatic solid cancers. Two trial sites are currently active, with patient enrollment expected this quarter. The trial includes a dose-escalation phase to assess safety and tolerability, followed by a dose-expansion phase to further evaluate the therapy’s safety and anti-tumor activity in selected tumor types. TransCode plans to activate up to five trial sites this quarter, reflecting strong interest from leading oncologists.
Full Article: TransCode Therapeutics Announces Phase 1 Clinical Trial Initiation
ArriVent - Collaboration, Aug 15, 2024
ArriVent BioPharma has licensed an antibody-drug conjugate (ADC) from Aarvik Therapeutics, following a $100 million deal made in 2021. Aarvik developed the drug through preclinical stages, with ArriVent taking over for human trials. The payment details remain undisclosed, but Aarvik could earn up to $100 million, plus royalties. ArriVent recently raised $175 million in an IPO, focusing on bringing China-developed drugs to Western markets.
Full Article: ArriVent Licenses ADC in $100M Deal with Aarvik
HistoSonics - Series D Investment, Aug 15, 2024
After receiving FDA clearance for its ultrasound-powered liver cancer treatment last fall, HistoSonics has raised $102 million to expand its commercial efforts. The company's Edison system uses focused sound waves to liquefy and destroy tumors while sparing surrounding tissue. The Series D round, led by Alpha Wave Ventures, will support the company's core technology, collaboration with researchers, and the launch of a master study on liver cancer. HistoSonics has already begun treating patients with liver and kidney cancers at leading U.S. medical centers.
Full Article: HistoSonics Nets $102M to Boost Sound Beam-Powered Liver Cancer Therapy
