Anbogen Therapeutics - Series A Investment, Jul 1, 2024
Anbogen Therapeutics has successfully closed a $7.3 million oversubscribed Series A+ round of financing, following a previous $12.5 million Series A round, bringing the total to $19.8 million. The funding, led by KGI Venture Capital, aims to advance the Phase II clinical trial of ABT-301 in combination with PD-1 inhibitors for treating microsatellite stable metastatic colorectal cancer. Previous studies have demonstrated ABT-301's synergy with immune checkpoint inhibitors in various cancer models. CEO Dr. Tsu-An Hsu expressed gratitude for the support, highlighting the critical role of this funding in progressing effective cancer treatments.
Full Article: Anbogen Therapeutics Announces Completion of Series A+ Financing to Advance ABT-301 Phase II Clinical Trial
Merck - Company Updates, Jul 1, 2024
Merck & Co., Inc. and Orion Corporation have amended their partnership, granting Merck exclusive global rights to the investigational prostate cancer drug opevesostat. Pending regulatory approval by Q3 2024, Orion could receive up to $1.63 billion in milestone payments and royalties. Opevesostat, currently in Phase 3 trials for mCRPC, will now be fully developed and commercialized by Merck, allowing Orion to focus on other projects.
Full Article: Merck Secures Exclusive Rights to Prostate Cancer Drug Opevesostat
Boehringer Ingelheim and OSE Immunotherapeutics - Clinical Trial Updates, Jul 3, 2024
Boehringer Ingelheim and OSE Immunotherapeutics SA have announced the progression of their SIRPα immuno-oncology program into the next phase of clinical development with an improved SIRPα inhibitor antibody now entering a Phase 1b study. Immuno-oncology therapies currently achieve sustained remission in only 15-20% of cancer cases. Boehringer aims to increase this through various immune-activating approaches, including SIRPα checkpoint inhibition. Boehringer will handle all further development and potential commercialization, with positive early clinical data supporting the program's advancement.
Full Article: Boehringer Ingelheim and OSE Immunotherapeutics Advance Clinical Development of SIRPα Cancer Immunology Treatment
Johnson & Johnson and Legend Biotech - Clinical Trial Updates, Jul 3, 2024
Johnson & Johnson and Legend Biotech announced interim results from the Phase III CARTITUDE-4 study, showing significant survival improvement in multiple myeloma patients treated with their CAR-T therapy, Carvykti. Although specific data was not provided, Carvykti demonstrated a "statistically significant and clinically meaningful improvement" in overall survival compared to standard therapies. Approved by the FDA in 2022 and expanded in 2024, Carvykti targets the BCMA protein on multiple myeloma cells. Full findings will be presented at an upcoming medical congress and shared with global regulators.
Full Article: J&J, Legend's Phase III Win Cements Carvykti as Earlier-Line Multiple Myeloma Treatment
Alligator Bioscience - Positive Trial Data, Jul 3, 2024
Alligator Bioscience reported strong Phase II data for its cancer immunotherapy mitazalimab in pancreatic cancer, with a 40% objective response rate and a median overall survival of 14.9 months. Recent financing of up to SEK 80 million extends their cash runway to Q1 2025, supporting Phase III preparations set to start in H1 2025. The company is actively seeking partners, bolstered by the FDA's Phase III-enabling confirmation and positive data presented at the ESMO GI 2024 Congress.
Full Article: Unprecedented Phase II Data for Alligator in Pancreatic Cancer
Apollomics - Company Downsizing, Jul 3, 2024
Apollomics is cutting executives and narrowing its clinical trial focus to extend its cash runway. CEO Guo-Liang Yu announced that co-founder Sanjeev Redkar and CMO Peony Yu will transition to consulting roles. The Phase 2 trial of vebreltinib will now only enroll patients with MET amplification. These changes, along with other cost reductions, aim to fund operations through Q3 2025. Apollomics' share price has dropped nearly 97% in the past year, closing at 19 cents recently.
Full Article: Apollomics Execs Lead Job Cuts as Cancer Biotech Ekes Out Cash
Takeda Pharmaceutical - Company Downsizing, Jul 3, 2024
Takeda Pharmaceutical has announced a second round of layoffs, bringing the total affected employees in 2024 to 861. This represents about 13.6% of their workforce in the state, primarily impacting their operations in Cambridge and Lexington. The layoffs are part of Takeda's strategy to increase organizational agility and reallocate resources, amidst efforts to strengthen their capabilities in data, digital, and technology.
Full Article: Massachusetts' Largest Biotech Company Files for Second Round of Layoffs
Roche - Failed Trial Results, Jul 4, 2024
Roche will end its SKYSCRAPER-06 lung cancer trial after tiragolumab failed to outperform Merck's Keytruda in slowing disease progression or improving survival. This follows a 2022 setback with the drug. Roche shares fell 2.3%, and analysts doubt tiragolumab's potential. Roche will reassess its tiragolumab program.
Full Article: Roche Halts Trial, Latest Setback for Lung Cancer Immunotherapy
CureVac - Company Downsizing, Jul 4, 2024 -
CureVac is restructuring to focus on mRNA projects in oncology and other high-need areas, cutting its workforce by 30%. This follows a €1.45 billion deal with GSK for COVID-19 and flu vaccines, providing financial stability until 2028. CEO Dr. Alexander Zehnder highlighted the move as necessary for innovation and long-term success.
Full Article: CureVac Restructuring Focuses on mRNA Projects
