Pharmaceutical Industry Roundup: Major Deals, Funding, and Therapeutic Advances

In a flurry of activity across the pharmaceutical landscape, companies are repositioning themselves, securing substantial funding, and forging new partnerships to advance innovative therapies. From strategic rebranding to breakthrough designations in gene therapy, the industry is witnessing significant developments that promise to shape the future of drug development and patient care.

Corporate Restructuring and Strategic Partnerships

I-Mab Biopharma is set to undergo a major transformation, rebranding itself as NovaBridge Biosciences and adopting a "hub-and-spoke" model. This restructuring involves the creation of drugmaking subsidiaries, with the newly formed Visara acquiring an experimental eye drug currently in Phase 2 testing in China. The company plans to pursue an initial public offering in Hong Kong as part of this strategic shift.

In the realm of autoimmune diseases, Sanofi has entered into a collaboration agreement with Chicago-based EVOQ Therapeutics. The partnership aims to discover novel drugs that induce "immune tolerance" in individuals with autoimmune conditions. Sanofi will lead development and commercialization efforts, with EVOQ potentially receiving over $500 million in upfront and milestone payments, plus royalties on future products.

Funding Boosts for Innovative Therapies

The hair loss treatment sector has seen a significant influx of capital, with Veradermics raising an impressive $140 million in a Series C round. Led by SR One and joined by notable firms such as Viking Global Investors, Invus, and Surveyor Capital, this funding will support the development of an oral version of minoxidil. Veradermics' lead program, VDPHL01, is an extended-release formulation currently undergoing mid-stage clinical trials.

In the antibody-drug conjugate (ADC) space, French drugmaker Adcytherix has secured 105 million euros ($122 million) in Series A funding. The round, led by Bpifrance with participation from Angelini Ventures and RA Capital among others, will accelerate the development of ADCs with "novel" toxic payloads for tumor targeting. Adcytherix aims to advance its lead program, ADCX-020, into clinical testing by year-end.

Advances in Gene Therapy and Oncology

Taysha Gene Therapies has regained rights to its experimental gene therapy for Rett Syndrome after Astellas Pharma declined to exercise its licensing option. Despite this setback, Taysha's therapy has secured a breakthrough therapy designation from the FDA, with pivotal testing expected to commence later this year.

In oncology, Boehringer Ingelheim has partnered with AimedBio to develop a new ADC for a "broad range" of cancers. The collaboration, which could yield up to $991 million in total payouts for AimedBio, builds upon Boehringer's ADC portfolio acquired from NBE Therapeutics in a previous billion-dollar deal.

These developments underscore the dynamic nature of the pharmaceutical industry, with companies adapting their strategies, investing in cutting-edge research, and forming strategic alliances to address unmet medical needs across various therapeutic areas.