A new weight loss biotech launched with $410 million and three assets from China. Roche's Chugai penned a deal to develop multi-payload antibody-drug conjugates. Analysts weighed in on whether Legend Biotech and BeiGene could become buyout targets in 2025. And more.
1. Verdiva launches with $410M series A to fund weekly-dosed weight loss drug trials, pipeline growth
Verdiva Bio has emerged with a $410 million series A backed by Forbion, General Atlantic, RA Capital Management, Orbimed and others, plus three weight loss candidates licensed from China’s Sciwind Biosciences. The three assets include a weekly oral GLP-1 agonist that Verdiva plans to study in a phase 2 trial this year as well as two amylin agonists.
2. Roche's Chugai turns to Swiss biotech Araris for ADC deal potentially worth over $780M
Roche’s Japanese unit Chugai Pharmaceutical is teaming up with Switzerland’s Araris Biotech to develop antibody-drug conjugates. The deal includes an upfront fee and up to $780 million in potential milestone payments. Araris’ ADC platform, AraLinQTM, boasts the ability to attach more than one payload to an antibody.
3. With BIOSECURE in limbo, should BeiGene or Legend sell itself in 2025? Analysts weigh in
Recently, BeiGene and Legend Biotech have been trading at what analysts described as a BIOSECURE discount thanks to their links to China. After the bill hit a snag, analysts from Jefferies, Macquarie Capital and TD Cowen assessed the two firms’ prospects as potential buyout targets based on their commercial portfolios, pipeline assets, market valuations and buyer interest.
Johnson & Johnson’s combination of Rybrevant and its Yuhan-partnered Lazcluze helped patients live longer than AstraZeneca’s Tagrisso in first-line EGFR-mutated non-small cell lung cancer. The overall survival win from the phase 3 MARIPOSA study is important for J&J’s challenge against the AZ standard of care because Tagrisso is more tolerable.
5. In €500M deal, Merck buys Ireland vaccines plant from CDMO WuXi Biologics
WuXi Biologics has decided to sell a vaccine plant in Dundalk, Ireland, to Merck & Co. for 500 million euros ($521 million). Merck was the lone client the CDMO served at the site under a 20-year contract to produce vaccines worth $150 million per year. The facility will add 150 more workers by the end of the year, according to Irish authorities.
6. Astellas calls it quits on early-stage lymphoma CAR-T following pipeline review
Astellas has ditched an autologous CAR-T therapy coded ASP2802 for CD20-positive B-cell lymphomas. The candidate came from Astellas’ acquisition of Xyphos in 2019. An Astellas spokesperson attributed to the decision as a result of the company’s prioritization efforts, noting that the knowledge from the drug will benefit other programs.
7. Moderna gambling on China as other US companies pull back (The Wall Street Journal)
As Moderna works to bring its vaccines to China, CEO Stéphane Bancel said the company doesn’t plan to transfer its proprietary mRNA technology to China. Instead of opening another revenue source, Bancel depicted Moderna’s venture into China as a chance to “help people in China.” He acknowledged that geopolitical tension “is not helping us,” adding that the firm is “proceeding cautiously and carefully.”
8. Candid's T-cell engager shopping spree rolls on with WuXi Biologics pact worth up to $925M
Candid Therapeutics keeps expanding its T-cell engager arsenal with Chinese assets. In its latest licensing deal potentially worth up to $925 million, the San Diego biotech got a preclinical trispecific candidate from WuXi Biologics. The company is angling its pipeline at autoimmune and inflammatory diseases.
Other News of Note:
9. Avenzo licenses DualityBio’s bispecific ADC in $1B-plus biobucks deal (release)
10. Indian CDMO Anthem Biosciences files for $397M IPO amid expansion efforts
11. FDA warning letter reveals quality control, data integrity issues at Viatris plant in India
12. Lonza's Synaffix adds Boehringer to its constellation of partners with $1.3B ADC tech pact
13. Astellas, Endo issue US drug recalls over empty capsule, ingredient concerns
14. Alpha Cognition obtains Asian rights to Alzheimer’s drug Zunveyl (release)