Weekend News: Business, Finance and Innovations in Biotech and Pharma Industries (Intellia IPO, Alder Vitaeris, ACT Genomics)
These are some biotech and pharma industries coverage which happened when we were away during weekend;
Intellia Therapeutics Announced its IPO pricing
Gene editing company Intellia Therapeutics, dedicated towards development of potential therapeutics using CRISPR/Cas9 technology declared the pricing of its initial IPO (Initial Public Offering) of 6,000,000 shares of common stock at $18 per share. It also granted a 30-days option to the underwriters to purchase up to 900,000 additional shares of common stock at IPO price at underwriting discounted rate. Intellia’s common stock was 22.78% up as on May 6, 2016 on the NASDAQ global market.
Alder BioPharmaceuticals’ Clazakizumab Licenced to Vitaeris
U.S. based Alder BioPharmaceuticals licensed exclusive worldwide rights of clazakizumab-an Anti-IL-6 monoclonal antibody to a 2016 founded Canada based Vitaeris Inc. Under the agreement, Alder received an equity stake in Vitaeris and is also eligible to receive royalties and additional payments. Randall C. Schatzman, President and CEO of Alder joined Vitaeris’ board of directors. All the financial and transaction details are undisclosed.
“As a best-in-class anti-IL-6 monoclonal antibody, clazakizumab holds significant potential as a treatment for inflammatory diseases, and we will leverage the robust clinical trial data in hand to chart its development path,” said Noel Hall, co-founder and chairman of Vitaeris.” The inhibition of IL-6 with clazakizumab is a promising anti-inflammatory mechanism that could result in new therapeutic options. We are pleased to welcome Dr. Randall Schatzman, president and chief executive officer of Alder, and Dr. Andreas Wicki, chief executive officer of founding investor HBM Healthcare Investments AG, to Vitaeris’ board of directors.”
US$ 12.5 Million Series B Funding for ACT Genomics
Taiwan headquartered ACT Genomics, a cancer molecular information service company raised US$12.5 million in series B funding. Apart from the participation of the existing investors- Eminent II VC, Hua Nan Venture Capital, President International Development and UMC Capital, other participants like Hotung Group, and CDIB Capital Management also led the round.
ACT Genomics has a wide domain of clinical service. It supports expansion of targeted therapy treatment options, prediction of response to immune-checkpoint inhibitors and utilization of ctDNA based assay for monitoring tumor burden and resistant markers, in their CAP-accredited NGS laboratory. With this series B earning ACT genomics plans to strengthen the capacity of the company as well as its rapid growth and expansion in Japan, Taiwan, Singapore, Malaysia, Thailand and Hong kong and to enable the company to fortify its commercial channels for further global expansion.
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