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Hengrui, Affiliate Reistone In Apparent Dispute Over China Ivarmacitinib NDAs
The future fate of Jiangsu Hengrui’s new drug discovery and development subsidiary may provide some tips on what’s ahead for the Chinese biopharma sector.

Ex-Novartis John Tsai Takes The Reins At Cardiovascular-Focused Forcefield Therapeutics
The ex-chief medical officer at Novartis is now CEO at the UK-based biotech, which he he told Scrip could have a ‘transformational’ therapy to protect patients after a heart attack.

Genentech Joins Hunt For ‘Molecular Glue’ Drugs With Orionis
Genentech is broadening its stake in the protein degradation field, following BMS and Merck & Co into molecular glue drugs.

Finance Watch: ReCode’s Series B Mega-Round Grows Again With $50m Boost
Private Company Edition: ReCode’s series B venture capital round grew for a third time, now totaling $260m for precision genetic medicines. Also, DalCor closed an $80m series D, manufacturer Nephron amassed $350m, Hyku launched with a $56m seed financing and Magnet emerged with $50m.

BioAge Looks To Tackle Diseases Of Aging, Starting With Muscle Loss
Emerging Company Profile: BioAge has Phase Ib proof-of-concept data in age-related muscle loss and is gearing up for its first Phase II study, but will need fresh cash or a partner for a potential weight loss-related muscle loss study.

Mironid Gets Roche Backing To Tackle Hereditary Kidney Disease
These are interesting times for Mironid, a Glasgow-based biotech developing small molecule therapeutics for the treatment of autosomal dominant polycystic kidney disease, a life-threatening hereditary condition.

Finance Watch: Big Financings Show Investors Remain Interested In Certain Opportunities
A mix of mega-rounds and smaller seed financings show investment happening at both ends of the venture capital spectrum. In public company financings, Gilead prices $2bn note offering, Biogen secures $1.5bn for Reata deal, Inhibrx completes a $200m PIPE and the IPO market shows new signs of life.

With $175m, Mariana Will Take First Precision Radiopharmaceutical Into The Clinic
Mariana Oncology closed a $175m series A venture capital round to fund its first clinical trial, for MC-339 in small-cell lung cancer, as well as its manufacturing and pipeline-building activities.

Finance Watch: Genesis, Rapport, Cellares Raise Venture Capital Mega-Rounds
Private Company Edition: Genesis raised $200m, Rapport brought in $150m and Cellares closed a $255m round. Also, Ferring got $300m up front in a royalty deal, Fore Biotherapeutics raised a $75m series D and Vaxxas won a $3.67m Wellcome grant to advance a next-generation typhoid vaccine.

Abcuro Raises $155m Series B Round For Clinical-Stage T-Cell Depleter
The company’s fresh cash will fund readouts for lead drug candidate ABC008 from a pivotal Phase II/III trial in inclusion body myositis and from Phase I/II studies in two other rare indications.

Finance Watch: ADARx Raises $200m, Alltrna Garners $109m To Fund RNA Medicines
Private Company Edition: Recent venture capital mega-rounds of $100m or more include ADARx and Alltrna, which closed five days after CG Oncology brought in $105m. Also, Tisento launched with assets from Cyclerion and $81m in series A funding and Georgiamune raised a $75m series A round.

Finance Watch: Kriya Adds $150m-Plus To Series C As It Gets Closer To The Clinic
Private Company Edition: Kriya raised the first $270m of its now $430m-plus series C venture capital round in May 2022 and has raised more than $600m to date. Also, Nexo launched with $60m in series A cash, Ossium brought in $52m in series A financing and cell therapy CDMO Kincell launched with $36m.
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