Pfizer Channels Funds into Molecular Adhesive; Jazz and MeiraGTx Stocks Surge Following Drug Data Release
In this post, we’ll summarize updates from Pfizer, Jazz Pharmaceuticals, Akeso, and Inventiva that you may have overlooked.
Triana Biomedicines, located in Lexington, Massachusetts, has established a significant partnership with Pfizer, which has committed million to support the biotechnology company in its efforts to develop “molecular glue degraders.” Triana will focus on identifying effective degrader candidates for oncology, while Pfizer retains an exclusive option for licensing these candidates. These molecular glue degraders function by linking a protein target to cellular enzymes, which tag these proteins for degradation.— Ned Pagliarulo
Former Chairman and CEO of Vanguard, Tim Buckley, is set to join Pfizer’s board of directors. The company announced Tuesday that this appointment brings the board size to 14, with 13 independent members. Pfizer’s board is currently facing scrutiny from activist investors Starboard Value, which is engaged in discussions with the company’s executives this Wednesday.— Ned Pagliarulo
According to a recent Phase 3 study called IMforte, the use of Jazz Pharmaceuticals’ drug Zepzelca in combination with Roche’s Tecentriq surpassed the efficacy of Tecentriq alone when administered as maintenance therapy for patients with small cell lung cancer. This study indicated that Jazz’s combination therapy led to enhanced overall survival and progression-free survival rates when compared to Tecentriq alone. Jazz plans to seek expanded FDA approval for Zepzelca based on these results, as stated in a statement released on Tuesday.— Ned Pagliarulo
MeiraGTx has successfully met key objectives in a small clinical trial for its experimental gene therapy aimed at Parkinson’s disease, demonstrating safety and tolerance without any major adverse side effects. Additionally, preliminary findings regarding its effectiveness have shown promise, according to company CEO Alexandria Forbes. The results will guide discussions with regulatory authorities in the U.S., Europe, and Japan as the firm prepares to advance to a late-stage trial that aims to facilitate approval. The company’s shares rose approximately 13% by late Tuesday morning.— Jacob Bell
China’s Akeso has successfully secured 0 million through a private stock sale intended to support international clinical trials for its innovative antibody drug offerings targeting cancer and autoimmune diseases. This funding was announced Monday, following reports from partner Summit Therapeutics indicating that an Akeso-discovered drug outperformed Merck & Co.’s leading immunotherapy Keytruda in a Phase 3 trial. The latest fundraising confirms that Akeso’s market valuation has exceeded billion, with over billion in cash reserves available. — Ben Fidler
Mark Pruzanski, formerly the CEO of Intercept Pharmaceuticals, will now chair Inventiva, which has recently raised approximately 0 million in new funding. This announcement coincided with Pruzanski’s appointment on Monday as the company disclosed its ongoing Phase 3 study of the MASH medicine lanifibranor. New Enterprise Associates, BVF Partners, and Samsara BioCapital spearheaded this funding initiative, alongside multiple other investors. Inventiva stands to gain an additional 7 million through future funding rounds. — Ned Pagliarulo