August 19, 2019 - Fierce Biotech
SpringWorks Therapeutics has
to raise $115 million in an IPO. The money will take SpringWorks through to regulatory filings for two former Pfizer drugs against rare tumors. Pfizer licensed the drugs, gamma secretase inhibitor nirogacestat and MEK inhibitor mirdametinib, to SpringWorks in 2017. SpringWorks, which was conceived by Pfizer, raised $103 million from backers including Bain Capital in conjunction with the four-asset licensing deal before adding another $125 million to its coffers in April through a series B round.
August 20, 2019 - Fierce Pharma
The carcass of pain drug wheeler-dealer Insys Therapeutics is being pieced off in bankruptcy court, and Hikma Pharmaceuticals says it has picked up some of those pieces. The drugmaker has laid out $12.2 million for a couple nasal spray drugs and the equipment and know-how to manufacture them. According to Hikma, it grabbed unit-dose nasal and sublingual spray manufacturing equipment as well as pipeline products of epinephrine and naloxone nasal sprays. Naloxone is used to counter opioid overdoses. Hikma said the products were just what the doctor ordered.
August 21, 2019 - BioPharma Dive
Pfizer intends to spend $500 million expanding its gene therapy operations in North Carolina, the latest big pharma investment in the burgeoning technology. The money will go toward building a new manufacturing facility in Sanford, a small city about 50 miles outside of Raleigh, North Carolina. The facility will create about 300 jobs, according to Pfizer, and be responsible for making the recombinant adeno-associated viral vectors needed to supply clinical- and commercial-stage gene therapies. Pfizer has three gene therapies in clinical testing. One, which it got through the $150 million acquisition of Bamboo Therapeutics, targets a rare muscular disorder. The other two are partnered programs going after hemophilia.
August 21, 2019 - Fierce Pharma
Endo’s $10 million opioid deal with two Ohio counties Tuesday may have appeared small in scope to some, but could the bellwether agreement spell a sigh of relief for the industry on the whole? Investors and analysts seem to think so.
August 22, 2019 - Fierce Pharma
Neopharma, which has been buying and building plants for several years, is at it again. The United Arab Emirates-based drugmaker is buying a sterile injectables plant and drugs in Japan from India’s Lupin. Lupin
the deal today, saying that it was selling the facility and assets held through its Japanese subsidiary Kyowa. Details were few, but the plant is based in Atsugi, Japan, and does contract work as well as sell its own products. Financial terms were not disclosed.