Deals this week: Antengene Corporation, Acer Therapeutics, Menarini

4th January 2019 (Last Updated January 4th, 2019 00:00)

Antengene Corporation has raised $120m in a series B funding round led by Boyu Capital and FountainVest.

Antengene Corporation has raised $120m in a series B funding round led by Boyu Capital and FountainVest.

The funding round also included participation from new investors Celgene Corporation, WuXi Corporate Venture Fund, and Taikang, along with previous investors Qiming Venture Partners and TF Capital.

Proceeds will go towards the development of Antengene's lead candidate ATG-008 and ATG-010 (selinexor). Funds will also be used for research and development (R&D) activities and partnerships and the commercial launch of late-stage candidates.

Antengene is a clinical-stage biopharmaceutical company based in China.

Acer Therapeutics will acquire global rights to Sanofi's investigational drug candidate osanetant after entering a partnership.

Osanetant is a tachykinin NK3 receptor antagonist.

Acer intends to develop the drug as a potential treatment for various neuroendocrine disorders.

Acer Therapeutics and Sanofi are pharmaceutical companies based in the US and France respectively.

Menarini Group’s German subsidiary Berlin Chemie has acquired the worldwide commercialisation rights to Helsinn Group’s clinical-stage drug candidate pracinostat.

"Menarini Group’s German subsidiary Berlin Chemie has acquired the worldwide commercialisation rights to Helsinn Group’s clinical-stage drug candidate pracinostat."

Menarini will be responsible for the promotion, distribution and marketing of the drug in all regions excluding the US, Canada, Japan and South America, while Helsinn will have the international development and supply rights to the drug.

Helsinn will also hold the right to co-promote pracinostat along with Menarini in the Shanghai province of China.

Menarini is a biopharmaceutical company based in Italy, while Helsinn is a Swiss pharmaceutical company.

Helix BioPharma has completed the final tranche of private placement of units priced at $1.20 each to raise C$348,000 ($255,578).

Each unit includes one common share and one common share purchase warrant, which grants the holder to buy an additional common share at $1.5 within five years of the date of issuance.

Canada-based biopharmaceutical company Helix Biopharma plans to utilise the proceeds towards working capital requirements and R&D expenditure.

InventisBio will co-develop Betta Pharma’s cancer drug candidate D-0316 after the two companies collaborated.

D-0316 is being developed as a potential treatment for EGFR-mutant non-small cell lung cancer.

The agreement will see Betta hold the commercialisation rights to the drug candidate in China.

InventisBio will receive an upfront amount and R&D milestones payments worth RMB230m ($33.4m) from Betta Pharma.

It is also eligible to receive several other milestones and royalties based on the annual sales of the drug after successful commercialisation.

Both based in China, InventisBio is a biotechnology company, while Betta Pharma is a pharmaceutical company.