Deals this week: AgaMatrix, Kissei Pharmaceutical, 89Bio

2nd November 2018 (Last Updated November 2nd, 2018 00:00)

Arcadia Group is to use AgaMatrix's blood glucose monitoring (BGM) technology for diabetes products marketed under the Choice brand according to a partnership signed between the companies.

Arcadia Group is to use AgaMatrix's blood glucose monitoring (BGM) technology for diabetes products marketed under the Choice brand according to a partnership signed between the companies.

AgaMatrix’s WaveSense wireless BGM system will be sold to consumers exclusively through Amazon, through a partnership with Arcadia.

The blood glucose data acquired by the Choice blood glucose monitor will be transferred to AgaMatrix’s Diabetes Manager App, which works with Apple and Android devices, to simplify diabetes data management.

BGM technology incorporates dynamic electrochemistry and provides greater accuracy to identify and correct for common sources of interference.

Based in the US, AgaMatrix develops and manufactures diagnostic technologies for BGM, while Arcadia Group is a British retail company.

Japanese pharmaceutical company Kissei Pharmaceutical has signed an agreement with Rigel Pharmaceuticals to develop TAVALISSE (fostamatinib disodium hexahydrate) in all current and potential indications in four Asian countries.

Rigel will provide exclusive rights to Kissei for the development and commercialisation of TAVALISSE in Japan, China, Taiwan and the Republic of Korea to treat chronic immune thrombocytopenia (ITP) patients who received a previous treatment.

The company will retain the global rights to the drug under the agreement.

Kissei will make an upfront payment of $33m to Rigel, and an additional $147m upon achieving certain development and commercialisation milestones. It will also pay a transfer price in the mid to upper 20% range based on tiered net sales.

Based in the US, Rigel develops novel small molecule drugs for the treatment of immune and hematologic disorders and cancer.

"Kissei will make an upfront payment of $33m to Rigel, and an additional $147m upon achieving certain development and commercialisation milestones."

89Bio has secured $60m in a Series A financing round led by OrbiMed Israel, OrbiMed US, and Longitude Capital.

The funding round also included participation from RA Capital Management and Pontifax.

89Bio will use the funds to improve its pipeline comprising biologic and small molecule drug candidates purchased from Teva Pharmaceutical Industries.

Based in Israel, 89Bio is a biopharmaceutical company developing biologic and small molecule treatments for non-alcoholic steatohepatitis (NASH), liver and metabolic disorders.

ProQR Therapeutics has entered an agreement for the worldwide licence of the Ionis Pharmaceuticals' QR-1123 (formerly IONIS-RHO-2.5Rx).

QR-1123 is an RNA therapy being developed to treat patients with P23H autosomal dominant retinitis pigmentosa (adRP).

Ionis received an upfront payment of $2.5m from ProQR in ordinary shares, representing a 20% premium to Ionis' common stock. The licensing contract also includes milestone payments and royalties.

The Phase I/II clinical trial of the QR-1123 drug is expected to start in 2019.

Based in the Netherlands, ProQR Therapeutics develops RNA medicines for the treatment of severe genetic rare diseases. Ionis Pharmaceuticals is a US-based company involved in the discovery and development of RNA-targeted drugs for the treatment of cardiovascular, neurological, infectious and rare diseases.

Terns Pharmaceuticals has raised $80m in a Series B financing round led by Vivo Capital, Decheng Capital and OrbiMed.

Existing investor Lilly Asia Ventures also participated in the funding round.

Terns plans to use the drugs to advance the development of innovative therapeutics. The company is currently developing two lead drug candidates, TERN-101 and TERN-201.

Based in the US, Terns Pharmaceuticals discovers and develops molecularly targeted, oral, small-molecule drugs to treat liver diseases and cancer.