Deals this week: Kazia Therapeutics, Zymeworks, CANbridge

26th October 2018 (Last Updated October 26th, 2018 00:00)

Kazia Therapeutics has signed a collaboration agreement with Dana-Farber Cancer Institute to trial GDC-0084 for the treatment of patients diagnosed with breast cancer that has spread to the brain.

Kazia Therapeutics has signed a collaboration agreement with Dana-Farber Cancer Institute to trial GDC-0084 for the treatment of patients diagnosed with breast cancer that has spread to the brain.

The drug is being developed by Kazia as a treatment for primary brain cancers such as glioblastoma multiforme. It works by targeting signalling pathways responsible for 90% of glioblastoma cases.

Kazia will conduct a Phase II trial to investigate the effects of GDC-0084 in combination with Herceptin (trastuzumab), the present standard treatment for HER2-positive breast cancer that has spread to brain.

Based in the US, Dana-Farber Cancer Institute is a teaching affiliate of Harvard Medical School, while Kazia Therapeutics is an Australian biotechnology company focused on the development of new cancer therapies.

Zymeworks and LEO Pharma have signed a licensing and research agreement to innovate and develop novel bispecific antibodies against cytokine-receptor pathways using the former’s proprietary Azymetric and EFECT platforms.

Under the agreement, Zymeworks can develop the bispecific antibodies in all other therapeutic arenas, while LEO Pharma can pursue developments in dermatology indications.

LEO Pharma will make an upfront payment of $5m to Zymeworks in addition to providing research funding. Zymeworks will also be eligible to receive milestone payments of up to $231m and $244m for the first and second therapeutic candidates, respectively.

Zymeworks will also be eligible to receive up to 20% in royalties on sales of the first candidate in the US, as well as single-digit royalties on sales in other regions. It is also entitled to receive double-digit royalties on sales of the first candidate.

"Zymeworks will be eligible to receive up to 20% in royalties on sales of the first candidate in the US."

LEO Pharma is eligible to receive royalties on any future sales of non-dermatology antibodies developed by Zymeworks.

Based in Canada, Zymeworks is a clinical-stage pharmaceutical company focussed on the development of protein therapeutics for cancer treatment, while LEO Pharma is a Danish pharmaceutical company.

CANbridge Pharmaceutical has formed a strategic partnership with WuXi Biologics for the development and commercialisation of biotherapeutics for the potential treatment of rare diseases.

The two companies expect to file an investigational new drug (IND) application in China against a rare disease in 2019 and on a global basis in future under an exclusive licensing agreement.

WuXi Biologics is eligible to receive upfront and milestone payments as well as royalties on sales for therapeutics developed under the collaboration.

Both companies are based in China.

Wize Pharma has closed its previously announced private placement to raise $4.45m.

The Israeli biopharmaceutical company issued a total of 3.1 million shares of common stock priced at $1 a share, and 1,350 newly created Series A preferred stock at $1,000 a share.

Investors have also received 4.45 million Series A warrants priced at $1.10 a share, exercisable for five years from the date of issuance, and 4.45 million Series B warrants priced at $1 a share, exercisable within 20 days from the date of issuance.

Castle Creek Pharma has raised $71.8m in funds from Fidelity Management & Research Company and Valor Equity Partners.

The company will use funds towards development of its late-stage investigational drug, diacerein ointment (CCP-020), and to expand research in rare dermatologic conditions.

Based in the US, Castle Creek is a biopharmaceutical company focused on the development of therapies against rare, serious or debilitating dermatological conditions.