Deals this week: NantBioscience and Nantkwest, Cutis Pharma, Sorrento Therapeutics

7th April 2016 (Last Updated April 7th, 2016 18:30)

NantBioscience and Nantkwest have entered a cooperative research and development agreement (CRADA) with National Cancer Institute (NCI) and National Institute of Health (NIH) to develop cancer therapies.

National Institute of Health

NantBioscience and Nantkwest have entered a cooperative research and development agreement (CRADA) with National Cancer Institute (NCI) and National Institute of Health (NIH) to develop cancer therapies.

The agreement enables to further develop recombinant NK cells and monoclonal antibodies as monotherapies and combination cancer immunotherapies.

Cutis Pharma will supply and jointly develop active pharmaceutical ingredients (API) under an agreement signed with Dr Reddy's Laboratories.

Cutis believes the pact will help advance some of its products from research and development (R&D) phase to commercialisation, apart from helping it to expedite the new drug application (NDA) filing process and gain FDA approval of its drug candidates RM-02, RM-03 and RM-06 faster.

Sorrento Therapeutics has announced it is to to raise approximately $150m, by selling common stock at a price of $5.55 per share, through placement of more than 27 million of its shares and warrants. Being led by Ally Bridge Group, the offering is expected to be completed by the end of May 2016.

Proceeds are planned to be used partly to develop the company's product pipeline and partly for meeting general corporate expenses. The placement will be subscribed to by Yuhan Corporation and institutional investors.

Yunnan Baiyao Group is offering bonds to the public in order to meet its additional capital requirements. Due in 2012, the gross value of these bonds is worth $138.5m.

Entasis Therapeutics has raised $50m to advance its clinical and pre-clinical anti-infective product pipeline.

Led by Clarus Venture, the series B financing round also included Frazier Helathcare partners, Novo A/S and Eventide Asset Management.


Image: NantBioscience and Nantkwest have entered a cooperative research and development agreement (CRADA) with National Institute of Health (NIH). Photo: courtesy: NIH.