Deals this week: EnBiotix, Oncolys BioPharma, ImmunoGen

16th June 2016 (Last Updated June 16th, 2016 18:30)

EnBiotix and Mayo Clinic have entered a partnership to advance the development of EPP-001, a drug candidate for the treatment of prosthetic joint infections.

Mayo Clinic

EnBiotix and Mayo Clinic have entered a partnership to advance the development of EPP-001, a drug candidate for the treatment of prosthetic joint infections.

Pursuant to the agreement, Mayo Clinical Ventures will fund the research project, which is to be conducted at Mayo Clinical and EnBiotix laboratories.

Both companies will characterise the positive or negative effects of the drug on the activation of the super antigens in prosthetic join infection (PJI) isolates of S.aureus.

Oncolys BioPharma and Graduate School of Medicine, Kyoto University, have entered a research agreement to jointly develop a new type of cancer remedy.

According to the agreement, Oncolys BioPharma and a research group led by professor Makoto Noda will investigate new compounds that activate a human gene called Reversion-inducing cysteine rich protein with Kazal motifs (RECK).

The outcomes of this research will be reported in the research articles or in the relevant conferences.

ImmunoGen has announced the private placement of convertible senior unsecured notes, due in July 2021.

The company has further announced that it plans to grant the underwriters a 30-day option to purchase additional $15m-worth notes.

The offering will be subscribed to by qualified institutional buyers and is expected to be completed on 20 June 2016.

The company expects to raise funds amounting to $100m from the offering and invest them in clinical trial and research and development (R&D) expenditures and other corporate purposes including capital expenditures and working capital.

Center Labs plans to raise gross proceeds of $96m through the private placement of its 50 million common stock shares.

"Center Labs plans to raise gross proceeds of $96m through the private placement of its 50 million common stock shares."

The company intends to use the funds to improve its financial structure and to replenish its working capital.

Advanced Proteome Therapeutics and Heidelberg Pharma have entered a co-development agreement to create and develop cancer therapeutics.

According to the agreement, both the companies will jointly develop a cancer therapeutic, which can also serve as a prototype for new generation of antibody drug conjugates (ADCs) by combining Advanced Proteome Therapeutics' proprietary site-specific protein modification technology and Heidelberg Pharma's proprietary antibody-targeted amanitin conjugates (ATAC) technology.

The partnership enables the companies to create a new generation of antibody drug conjugates (ADCs).


Image: EnBiotix and Mayo Clinic have entered a partnership to advance the development of EPP-001. Photo: Courtesy of Sabine.ritzinger.