Deals this week: Evotec, Recursion Pharmaceuticals, Immunicum AB, Vernalis, Fonds De Solidarite FTQ

28th April 2016 (Last Updated April 28th, 2016 18:30)

Evotec has entered a co-development agreement with Ex Scientia to tackle the challenges of complex biology by developing immune-oncology therapies.

Genzyme Corporation

Evotec has entered a co-development agreement with Ex Scientia to tackle the challenges of complex biology by developing immune-oncology therapies.

According to the agreement, Evotec will contribute for medicinal chemistry, in-vitro and in-vivo pharmacology, while Ex Scientia will initially provide its algorithmic design platform for immune oncology to discover and develop cancer-related, adenosine-targeted, bispecific small molecules.

The partnership will enable the two companies to device an immuno-oncology portfolio for bispecific small molecules.

Recursion Pharmaceuticals and Sanofi subsidiary Genzyme Corporation have entered a research agreement to further develop the treatments for genetic diseases.

According to the agreement, Recursion Pharma will screen a number of Sanofi's small molecules across its extensive genetic disease models and provide Genzyme an opportunity to develop products against new indications identified in the process.

The partnership allows Genzyme to use Recursion Pharma's drug repurposing platform to research on the new uses of Sanofi's clinical-stage molecules for varied genetic diseases.

Immunicum has announced to raise funds amounting to $13.57m by selling its 5,040,000 shares through an underwritten rights offering at a price of $2.69 a share.

The subscription period for the offering will be open from 30 May until 14 June, and will be subscribed to by Swedish and other international investors. Underwriters will also have an option to buy additional shares worth up to $2.44m to cover over-allotments, if any.

"Vernalis expects to receive gross proceeds of $57.8m from the offering."

The Swedish biopharmaceutical company plans to invest the funds for ongoing clinical trials for gastrointestinal stromal tumours (GIST), and kidney and liver cancers, as well as extend phase 2 trials in the US and planned clinical trials for melanoma.

Vernalis plans to develop a conservative, risk-adjusted, roll-out plan for Tuzistra XR by investing sufficient working capital.

The company has announced to increase the working capital through the funds raised from private placement of its 80 million shares.

Vernalis expects to receive gross proceeds of $57.8m from the offering.

Fonds De Solidarite FTQ has invested $7.5m in DalCor Pahrmaceuticals.

The former is a private equity firm and the latter is a precision treatment developer for cardiovascular diseases.

DalCor plans to use the funds to carry out phase 3 trials of dalcetrapib in patients with acute coronary syndrome.


Image: Recursion Pharmaceuticals and Genzyme Corporation have entered a research agreement to further develop treatments for genetic diseases. Photo: courtesy of Sanofi.