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January 19, 2017

Deals this week: Takeda Pharmaceutical, HUYA Bioscience International, Egalet

Japanese pharmaceutical company Takeda Pharmaceutical has signed a global agreement with US-based bio-pharmaceutical company Ovid Therapeutics for clinical development and commercialisation of the former’s investigational new drug TAK-935.

Japanese pharmaceutical company Takeda Pharmaceutical has signed a global agreement with US-based bio-pharmaceutical company Ovid Therapeutics for clinical development and commercialisation of the former’s investigational new drug TAK-935.

Takeda has completed the drug's Phase 1 clinical development, a highly selective CH24H inhibitor in rare pediatric epilepsies. The drug will move into Phase Ib/IIa clinical studies in rare epileptic encephalopathies.

Chinese-based bio-pharmaceutical company HUYA Bioscience International has signed an agreement with Chinese Academy of Sciences Innovation and Investment Company (CAS Innovation) to develop and commercialise innovative biomedical discoveries made by the latter’s parent company, CAS.

HUYA and CAS Innovation will collaborate to develop novel drugs discovered by leading scientists at CAS.

US-based biotechnology company Egalet Corporation has raised net proceeds of $38.3m through second tranche of private placement of 13% senior secured notes, which has been subscribed to by institutional investors.

The company raised $40m in gross proceeds during the first tranche of private placement of similar notes in August 2016.

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The proceeds will be invested to support the commercialisation of ARYMO ER extended-release tablets, the development of Egalet-002, and for general corporate purposes.

"Caris Life Sciences will support immunotherapy clinical trial for pancreatic cancer under an agreement entered with a pancreatic research centre named Lustgarten Foundation."

ARYMO ER is an abuse-deterrent morphine, whereas Egalet-002 is an abuse-deterrent, extended-release oxycodone.

Caris Life Sciences will support immunotherapy clinical trial for pancreatic cancer under an agreement entered with a pancreatic research centre named Lustgarten Foundation.

Caris will help identify potential trial candidates and enrol them for clinical trials based on biomarker expression results. It will also facilitate communication between treating physicians and study investigators.

Both Caris Life Sciences and Lustgarten Foundation are based in the US.

US-based biotechnology company Heron Therapeutics has announced it will raise $150m in gross proceeds from an underwritten public offering of shares of its common stock.

Underwriters to the offering will be granted a 30-day option to purchase additional shares worth up to $22.5m.

The proceeds are intended to be used for general corporate purposes.

Zynerba Pharmaceuticals has announced an underwritten public offering of shares of its common stock, with underwriters being granted a 30-day option to purchase up to an additional 15% shares to cover over-allotments, if any.

Based in the US, Zynerba Pharmaceuticals is a clinical-stage pharmaceutical company.

The proceeds are intended to be used to fund the clinical development of ZYN002 and ZYN001, for research and development (R&D), and for general corporate purposes.

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