Deals of the week: Immune Design, Epizyme, Chiesi farmaceutici

12th May 2016 (Last Updated May 12th, 2016 18:30)

Immune Design has entered a clinical trial agreement with Gritstone Oncology to further develop neoantigen cancer immunotherapy.

AstraZeneca

Immune Design has entered a clinical trial agreement with Gritstone Oncology to further develop neoantigen cancer immunotherapy.

Pursuant to the agreement, both the companies will involve in the development activities by employing Immune Design's ZVexTM discovery platform and Gritstone Oncology's genomics and proteomics platform for the identification of specific tumour antigens.

The first clinical trial is expected to start in 2017, which will use both the company's neoantigen vaccine with a checkpoint inhibitor for the optimisation of immune responses and clinical efficacy of the neoantigen therapies.

Epizyme and Lymphoma Study Association (LYSA) have entered an agreement to jointly design and conduct phase Ib/II trials to evaluate the efficacy of combination of tazemetostat with rituximab, cyclophosphamide, doxorubicin, vincristine and presnisone(R-CHOP) as a treatment for patients with diffuse large B-cell lymphoma (DLBCL).

According to the agreement, the clinical trial will be sponsored by Lymphoma Academic Research Organisation (LYSARC), the operation arm of LYSA, and will be conducted at multiple sites in France.

Chiesi Farmaceutici has announced that it will acquire cardiovascular assets, namely Cleviprex (Clevidipine), Kengreal (cangrelor) and the rights to Argatroban injection from The Medicines Company (TMC).

The asset acquisition is expected to be completed by the third quarter of 2016 for a consideration of $792m, which will be paid as $260m in cash payable at closing, $480m as sales-based milestone payments, $50m in other milestone payments and up to $2m for product inventory.

The transaction allows Chiesi Framaceutici to expand its product portfolio, while TMC will use the additional capital to advance its product pipeline.

AstraZeneca has announced the pricing of public offering of eight-year fixed notes, 12-year fixed notes and five-year fixed notes at an interest rate of 0.75%, 1.25% and 0.25% respectively.

The company expects to raise gross proceeds of up to $2.51bn from these three offerings, which are being issued under a $5bn Euro Medium Term Note Programme of AstraZeneca.

"The company plans to use the funds raised for general corporate purposes and repayment of debts."

The company plans to use the funds raised for general corporate purposes and repayment of debts.

Aduro Biotech has announced that it will further develop its research, development and manufacturing of its products through the funds raised by public offering of its common stock shares.

It will also invest part of the funds in short-term, interest-bearing securities and other general corporate purposes.

The company expects to raise gross proceeds of up to $100m through the offering.


Image: AstraZeneca expects to raise gross proceeds of up to $2.51bn from public offering of notes. Photo: Courtesy of Erik031.