Immunobiotic therapeutics developer Epiva Biosciences has merged with immune-microbiome company Evelo Biosciences to develop new therapeutics for cancer, autoimmune and inflammatory diseases.

According to the transaction, the newly-formed combined company will carry the name of Evelo Biosciences and establish a definitive immuno-microbiome therapeutics platform.

Flagship Ventures has financed the combined company with approximately $40m and plans for additional investments to support the rapid growth of the company.

Nichi-iko Pharmaceuticals, through its wholly-owned subsidiary Shepard Vision INC, plans to enhance its US market to commercialise the biosimilar products pipeline and increase its presence in injectables by acquiring Sagent Pharmaceuticals.

JPMorgan Securities Japan Co. is acting as financial advisor and Nishimura & Asahi, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Hyman, Phelps & McNamara P.C. are acting as legal advisors to Nichi-Iko, while Perella Weinberg Partners LP and Morgan Stanley & Co are acting as financial advisors.

Krikland & Ellis LLP is acting as legal advisors to Sagent for the transaction.

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Cell Medica limited has acquired the remaining 73% stake in Denelex Therapeutics to become a 100% stake holder in the share capital of Denelex Therapeutics.

Pursuant to the transaction, Denelex Therapeutics will be integrated with Cell Medica’s product development programme.

The acquisition enables Cell Medica to advance the development of gene-modified immune cell products for the treatment of cancer.

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