Here is Matt Lowdon Monday morning MedTech and Biotech dealmaking news update. News comes from medical imaging, protein degraders, obesity, neurotech and more. Congratulations to everyone involved and let us know if we have missed anything.
☑️ Sanofi is making a $15 million upfront payment for the rights to Nurix Therapeutics’ NX-3911, a signal transducer and activator of transcription 6 (STAT6) degrader that could potentially treat inflammation in allergic conditions.
☑️ Bayer’s Vividion Therapeutics, Inc. secures rights to only clinical-stage covalent WRN inhibitor from partner Roche
☑️ Sir Christopher Evans, the renowned British biotech entrepreneur, is close to landing $50m (£37m) in funding for a developer of a new portfolio of cancer treatments with Ellipses Pharma
☑️ The European Investment Bank is providing €30m of financing to French biotech firm TreeFrog Therapeutics to further its work developing cell therapy to treat Parkinson’s disease and other illnesses.
☑️ Helsinki-based MedTech startup AIATELLA has secured €2 million in funding to accelerate the development and scaling of its AI-powered cardiovascular imaging technology.
☑️ Cullinan Therapeutics is paying $20 million upfront for a BCMAxCD3 bispecific T-cell engager that the biotech plans to pair with its existing CD19 candidate. In return for the ex-China rights to its new addition, called velinotamig, Cullinan has agreed to pay Genrix Bio the upfront fee followed by up to $292 million in development and regulatory milestones
☑️ Belgian micriobial fermentation specialist AmphiStar NV has partnered with US plant-based ingredient heavyweight Kensing to market its biosurfactants in the US, using locally-produced feedstocks
☑️ Lilly partners with Camurus in search of a long-lasting obesity drug. The deal, which could be worth up to $870 million overall, will give Lilly access to a delivery technology that may help extend the durability of up to four of its weight-loss medicines.
☑️ Neuralink raises $650M to help expand patient access
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