Good morning. Here is my BioBusiness update for the week with the top ten headlines I found.
My BioBusiness updates focus on fund raises, mergers, collaborations, IPOs, and key appointments across biotech, pharma, and medical devices.
Let me know if I’ve missed any important pieces of news. Have a great weekend.
Bruker has emerged as the winner of the auction for NanoString Technologies and its spatial biology assets after the company filed for Chapter 11 bankruptcy earlier this year. The successful cash bid of about $392.6 million will lift NanoString out of bankruptcy proceedings and aims to ensure customers’ access to the company’s multi-omic products through Bruker’s life science instrument catalogue.
Clinical-stage Metsera has emerged from stealth with $290 million in hand and the bold vision of ushering in the next generation of obesity and metabolic disease medicines, thinks customizable combos are the future of obesity treatments.
Sanofi’s global collaboration with IGM Biosciences has shrunk by half. The companies will now focus only on developing three IGM agonist antibodies for immunology and inflammation and shed three related oncology targets. The move follows news of two other oncology pullbacks by the pharma earlier this month.
Unfortunate news from Norway where Ultimovacs is laying off 40% of staff to survive in wake of cancer vaccine’s phase 2 fail.
Roche picks up Prenosis’ newly cleared sepsis AI tool for distribution. The startup’s ImmunoScore software will be made available to hospital labs and emergency departments through Roche’s navify Algorithm Suite. The financial details of the agreement were not disclosed.
DNA testing firm 23andMe CEO plans to take the company private, according to a Wednesday filing with the U.S. Securities and Exchange Commission. The company went public via a SPAC merger but has seen their share price drop 95%.
Waste based biosurfactants producer Amphistar BV has closed a €6m funding round led by the European Circular Bioeconomy Fund (ECBF), Qbic III and Flanders Future Tech Fund (FFTF). The infusion of €6m in new capital from ECBF, Qbic III and FFTF will empower AmphiStar to kickstart commercial biosurfactant production in collaboration with external partners
Vaccine maker Sumagen Co. Ltd has launched a cGMP manufacturing partnership with French Naobios SAS for clinical testing of Sumagen’s inactivated HIV vaccine candidate. Under the contract, Naobios SAS will provide bioprocess development and GMP production of clinical batches of a virus-based HIV vaccine candidate for Korean Canadian biotech Sumagen Co. Ltd.
Pathios Therapeutics, a biotech company focused on the development of first-in-class therapies for cancer, today announced that the company has raised €23.4 million in the first close of a Series B financing. The financing consists of a new strategic investment from Bristol Myers Squibb, as well as support from existing investors including Canaan and Brandon Capital.
Early-stage venture capital firm Canaan hires Pfizer executive, reels in $100M for biotech investing. Uwe Schoenbeck, who has more than 25 years of industry experience, is already heading up investment deals at the venture capital firm.
Newton Colmore is a specialist recruiter, dedicated to the medical devices, biotech, and life sciences markets, globally. We help our clients find the experts they need to develop novel devices, technologies, and therapeutics.
#medicaldevices #biotechnology #therapeutics #diagnostics #innovation #syntheticbiology
#acquisition #business