Recent Funding:
Eikon Therapeutics (SF) Closes $351M Series D to Advance Pivotal-Stage Oncology Pipeline
Eikon raised $350.7M in a Series D financing, bringing its total private funding to over $1.1B. Investors include Lux Capital, T. Rowe Price, and UC Investments. Lead program EIK1001, a TLR7/8 co-agonist, is in Phase III for advanced melanoma, with additional PARP1 inhibitors and androgen receptor antagonists in early-stage development.
M&A, Deals, Partnerships
Eli Lilly Acquires Organovo’s (SD) Oral FXR Agonist for IBD in $10M Deal
Lilly acquired Organovo’s FXR program, including lead candidate FXR314, an oral small molecule in Phase 2/3 for inflammatory bowel disease (IBD), for up to $50M. Organovo receives $9M upfront, $1M after 15 months, and potential milestone payments. FXR agonists have faced regulatory challenges, but FXR314 may have applications in metabolic diseases and oncology.
Takeda has renewed its partnership with BridGene to develop small molecules targeting challenging immunology and neurology conditions, with up to $770 million in potential milestones. BridGene will leverage its IMTAC platform to identify and develop small molecules, with Takeda holding exclusive commercialization rights.
IPOs:
BridgeBio Oncology (SF) to Go Public via $450M SPAC Merger with Helix Acquisition Corp.
BridgeBio Oncology, a cancer-focused spinout from BridgeBio Pharma, will merge with SPAC Helix Acquisition Corp., securing ~$450M to advance its pipeline. The company has three oncology drugs in early-stage development, including two KRAS-targeting therapies and a PI3Ka-RAS inhibitor for solid tumors.
Other Interesting News:
Pliant Therapeutics (SF) Halts Phase 2b IPF Trial Due to Safety Concerns
Pliant discontinued the Phase 2b BEACON-IPF trial for bexotegrast in idiopathic pulmonary fibrosis (IPF) after safety concerns, despite early efficacy signals. The company will analyze data to determine future plans, including potential dose-ranging Phase 2b studies in pulmonary fibrosis and non-respiratory indications.
