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AI drug discovery biotech AbCellera eyes record IPO

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AbCellera Biologics has been in the spotlight since coming up with Eli Lilly’s COVID-19 antibody drug bamlanivimab, and looks set to capitalise on that exposure with a sizeable initial public offering. The drug is also being tested in other trials, including a phase 3 study looking at its role in prevention of SARS-CoV-2 infection.

Drugs 111
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Lilly adds to pain pipeline with Asahi Kasei licensing deal

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US drugmaker Eli Lilly – still waiting for an FDA decision on one non-opioid pain drug – has just added another to its pipeline via a licensing agreement with Japan’s Asahi Kasei worth up to $410 million. While tanezumab is an antibody and has to be delivered by subcutaneous injection, AK1780 is orally bioavailable.

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BioArctic left in the cold as AbbVie abandons Parkinson’s pact

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One of the leading companies in the bid to bring a new class of alpha-synuclein targeting drugs to market for Parkinson’s disease – AbbVie – is ducking out of the challenge. AZ/Takeda are meanwhile running phase 2 trials of their MEDI 1342 antibody candidate. Interest in the target has also prompted a flurry of licensing deals.

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Novartis taps immuno-oncology partner BeiGene for TIGIT drug

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Novartis has joined the ranks of big pharma companies developing TIGIT-targeted drugs for cancer, and found its candidate in an existing partner, Chinese biotech BeiGene. Pharma companies are looking at whether blocking TIGIT as well as PD-1/PD-L1 can improve the efficacy of cancer immunotherapy.

Drugs 98
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Little Summit Therapeutics spends big bucks to rebuild pipeline

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$500 million upfront and a total deal value of up to $5 billion sounds like a deal made by a top-tier pharma company – but in fact it comes from diminutive biotech Summit Therapeutics.

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Lilly revives ImmunoGen ADC pact with new $1.7bn deal

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ImmunoGenAlmost four years after backing out of an antibody-drug conjugate (ADC) alliance with ImmunoGen, Eli Lilly has come back to the table with a new, wide-ranging deal worth up to $1.7 Lilly is thought to be the first pharma company to sign up to use the new camptothecin payload platform.

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Ambrx tries another IPO as it chases down HER2 rivals

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California biotech Ambrx Biopharma is hoping to raise $126 million from a listing on the New York Stock Exchange (NYSE) that will be used in part to fund clinical development of ARX-788, its HER2-targeting antibody drug conjugate (ADC). billion upfront, when it licensed the ADC from Daiichi Sankyo in 2019.