New Science Ventures, BioGeneration Ventures and European VC firm Forbion to raise USD 19 million for the development of drugs for Escalier Biosciences. This financial partnership will develop the treatment for dermatologic, psoriasis and other autoimmune diseases.
Crinetics bags USD 63.5 Million for acromegaly treatment
Crinetics successfully bagged USD 63.5 million in the second round of funding to take its oral drug candidate to the injectable platform for acromegaly. The fundraising will help in further development of CRN00808. This will be more favorable to the patient to get alternative of CRN00808 for the existing drugs like Novartis’ Signifor (pasireotide) and Pfizer’s Somavert (pegvisomant).
Another Failure of Auris’ Tinnitus Drug in Phase 3
After its failure in 2016 Auris had made improvements for its second study. Changes were made in the primary endpoint & added a subgroup analysis still the trail failed. The failure of trails on tinnitus scale, AM-111 & otitis media subgroup has put Auris in penny-stock territory. However, Auris is discussing the path forward for AM-111 with regulatory affairs.
Biogen pays USD 75 Million for Pfizer’s schizophrenia drug
Biogen has purchased Pfizer’s phase 2-ready PF-04958242, a schizophrenia drug. It will invest USD 75 million for the upfront of the therapy while USD 515 million & tiered royalties will come into picture only if it gets approved.
