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GNA Biosolutions raises USD 13.5M; AC Immune collaborates with Penn; Jazz Pharmaceuticals acquires Cavion; Ascletis opens a new Shanghai clinical research centre

Aug 13, 2019

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GNA Biosolutions nets USD 13.5 Million in a Series C Funding

GNA Biosolutions has secured USD 13.5 Million completing its all the rounds of financing. GNA Biosolutions GmbH, a Germany-based molecular diagnostics company has been able to successfully secure IVD-CE marking of its first point-of-care (POC) molecular diagnostic platform based on its Pulse Controlled Amplification (PCA) technology. The Series C round was joined by GNA’s previous investors, SHS Gesellschaft für Beteiligungsmanagement, Robert Bosch Venture Capital, UVC Partners, Mey Capital Matrix, KfW and btov Partners. New investors GreyBird Ventures, Occident, and Wachstumsfonds Bayern also participated in the round.
The company plans to use the proceedings to produce portable, battery-operated devices—along with infectious disease assays for tuberculosis, MRSA and drug-resistant Gram-negative bacteria within a minute.

AC Immune forms a Research Collaboration with Penn to accelerate Neurodegenerative Diseases Pipeline

Swiss-based, AC Immune SA, a clinical-stage Biopharmaceutical Company today broadcasted a research partnership with researchers and scientists in the Perelman School of Medicine at the University of Pennsylvania (Penn). The collaboration is focused on reviewing and exploring the pathological mechanisms of TDP-43 misfolding and accumulation and to develop novel therapeutic and diagnostic approaches against FTLD and other neurodegenerative diseases.
TDP-43 is a transcriptional repressor DNA binding protein and represses HIV-1 transcription. In addition, this protein regulates alternate splicing of the CFTR gene. The research will exclusively revolve around pathological forms of TDP-43 in a neuron, for a better understanding of the TDP-43 pathologies.

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Jazz Pharmaceuticals Announces Acquisition of Cavion for USD 312 Million

Jazz Pharmaceuticals, a global biopharmaceutical company, acquires Cavion through a merger with a Jazz subsidiary. Under the agreement, Cavion is eligible to receive an upfront payment of USD 52.5 Million and an additional amount of USD 260 Million on successful completion of clinical trials and commercial milestones. CX-8998, a lead molecule, under Phase II evaluation in patients suffering from tremors.
Cavion, now a wholly-owned subsidiary of Jazz, develops therapies which modulate the T-type calcium channel for the treatment of chronic and rare neurological diseases. CX-8998, a lead molecule, under Phase II evaluation, placebo-controlled clinical study in patients with essential tremor. The study confirmed the continued development of CX-8998 as a potential treatment for essential tremor.
The acquisition of Cavion backs up the Jazz’s to further expand its pipeline and product portfolio to help improve the healthcare standards.

Ascletis opens a new Clinical Development Centre in Shanghai

Ascletis Pharma, a commercial-stage biotechnology company has inaugurated a new clinical development centre at the heart of Shanghai, located at Jing’an Kerry Centre near Nanjing West Road. The idea behind opening a new centre in Shanghai was to use its strategic location to attract new talent.
An innovative R&D driven company is dedicated to address unmet medical needs in the field of anti-viral, cancer and fatty liver diseases. This further will help in the expansion of R&D capability, especially in Oncology and Non-alcoholic steatohepatitis (NASH).
Currently, there is no approved therapy for the NASH treatment, yet doctors prescribe certain off-label drugs (supportive therapies) for its management. DelveInsight estimates that the Nonalcoholic Steatohepatitis market likely to experience significant annual growth over the 2017–2028 study period, as major-market sales are expected to increase by 2028. Several key pharma players including Genfit, Intercept Pharmaceuticals, Gilead Sciences, Allergan (Tobira Therapeutics), Bristol-Myers Squibb, Cirius Therapeutics, Conatus Pharmaceuticals, Galectin Therapeutics, and many others are involved in advancing the NASH therapy market.