July 13 Quick Takes: Spudich, Rutter to lead start-up Kainomyx; plus deals for Ovid-Angelini, Dewpoint-Merck and Kiadis- Sanofi
Spudich, Rutter to lead start-up focused on parasitic diseases
Kainomyx Inc. emerged from stealth Monday to discover and develop small molecules to treat malaria and other parasitic diseases. Co-founded in September by President and CEO James Spudich and Annamma Spudich, the company raised $7.5 million from Chiron Corp. co-founder and Kainomyx Chairman William Rutter, Open Philanthropy and the Spudiches. Cytokinetics Inc. (NASDAQ:CYTK), which is incubating the newco, will contribute selective inhibitors of an undisclosed parasitic cytoskeletal protein and receive an undisclosed equity stake and single-digit royalties. James Spudich is a co-founder of Cytokinetics and MyoKardia Inc. (NASDAQ:MYOK) and former chair of the Department of Biochemistry at Stanford University School of Medicine.
Ovid out-licenses European rights to Angelman therapy
Ovid Therapeutics Inc. (NASDAQ:OVID) granted Angelini Pharma S.p.A. exclusive rights to gaboxadol (OV101) to treat Angelman syndrome in the EU, Switzerland, Turkey, the U.K. and Russia. Ovid will receive $20 million up front plus up to $212.5 million in milestones and double-digit royalties from Angelini Pharma Rare Diseases AG, Angelini’s new affiliate company executing the deal...