Oct. 5 Quick Takes: BridgeBio reacquiring Eidos, Amgen KRAS data, after-hours tumbles for Iovance, Y-mAbs and more
BridgeBio reacquiring Eidos spinout
Four years after spinning out Eidos Therapeutics Inc. (NASDAQ:EIDX), BridgeBio Pharma Inc. (NASDAQ:BBIO) will acquire the 36.3% of that company it does not already own. Eidos’ lead program acoramidis (AG-10) is in Phase III testing to treat cardiomyopathy and polyneuropathy associated with transthyretin (TTR) amyloidosis (ATTR). Eidos shareholders may receive 1.85 shares of BridgeBio stock or $73.26 in cash per Eidos share, up to a maximum of $175 million in cash. BridgeBio had attempted to reacquire Eidos in 2H19.
Hugo raises $32M series A
Hugo Biotech raised RMB218 million ($31.9 million) in a series A round led by Lapam Capital and Sinovation Ventures, with participation by new investor CD Capital and existing investor Northern Light Venture Capital. The company will use the funds to develop and commercialize its platform for NGS-based diagnosis of microbial infections. ...