Kodiak in $225M royalty deal with Baker Bros.
Kodiak Sciences Inc. (NASDAQ:KOD) gained $21.45 (72%) to $51.05 on Monday after selling royalty rights on global net sales of retinal vascular disease drug KSI-301 to Baker Bros. Advisors for $225 million. Baker Bros. will pay the company $100 million upon the deal’s close; the remaining $125 million is contingent upon Kodiak hitting milestones, including 50% enrollment in two pivotal clinical studies of the anti-VEGF antibody biopolymer conjugate therapy.
China's Clover raises $43M series B
Clover Biopharmaceuticals raised $43 million in a series B financing, bringing the total capital raised by the Chengdu-based cancer and autoimmune company to over $100 million since 2016. Delos Capital and Lapam Capital led the round, with participation by Betta Capital, Sichuan Health Care Industry Fund, Beijing Zhongguancun VC and Jinlong Group.
Aslan seeking cash after run-up
Aslan Pharmaceuticals Ltd. (TPEx:6497; NASDAQ:ASLN) is raising a follow-on of undisclosed size following a run-up that has lifted its share price nearly 15x to $5.20 from an intraday low of $0.35 on Nov. 14. On Monday, Aslan said its IL-13RA1 inhibitor ASLAN004 led to disease improvements among three patients in a Phase I study to treat eczema. The company also said last week that published preclinical data show its DHODH inhibitor ASLAN003 has potential to treat acute myelogenous leukemia (AML); the compound has reached Phase II testing.
Transcenta raises $80M series B
Transcenta Holding Ltd. raised $80 million in a series B round co-led by CR-CP Life Science Fund and Lilly Asia Ventures. The financing is the first round raised by the biologics company following its formation in January through the merger of Hangzhou Just Biotherapeutics Ltd. and MabSpace Biosciences Co. Ltd. (see "Hangzhou Just, MabSpace Merging").
EOC raises $71M series C
EOC Pharma Group raised about RMB500 million ($71.1 million) in a series C round to advance its cancer pipeline. The round was co-led by Tigermed, TF Capital and Yingke PE. Hanne Capital and Everest participated in the financing. EOC is a spin-off of the oncology division of Eddingpharm Inc.
Hui-Gene raises $14M series A
Gene editing and gene therapy play Hui-Gene Therapeutics raised over $14 million in a series A round led by CD Capital with participation by existing investor Sherpa Capital and new investors WuXi AppTec, Huimei Capital and Alwin Capital.
Gene therapy play ViGeneron raises series A
ViGeneron GmbH raised an undisclosed series A round led by WuXi AppTec and Sequoia Capital. The Ludwig Maximilians University of Munich spin-off is engineering adeno-associated viral vectors for delivery of ophthalmic gene therapies.
Targets: DHODH - Dihydroorotate dehydrogenase; IL-13RA1 (IL-13Ra, CD213A1) - Interleukin-13 receptor alpha 1; VEGF - Vascular endothelial growth factor