Plus, news about Daiichi Sankyo, Seagen, Lantheus, Life Molecular Imaging, Astellas Gene Therapies, Eli Lilly and Aparito:
Savara prices $100M offering: The Langhorne, PA-based biotech will secure funds from Bain Capital Life Sciences, Farallon Capital Management, Frazier Life Sciences and others days after announcing Phase 3 data for its rare lung disease drug. — Kyle LaHucik
A new biotech launches with assets from Eisai: Ensho Therapeutics, based in Morris Plains, NJ, plans to start a Phase 2 program in the first half of next year for an oral selective α4β7 inhibitor as part of a licensing deal with Eisai subsidiary EA Pharma. It will enter a category led by Takeda that includes other biotechs like Morphic and Spyre. A spokesperson told Endpoints News that Ensho is raising a Series A. It was founded by former Eisai employee Neena Bitritto-Garg, who has also been a biopharma equity researcher at global banks. Former Telavant medical chief Bittoo Kanwar will be CEO. The company didn’t disclose its funders. — Kyle LaHucik
Daiichi Sankyo gets $47M from Seagen in patent dispute: The payment comprises attorney fees and costs as well as interest after an arbitrator denied all of Seagen’s claims back in 2022. The dispute concerns a Seagen patent for certain ADC technology that was made void by the US Patent and Trademark Office earlier this year. — Ayisha Sharma
Lantheus buys Life Molecular Imaging’s radiopharma program: The Bedford, MA-based company paid $35 million upfront for global rights to Life Molecular’s “clinical-stage radiotherapeutic and radiodiagnostic pair.” The deal also includes undisclosed regulatory milestones and royalties. — Ayisha Sharma
Astellas Gene Therapies to cut 105 staffers in California: The layoffs will affect employees at the company’s office in South San Francisco, according to a WARN notice. — Ayisha Sharma
Eli Lilly buys Aparito: The pharma giant acquired the Wales-based startup that’s working to digitize clinical trials with mobile apps, devices and other tools. Its work has spanned digital endpoints, hybrid clinical trials and fully remote studies across rare diseases, long Covid and neurodegenerative diseases, among others. It was backed by Ascension Life Fund, which disclosed the deal this week. The companies didn’t disclose terms. “The acquisition is based on Lilly’s strategy to use data and analytics to enhance patient care and medicine for all,” a spokesperson said Friday in a statement. — Kyle LaHucik
GeNeuro’s Phase 2 long Covid trial disappoints: The Swiss biotech’s GNC-501 did not show a “clinically meaningful improvement compared to placebo” in the fatigue improvement primary endpoint per the PROMIS SF7a test. The company is terminating seven of nine workers, including all of its executive team, and looking for “strategic alternatives.” — Ayisha Sharma