Deals this week: Macrophage Pharma, Bioleaders, Corbin Therapeutics
UK-based immune-oncology company Macrophage Pharma has closed a series A equity financing round that raised £9m ($11.05m) with participation from CRT Pioneer Fund, Novo Seeds, and Aglaia Biomedical Ventures.
The funds will be invested in the pre-clinical development of the company’s lead development candidate, p38MAP kinase inhibitor. Part of the funds will also be used to advance two more discovery candidates into pre-clinical development.
In another deal, Macrophage Pharma has signed an agreement with biotechnology company, Chroma Therapeutics.
The agreement gives the former rights to the latter’s Esterase Sensitive Motif (ESM) technology platform together with therapeutic assets that are in discovery stage.
South Korean clinical-stage biopharmaceutical company Bioleaders will issue 3.3 million shares within a private placement in order to fund its operations.
Priced at ?7,000 ($5.82) a share, the issue will raise gross proceeds of ?23.1bn ($19.2m) for the company.
Canadian biotechnology company Corbin Therapeutics has spun out from venture capital firm AmorChem, resulting in the transfer of all rights to the USP15 technology to the biotechnology company.
Corbin has spun out with a seed funding of C$1m ($0.75m).
Canadian pharmaceutical company Veritas Pharma has raised C$1.1m ($0.83m) from a private placement of units, each of which include one common share and one warrant.
The placement included five million units priced at C$0.22 ($0.16) a share and was subscribed to by Marapharm Ventures.
Each warrant gives the subscriber the right to acquire one additional share, for 18 months from the date of issuance, at a price of C$0.3 ($0.22) a share.
With the aim of developing a vaccine to for malaria infection prevention, American biotechnology company GeoVax Labs has entered a research agreement with Australia’s Burnet Institute.
Malaria Plasmodium falciparum and Plasmodium vivax sequences identified by the institute will be used in conjunction with the company’s MVA-VLP vaccine platform to develop the vaccine.
US-based Merrimack Pharmaceuticals has agreed to sell its global oncology assets, including the US commercial rights for its product Onivyde (irinotecan liposome injection), as well as its current licensing agreements with Shire outside of the US and with PharmaEngine for Taiwan, to Ipsen.
Onivyde is indicated for the treatment of metastatic adenocarcinoma of the pancreas.
The French pharmaceutical company will also acquire Merrimack’s commercial and manufacturing infrastructure, and generic doxorubicin HCl liposome injection as part of the transaction.