Deals this week: Adverum Biotechnologies, BioLineRx Ltd, Zydus Cadila

11 August 2016 (Last Updated August 11th, 2016 18:30)

Adverum Biotechnologies and Editas Medicine have entered an agreement to explore the delivery of genome editing medicines to treat inherited retinal diseases.

Adverum Biotechnologies and Editas Medicine have entered an agreement to explore the delivery of genome editing medicines to treat inherited retinal diseases.

According to the agreement, Editas Medicine will pay an upfront fee of $1m to examine the next-generation adeno-associated viral (AAV) vectors to Adverum Biotechnologies. It will also further pay development and commercial milestone-based payments, as well as royalties on Editas products developed with Adverum Biotechnologies AAV vectors.

BioLineRx Ltd and University of Texas MD Anderson Cancer Centre have entered an agreement to investigate BL-8040 in combination with Keytruda as a treatment for patients with metastatic pancreatic cancer.

Zydus Cadila has acquired Indian rights of Melagain lotion from Issar Pharmaceuticals Pvt. Ltd. to strengthen its dermatological portfolio.

"Zydus Cadila has acquired Indian rights of Melagain lotion from Issar Pharmaceuticals Pvt. Ltd. to strengthen its dermatological portfolio."

The transaction enables Zydus to launch the product in other global markets and expand its presence in the key segment of the drug market.

Fibrocell Science has announced its plan to raise gross proceeds of up to $25m through the private placement of convertible promissory notes and warrants.

The company intends to invest the funds to advance the clinical and pre-clinical programmes of its product candidates and also for other general corporate purposes.

BioMarin Pharmaceutical Inc. has announced the underwritten public offering of its common stock shares.

Goldman, Sachs & Co. and BofA Merrill Lynch Asset Holding, Inc. are acting as joint book-running managers and Cooley LLP is acting as the legal advisor to the company.

The company expects to raise gross proceeds of $720m through the offering, and plans to use these for general corporate purposes, as well as expansion of its manufacturing capabilities.