Deals this week: Bayer AG, Plasticell, Sarepta Therapeutics

22 September 2016 (Last Updated September 22nd, 2016 18:30)

Bayer AG and Evotec AG have entered a multi-target research partnership agreement to develop novel treatments for chronic kidney disease in diabetic patients.

Bayer AG and Evotec AG have entered a multi-target research partnership agreement to develop novel treatments for chronic kidney disease in diabetic patients.

Pursuant to the agreement, Bayer will have all the rights to select clinical candidates and Evotec’s Cure Nephron target pipeline. It will pay approximately $15.64m to Evotec during the contract period.

Evotec will also receive pre-clinical, clinical and sales milestone payments of more than $300m.

The agreement allows Bayer to advance its research activities on a number of critical disease areas.

"Plasticell and CellSpring AG have entered an agreement to examine and validate the capability of osteogenic cell therapy and 3D cell cultures in drug screening."

Plasticell and CellSpring AG have entered an agreement to examine and validate the capability of osteogenic cell therapy and 3D cell cultures in drug screening.

According to the agreement, the two partners will be responsible for developing 3D tissue models that accurately respond to the drug treatment. These 3D models are used in pharmaceutical industry in all stages of drug discovery, to evaluate the efficacy of lead compounds.

Sarepta Therapeutics plans to raise gross proceeds of $225m through the public offering of its common stock shares.

The company will invest the funds for advancing its clinical trials, research and development (R&D), manufacturing and business activities of its products and technologies, and for other general corporate purposes.

Xencor Inc plans to raise gross proceeds of approximately $40m through the public offering of its shares.

Piper Jaffray & Co. is acting as sales agent and Cooley is acting as legal advisor for the offering.

The company intends to invest the funds for general corporate purposes and to increase its working capital.

AurKa Pharma Inc plans to develop an anti-cancer agent for clinical proof-of-concepts through the funds raised from a venture financing round, which was led by TVM Life Sciences Ventures VII (GP).