Deals this week: Cantabio Pharma, Roivant Sciences, Cypralis Limited

14 July 2016 (Last Updated July 14th, 2016 18:30)

Cantabio Pharmaceuticals and Purdue Research Foundation (PRF) have entered an agreement to investigate targeting of DJ-1 protein to treat Parkinson’s disease and other neurodegenerative diseases.

Purdue Research Foundation

Cantabio Pharmaceuticals and Purdue Research Foundation (PRF) have entered an agreement to investigate targeting of DJ-1 protein to treat Parkinson’s disease and other neurodegenerative diseases.

According to the agreement, the two partners will advance Cantabio Pharma’s development work on targeting DJ-1 protein small molecule pharmaceutical chaperone drug candidates at Purdue University.

The agreement enables Cantabio Pharma to further strengthen its intellectual property position within DJ-1 pharmaceutical chaperones.

Biopharmaceutical company Roivant Sciences has formed a joint venture with Plexcera Therapeutics LLC, a developer of rhAC therapy for Farber disease, to advance the treatment of the disease.

Pursuant to the agreement, the partners have formed Enzyvant Sciences Ltd, a new company focused on the development of recombinant human acid ceramidase (rhAC), an enzyme replacement therapy for the treatment of patients with Farber disease.

Cypralis Limited has announced the acquirement of Cyclophilin inhibitor assets from Scynexis INC, to strengthen its product line.

According to the agreement, Cypralis will acquire all patents, patent applications and know-how related to the portfolio, while Scynexis will receive milestone payments upon successful progression and commercialisation of Cypralis clinical candidates.

The agreement also enables Scynexis to focus its efforts and resources on its lead candidate SCY-078 for the treatment of serious fungal infections.

Protagonist Therapeutics has announced the initial public offering (IPO) of its common stock shares to raise gross proceeds of up to $75m.

"Cypralis Limited has announced the acquirement of Cyclophilin inhibitor assets from Scynexis INC, to strengthen its product line."

Leerink Partners LLC, Barclays Capital INC and BMO Capital Markets Corp. are acting as joint book runners, while Cooley LLP is acting as legal advisor to the company for the offering.

The company plans to use the proceeds partly to fund the development of PTG-100, PTG-200 and PTG-300, as well as research and discovery of additional product candidates, and partly to increase working capital and other corporate purposes.

Sienna Biopharma has raised funds amounting to $12m in a series A financing round led by existing investors ARCH Venture Partners, PL and Partner Fund Management and a new investor, Two River Holding LLC, along with VenVest Capital and several prominent aesthetics and medical dermatology industry luminaries.

The company plans to invest the funds to advance its business development and pharmaceutical research.

                                                                                                                                                                            

Image: Cantabio Pharmaceuticals and Purdue Research Foundation (PRF) have entered an agreement. Photo: Courtesy of Purdue Research Foundation.