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April 7, 2016updated 02 Dec 2021 5:21am

Deals this week: Cutis Pharma, Sorrento Therapeutics, Yinnan Baiyao Group

Cutis Pharma has entered a joint development agreement with Dr Reddy’s Laboratories for the supply of active pharmaceutical ingredients (API).

Dr.reddys laboratories

Cutis Pharma has entered a joint development agreement with Dr Reddy’s Laboratories for the supply of active pharmaceutical ingredients (API).

The partnership enables Cutis Pharma to develop worldwide commercialisation of select products in its R&D portfolio and accelerate NDA filing and FDA approval of RM-02, RM-03 and RM-06.

Sorrento Therapeutics has revealed the placement of 27,027,027 of its shares and warrants to purchase common stock at a price of $5.55 per share to raise gross proceeds of approximately $150m. The offering is being led by Ally Bridge Group and will be subscribed to by institutional investors and Yuhan Corporation.

The process is expected to be complete by the end of May. The company plans to use proceeds to develop its product pipeline and for general corporate purposes.

Yunnan Baiyao Group has announced the public offering of bonds worth $138.5m due 2021. The company intends to use the gross proceeds for additional capital purposes.

Entasis Therapeutics has raised $50m in a series B financing round. The financing was led by Clarus Ventures, along with Frazier Helathcare partners, Novo A/S and Eventide Asset Management.

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Proceeds will be used to advance its pipeline of clinical and preclinical anti-infective products.


Image: Cutis Pharma has entered into joint development agreement with Dr. Reddy’s Laboratories. Photo:courtesy: Arichuvadi.

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