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April 21, 2016

Deals this week: ImmunoBiochem, Promethera Biosciences, Gemphire Therapeutics, Recipharm

ImmunoBiochem has announced its plans to form a partnership with Centre for Commercialization of Antibodies and Biologics (CCAB) to develop and engineer synthetic antibody technologies and advance its antibody-drug conjugate (ADC) technology platform.

Promethera Biosciences

ImmunoBiochem has announced its plans to form a partnership with Centre for Commercialization of Antibodies and Biologics (CCAB) to develop and engineer synthetic antibody technologies and advance its antibody-drug conjugate (ADC) technology platform.

The agreement enables ImmunoBiochem to develop human therapeutics antibodies against its lead cancer candidate and engineer them into ADCs.

It also further enables CCAB to grant licensing options to ImmunoBiochem for its new intellectual property to support the latter to move from proof of concept to developing ready therapeutic drugs.

Promethera Biosciences is set to advance its therapeutic pipeline for a wide range of liver diseases, including large indications through the acquisition of Cytonet’s assets in exchange of its shares.

A US facility of Cytonet in Durham, NC, will add to Promethera’s sites as a result of the transaction.

The 18-person Durham team working on liver cell therapy, cell therapy product manufacturing and liver sourcing, will join Promethera, along with a team of seven from Germany, to assist the filing of new drug submissions for Heparesc with Health Canada.

Heparesc is meant to treat inherited urea cycle defect (UCD) in newborns and young children.

"The acquisition enables Promethera to expand its management and develop its pipeline therapies."

The acquisition enables Promethera to expand its management and develop its pipeline therapies.

Gemphire Therapeutics intends to sell its common stock by the placement of shares in an initial public offering (IPO).

It has filed a registration statement with the US Securities and Exchange Commission for the same.

The company plans to use the funds for investing partly in the developmental costs of clinical trials, pre-clinical trials, manufacturing of gemcabene and also costs associated with its EOP2 meeting with the US FDA.

A portion of the proceeds will also be used for general corporate purposes, meeting working capital requirements and other costs.

Recipharm, a contract development and manufacturing organisation, has announced a shares offering, the proceeds of which will be used to fund its planned acquisition of certain businesses of Kemwell Biopharma.

The offering will raise $104.46m.


Image: The acquisition enables Promethera to expand its management and develop its pipeline therapies. Photo: courtesy of Promethera.

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