LucidQuest Strategic Insights (lqventures.com) >>> Gene&Cell Therapy >> Allogene's $110M offering; Apellis refinances: Plus, news about FogPharma, Artbio, Enveric, MindBio and Allozymes:
Allogene taps investors for $110M: The biotech priced a common stock offering that included mutual funds, institutional investors and healthcare specialists. Some board members and executives also took part in the financing. The Bay Area biotech now has rights in the EU and UK for the allogeneic cell therapy called cemacabtagene ansegedleucel. — Kyle LaHucik
Apellis refinances: The commercial-stage biotech received about $375 million in a credit facility from investment firm Sixth Street. About $326 million went to buy out a development liability with SFJ Pharmaceuticals, and the net proceeds were about $32 million. — Kyle LaHucik
FogPharma teams up with Artbio: The biotechs plan to co-develop 212Pb alpha radioligand therapies and will “contribute equally” across R&D and commercialization. No financials were disclosed. Both startups have raised large financing rounds in the past six months. — Kyle LaHucik
Enveric, MindBio sign term sheet partnership: Enveric is out-licensing one of its “novel psilocin prodrug” programs to MindBio. If the companies opt to sign into a “definitive agreement,” MindBio could receive up to $66.5 million in upfront and milestone payments, as well as royalties ranging from 2.5% to 10% on all future sales. — Max Gelman
Allozymes raises $15M Series A: The Singapore-based company plans to use the money to expand to Europe and find new partners in both the food and pharma industries. Allozymes said it has capabilities in enzyme screening, sorting and detection that use AI and machine learning algorithms. — Max Gelman #lucidquest #genetherapy #celltherapy
