The latest from small and Emerging Pharma companies featuring Qilu, Eikon Therapeutics, Insilico, Eclipsebio, Terrain Bio, Elysium Therapeutics, and Fortitude Biosciences. 

For news on the large and mid-sized bio/pharmaceutical companies, see Global Briefs. 

* Qilu, Insilico Medicine in $120-M AI Drug Development Pact 
* Eikon Therapeutics Files IPO 
* Eclipsebio Acquires Terrain Bio 
* Elysium Therapeutics Raises $7.5 M 
* Fortitude Biosciences Launches as New Bio/Pharma Company

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Qilu, Insilico Medicine in $120 M AI Drug Development Pact  
Insilico Medicine, a clinical-stage biotechnology company using generative artificial intelligence (AI) in drug development, and Qilu Pharmaceutical Group, a Jinan, China-based bio/pharmaceutical company and its subsidiary, Shanghai Qilu Pharmaceutical Research Center, have announced a strategic partnership for innovative drug development by applying Insilico’s proprietary Pharma.AI platform to jointly develop small-molecule inhibitors, focusing on specific targets for cardiometabolic disease management, in a deal worth up to $120 million, including development and commercialization milestone payments as well as single-digit royalties based on net sales. 

Source: Insilico Medicine 

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Eikon Therapeutics Files IPO 
Eikon Therapeutics, a Millbrae, California-based late-stage clinical bio/pharmaceutical company focused on oncology, has filed an initial public offering in the US to list its shares on Nasdaq. The company’s lead product candidate, EIK1001, a toll-like receptor, 7/8 dual-agonist, is currently in a global Phase II/III registrational trial in combination with pembrolizumab for the treatment of patients with advanced melanoma. 

Source: Eikon Therapeutics 

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Eclipsebio Acquires Terrain Bio 
Eclipse Bioinnovations, a San Diego, California-based bio/pharmaceutical company focused on RNA therapeutics, has announced the acquisition of Terrain Bio, a technology company specializing in artificial intelligence/machine learning RNA design and manufacturing analytics. Terrain Bio has developed machine-learning models for RNA sequence optimization and active learning workflows, alongside an R&D-scale mRNA manufacturing platform, to connect computational design directly with experimental feedback.  

Source: Eclipse Bioinnovations 

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Elysium Therapeutics Raises $7.5 M 
Elysium Therapeutics, a Lyons, Colorado-based bio/pharmaceutical company developing treatments specifically designed to prevent and reverse overdoses, has completed a $7.5-million simple agreement for future equity (SAFE), a financing instrument that may be used by a startup company to raise capital in its seed financing rounds. Elysium intends to accelerate development of its SOOPR (Synthetic Opioid Overdose Protection and Reversal) technology designed specifically as a rescue treatment for overdoses brought on by synthetic opioids, including fentanyl and nitazenes. 

Source: Elysium Therapeutics 

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Fortitude Biosciences Launches as New Bio/Pharma Company 
Fortitude Biomedicines, a Waltham, Massachusetts-based bio/pharmaceutical company focused on antibody drug conjugates (ADCs) for treating autoimmune diseases and cancers, has launched as a company following closing of $13 million in seed financing, co-led by K2 Bio Partners, Shanghai Healthcare Angel Capital (SHAC), and Elikon Venture, with additional investment from Everjoy Fortune and Taihill Venture. Proceeds from the financing will support the company’s lead immune cell-targeting biologic program through investigational new drug enabling studies. 

Source: Fortitude Biomedicines