Biotech Briefs: Apogee Therapeutics, Kardigan, Liminatus Pharma & More
The latest from small and Emerging Pharma companies featuring Apogee Therapeutics, Kardigan, Liminatus Pharma, and Create Medicines.
For news on the large and mid-sized bio/pharmaceutical companies, see Global Briefs.
* Apogee Therapeutics, Blackstone in $1.3-Bn-Financing Pact
* Liminatus Pharma To Acquire InnocsAI for $320 M
* Kardigan Plans IPO To Advance Cardio Drug Candidates
* Create Medicines Raises $122 M To Support In Vivo CAR Therapy Pipeline
Apogee Therapeutics, Blackstone in $1.3-Bn-Financing Pact
Apogee Therapeutics, a Waltham, Massachusetts-based clinical-stage biotechnology company advancing biologics for inflammatory and immunology diseases, has entered into a strategic financing collaboration with funds managed by Blackstone Life Sciences for up to $1.3 billion to support the continued development and potential commercialization of Apogee’s zumilokibart, which is advancing to Phase III development for treating atopic dermatitis (eczema).
Apogee’s antibody programs are designed to overcome limitations of existing therapies by targeting well-established mechanisms of action and incorporating advanced antibody engineering to optimize half-life and other properties. Zumilokibart is a subcutaneous half-life extended monoclonal antibody targeting IL-13, now in Phase II development for the potential treatment of atopic dermatitis with plans to initiate Phase III trials in the second half of 2026. The drug is also being evaluated in Phase I development for treating asthma and eosinophilic esophagitis, a chronic, allergic inflammatory disease of the esophagus.
The collaboration agreement provides for up to $1.3 billion in non-dilutive total capital, including up to $800 million of synthetic royalty and up to $500 million of senior debt available at the mutual consent of Apogee and Blackstone.
Source: Apogee Therapeutics
Liminatus Pharma To Acquire InnocsAI for $320 M
Liminatus Pharma, a Cerritos, California-based bio/pharmaceutical company, has agreed to acquire InnocsAI, a bio/pharmaceutical company focused on CAR-T therapies, for $320 million.
The acquisition adds a portfolio of oncology-focused biologic and cellular therapy programs. The portfolio is centered on CAR-T and antibody-related technologies designed to address certain limitations observed in current approaches to hematologic malignancies and solid tumors, including antigen escape, tumor heterogeneity, limited T-cell persistence, tumor microenvironment-mediated suppression, and lineage-restricted target coverage.
Source: Liminatus Pharma
Kardigan Plans IPO To Advance Cardio Drug Candidates
Kardigan, a South San Francisco, California-based clinical-stage bio/pharmaceutical company developing cardiovascular drugs, is planning an initial public offering (IPO) on Nasdq. The company has not yet specified that number of shares to be offered and the share price. Kardigan was founded in August 2023 by former executives from MyoKardia, including CEO Tassos Gianakakos and Chief Scientific Officer, Bob McDowell. MyoKardia was acquired by Bristol Myers Squibb in 2020 for $13.1 billion.
Kardigan’s pipeline includes three late-stage cardiovascular drug candidates: (1) anicamtiv, an investigational oral cardiac atrial and ventricular myosin activator for the treatment of genetic dilated cardiomyopathy; (2) ataciguat, an investigational oral, once-daily soluble guanylate cyclase activator aimed at slowing the progression of calcific aortic valve stenosis in patients with moderate disease; and (3) tonlamarsen, an investigational liver-directed antisense oligonucleotide administered once-monthly via subcutaneous injection, targeting hepatic angiotensinogen or the management of blood pressure in acute severe hypertension.
Source: Kardigan Therapeutics
Create Medicines Raises $122 M To Support In Vivo CAR Therapy Pipeline
Create Medicines, a Cambridge, Massachusetts-based clinical-stage biotechnology company focused on developing in vivo chimeric antigen receptor (CAR) therapies, has raised $122 million in Series B funding to support its pipeline.
The company’s proprietary mRNA-LNP (lipid nanoparticle) platform directly engineers T cells, natural killer (NK) cells, and myeloid cells inside the body to enable scalable, repeat-dose, off-the-shelf immunotherapies. The company is advancing a pipeline of in vivo CAR therapies across autoimmune diseases and cancer. To date, the company has dosed more than 50 patients across its in vivo CAR clinical programs
Source: Create Medicines
