Catabasis reboots with takeout of Xontogeny’s Quellis; plus Merck-Artiva, Lilly-Asahi, Medigene, Xuanzhu-Combio, Bellicum
Three months after its lone asset failed in Phase III testing, Catabasis Pharmaceuticals Inc. (NASDAQ:CATB) is acquiring Xontogeny portfolio company Quellis Biosciences Inc. and recapitalizing through a $110 million PIPE led by Xontogeny affiliate Perceptive Advisors. The deal gives Catabasis QLS-215, a preclinical mAb inhibitor of plasma kallikrein to treat hereditary angioedema (HAE). CEO Jill Milne and her management team will continue to lead Catabasis, which plans to start Phase I testing of its new program in 2022. The company, whose shares gained 70% Friday to close at $4.14 with a market cap of more than $80 million, has about $150 million in cash, which it said is good for runway through 2023.
Merck teams up with Artiva for CAR-NK cells against solid tumors
Merck & Co. Inc. (NYSE:MRK) partnered with Artiva Biotherapeutics Inc. to develop up to three allogeneic CAR-NK cell therapies against solid tumor targets using the biotech’s NK cell and CAR platforms. The cancer cell therapy play will receive $30 million up front and up to $612 million per program in development and commercial milestones, plus royalties. Artiva will be responsible for development through IND-enabling studies, with Merck taking control once the programs enter the clinic...