Oct. 22 Quick Takes: FDA approves Genentech’s ocular implant for wet AMD

Patients with wet age-related macular degeneration will soon have a new treatment option in the form of Susvimo, a refillable ocular implant from the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY) that delivers VEGF-A inhibitor ranibizumab and can be refilled twice per year. FDA approved Susvimo on Friday based on results of the Phase III Archway trial, in which the implant led to sustained visual gains equivalent to those with monthly injections of ranibizumab, which Roche markets in the U.S. as Lucentis. The approval comes with biosimilar competition looming for Lucentis; Roche expects to launch Susvimo, which was formerly known as Port Delivery System (PDS) with ranibizumab, in the coming months.

With one immuno-oncology therapy in the clinic and another soon to reach first-in-human testing, Xilio Therapeutics Inc. (NASDAQ:XLO) raised $117.6 million in an IPO in which it sold 7.4 million shares at $16, pricing at the bottom end of its proposed range. The deal valued Xilio at $426.7 million; its shares ended their first trading day unchanged. The biotech’s anti-CTLA-4 mAb, XTX101, is in Phase I/II testing, while its IL-2 therapy XTX202 is due to begin a Phase I/II trial in 1Q22. Top shareholders include Atlas Venture, F-Prime Capital, Bain Capital, Deerfield and Takeda Ventures; underwriters are Morgan Stanley, Cowen, Guggenheim and Raymond James...