April 4 Quick Takes: Scorpion, Pierre Fabre enter deal for pair of EGFRs

Precision oncology company Scorpion Therapeutics Inc. will add $65 million to its balance sheet via a deal giving Pierre Fabre Group rights to preclinical EGFR-targeting therapies STX-721 and STX-241 outside the U.S., Canada and Japan. The deal includes $488 million in milestones, plus royalties. Scorpion will lead development of STX-721, and Pierre Fabre STX-241; STX-721 is due for an IND submission in 3Q, with one for STX-241 expected by mid-2024.

FDA has granted InflaRx N.V. (NASDAQ:IFRX) an emergency use authorization for anti-C5 mAb Gohibic vilobelimab to treat critically ill COVID-19 patients on invasive mechanical ventilation. In a Phase III trial, the therapy reduced all-cause mortality compared with placebo by 23.9%. InflaRx said it would discuss the path to full approval with FDA, and the biotech is hoping to gain EU approval as well. InflaRx’s shares jumped $1.72 (84%) to $3.77 on Tuesday, lifting its market cap to about $170 million...