April 17 Quick Takes: J&J, Pipeline in deal for remyelination therapy for MS
Plus: FDA approves Gamida Cell’s omidubicel and updates from Vaxcyte, Otsuka, Lundbeck, Innoviva and more
The Janssen Pharmaceutica N.V. unit of Johnson & Johnson (NYSE:JNJ) is paying Pipeline Therapeutics Inc. $50 million up front for a global license to its clinical antagonist of muscarinic M1 receptor, PIPE-307, in development for relapsing-remitting multiple sclerosis. The pharma’s Johnson & Johnson Innovation – JJDC Inc. unit also intends to invest $25 million in the biotech, alongside another $25 million from existing investors. Pipeline is eligible for $1 billion in milestones, plus royalties. The biotech, which was formed by Versant Ventures in 2018 after successor company Inception 5 was acquired by Roche (SIX:ROG; OTCQX:RHHBY), has tested PIPE-307 in two Phase I trials in healthy individuals. The muscarinic hypothesis of remyelination originated in work at the University of California San Francisco.
Gamida Cell Ltd. (NASDAQ:GMDA) rose $0.31 (39%) to $1.12 on FDA’s approval of stem cell therapy Omisirge omidubicel-onlv to quicken the recovery of neutrophils in the body and reduce the risk of infection following stem cell transplantation. Omisirge comprises human allogeneic stem cells from umbilical cord blood that are cultured with nicotinamide. The company announced a restructuring in March to focus on Omisirge and non-engineered NK cell candidate GDA-201. Restructurings and mergers have become more frequent this year as the bear market drags on...