April 20 Quick Takes: Hasten prepares for acquisitions with $315M raise
Plus: BMS, Tubulis partner and updates from BeiGene, Day One and Enveda
CBC Group and sovereign investor Mubadala Investment Co. co-led a $315 million round for Hasten Biopharmaceutic Co. Ltd., which the company will use for acquisitions and other business development. In March 2022, Hasten, which is led by CEO Summer Xia, acquired exclusive rights in mainland China to Ebrantil urapidil, Edarbi azilsartan medoxomil, Blopress candesartan cilexetil, Basen voglibose and Actos pioglitazone from Takeda Pharmaceutical Co. Ltd. (Tokyo:4502; NYSE:TAK).
Bristol Myers Squibb Co. (NYSE:BMY) has licensed exclusive rights to use tubutecan payloads and the P5 conjugation platform of Tubulis GmbH to develop next-generation antibody-drug conjugates for cancer. Tubulis, which says its platform creates “ultra-stable” ADCs with reduced systemic toxicity, will receive an upfront payment of $22.8 million and is eligible for over $1 billion in milestones, plus tiered royalties. BMS will select the antibody targets of the ADCs; Tubulis will provide the linker-payload combinations for the therapies...