Nov. 16 Quick Takes: Q32 takes merger route to NASDAQ via Homology deal
Plus: SpringWorks’ neurofibromatosis program headed for NDA and updates from Astellas, Propella, BMS, Merck, Nature’s Toolbox, Apollomics and Avistone
Months after Homology Medicines Inc. (NASDAQ:FIXX) said it would explore strategic options, the company is merging with Q32 Bio Inc., with the combined company retaining Q32’s leadership and advancing its programs. Those include anti-IL-7 mAb bempikibart (ADX-914), in Phase II testing to treat atopic dermatitis and alopecia areata; and ADX-097, a fusion protein targeting C3d that is set to begin a Phase II trial for complement-mediated disorders.
A new $42 million private placement will give the combined company a cash balance of about $115 million at close; investors include OrbiMed Advisors, Atlas Venture, Abingworth, Bristol Myers Squibb Co. (NYSE:BMY), Acorn Bioventures, Osage University Partners, CU Healthcare Innovation Fund, Sanofi Ventures and Agent Capital. Homology shareholders will receive 25% of the combined company’s equity, and are eligible for a contingent value right payable upon any disposition of its assets...
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