WUXAY - Week In Review: AriBio Sells China Rights To Alzheimer's Candidate In $770M Deal
2024-03-31 04:50:00 ET
Summary
- South Korea’s AriBio out-licensed China rights for AR1001, an Alzheimer’s disease candidate, in an agreement worth up to $770M.
- AnHeart Therapeutics, a New York-Hangzhou biopharma, will become part of Nuvation Bio (NYSE: NUVB) of New York in an all-stock deal.
- San Diego’s Avenzo Therapeutics closed a $150 million Series A-1 round to develop its lead program AVZ-021, a potentially best-in-class CDK2 selective inhibitor.
Deals and Financings
South Korea's AriBio out-licensed China rights for AR1001, an Alzheimer's disease candidate, in an agreement worth up to $770 million ($90 million upfront). The company acquiring the asset asked to remain anonymous because of the competition for Alzheimer's drugs in China. AR1001 is an oral PDE5 inhibitor and originally a South Korean candidate for erectile dysfunction. In pre-clinical studies, AR1001 inhibited neuron apoptosis and restored synaptic plasticity, according to the company, and it has also shown the ability to reduce hyperphosphorylated tau proteins in a Phase II trial....
Week In Review: AriBio Sells China Rights To Alzheimer's Candidate In $770M Deal