AZNCF - Week In Review: Structure Reports Efficacy Of Obesity Drug; Raises $476M
2024-06-09 05:15:00 ET
Summary
- Structure Therapeutics raises $476 million through an offering of its ADSs after announcing positive clinical results for its obesity drug.
- Suzhou Alphamab Oncology partners with ArriVent BioPharma to develop antibody drug conjugates, potentially receiving up to $615.5 million in milestones.
- Summit Therapeutics expands its rights to Akeso's ivonescimab and raises $200 million in a private placement.
Deals and Financings
Structure Therapeutics ( GPCR ), a San Francisco-Shanghai clinical stage company, had a busy week, announcing positive clinical results for its obesity drug and then raising $476 million via an offering of its ADSs (see story ). Structure is an AI/Structure-based company that develops small molecule versions of biologic and peptides drugs. It was co-founded in 2021 by Schrödinger ( SDGR ), an AI company based in New York that became a strategic partner of the company previously known an ShouTi. Structure's stock price jumped from $32 per ADS before the trial news and now sits at $54 per ADS, a 65% increase....
Week In Review: Structure Reports Efficacy Of Obesity Drug; Raises $476M