Entries by Jules Adam

IO Biotech weighs strategic options months after FDA advises against melanoma vaccine filing

Four months after the FDA advised it against filing for approval of its lead melanoma vaccine, IO Biotech is preparing for further restructuring. The Copenhagen-based biotech said yesterday that it is exploring strategic alternatives, including a merger, asset sale, business combination, or potential liquidation, and warned that it may need to implement additional workforce reductions and cost-cutting measures as the process unfolds.

Oxford-based cancer vaccine company Infinitopes closes $35 million seed round

Infinitopes, a U.K. cancer vaccine biotech spun out of Cancer Research U.K. and the University of Oxford, has expanded its seed round to $35.1 million after a second close that added about $15.4 million to existing commitments. The financing was co-led by Octopus Ventures and new investor Amplify Bio. The company says the funds will support its upcoming first-in-human phase 1/2a VISTA trial of its lead therapeutic vaccine, ITOP1, aimed at reducing post-surgical recurrence in oesophageal cancer.

AgomAb files for U.S. IPO as fibrosis-focused pipeline moves deeper into the clinic

AgomAb Therapeutics has filed for an initial public offering (IPO) in the U.S., looking to tap public markets to fund the next stage of development for its pipeline in fibrotic and inflammatory diseases. The Antwerp-based biotech said in its filing with the U.S. Securities and Exchange Commission that it plans to list its shares on Nasdaq under the ticker AGMB.

Genmab and AbbVie’s epcoritamab fails in phase 3 lymphoma study

Last week, Genmab and AbbVie hit a setback with epcoritamab, after the bispecific T-cell-engaging antibody failed to deliver a survival benefit in a phase 3 study in relapsed or refractory diffuse large B-cell lymphoma (DLBCL). The EPCORE DLBCL-1 trial missed its primary endpoint of overall survival, the partners said on Friday. While epcoritamab did slow disease progression and performed better across several secondary measures, the survival miss overshadows the readout. 

With a €6.26M round, QLi5 doubles down on proteasome-based ADC payloads

QLi5 Therapeutics has completed a €6.26 million capital increase led by its Korean co-founder, Qurient, which has also increased its voting stake in the German biotech. The funding will be used to advance QLi5’s proteasome inhibitor(PI)-based antibody-drug conjugate (ADC) payload platform, an approach the company is presenting as a next step beyond today’s dominant ADC payload classes.

bit.bio closes a $50 million series C round after its 2025 restructuring

bit.bio has raised $50 million in a series C round led by M&G Investments to support the next phase of its human cell programming business. The Cambridge-based company develops defined human cells using its opti-ox technology, supplying reproducible cell types to researchers and drug developers for use in drug discovery.

Billionaire Mike Platt backs Engitix for the second time with a $25 million series A extension

4 years after its initial series A round, Engitix has completed a $25 million series A extension, led by Netherton Investments, which invests on behalf of billionaire hedge fund founder Mike Platt. The London-based biotech is developing therapies that target the extracellular matrix (ECM) in solid tumors and fibrosis, an area less crowded than more established drug discovery approaches.

Amgen acquires Dark Blue Therapeutics for up to $840 million

Amgen has agreed to acquire Dark Blue Therapeutics in a deal valued at up to $840 million, as the biopharmaceutical company continues to build out its early-stage oncology pipeline. The specific breakdown of the upfront payment alongside development and regulatory milestones was not disclosed in the press release.

Servier and Insilico sign an $888 million AI oncology discovery deal

On January 4, the French pharma group Servier and the AI drug discovery Insilico Medicine announced a collaboration worth up to $888 million. Insilico will receive up to $32 million from Servier for a multi-year research and development collaboration to discover and develop oncology therapies using Insilico’s artificial intelligence (AI)-driven drug discovery platform and Servier’s cancer development expertise.