Novartis ends BrainTransporter deal with BioArctic

Swedish biotech BioInvent plans a rights issue of approximately SEK 430 million to fund development of its anti-TNFR2 antibody BI-1808 and its other priority programs. The company also proposes to cut up to 20 positions.

Lund-based Alligator Bioscience has agreed to sell all rights and assets related to its CD40 agonist antibody mitazalimab to Biossil. The deal includes an upfront payment of USD 0.75 million, milestone payments of up to USD 108 million, and royalties on future sales.

The US Food and Drug Administration has approved Xbrane Biopharma’s Lucamzi (ranibizumab-blrz) as a biosimilar to Lucentis. The approval gives US patients a lower-cost option for treating wet age-related macular degeneration (AMD) and other serious eye conditions.

The US Food and Drug Administration (FDA) has approved a new manufacturing process for SIMLANDI, Alvotech’s biosimilar to Humira, that more than doubles drug substance output per batch at the company’s facility in Reykjavik.

Alvotech and its partner Advanz Pharma have submitted a European regulatory application for AVT29, a proposed biosimilar to the high-dose retinal disease drug Eylea 8 mg. According to the companies, it is the first known submission of its kind worldwide.

Health Canada has approved Camurus’s Oczyesa XR, a once-monthly subcutaneous octreotide depot, for maintenance treatment of adults with acromegaly who have responded to and tolerated treatment with somatostatin analogs.

Finnish clinical-stage biotech Desentum has closed an oversubscribed EUR 28 million equity round to advance its allergy vaccines.