The Lexington, MA-based biotech is developing a novel technology (TARIS System) enabling the continuous local delivery of therapies for bladder diseases. Lead candidate is TAR-200 for muscle invasive bladder cancer.
Savara secures $26.8M capital raise; shares up 5%
Nano cap Savara (SVRA +4.7%) is up, albeit on below-average volume, on the heels of its private capital raise with institutional investors.
It has agreed to sell ~9.6M common shares (or pre-funded warrants to purchase up to ~5.8M common shares at $1.479) plus two-year warrants to purchase up to ~32.6M common shares at $1.48 at a combined price of $1.745 (or $1.744 per pre-funded warrant + two-year warrant).
Net proceeds will fund a new clinical trial of evaluating lead drug Molgradex in patients with autoimmune pulmonary alveolar proteinosis and general corporate purposes.
Gilead’s Vosevi OK’d in China
The China National Medical Products Administration has approved Gilead Sciences’ (NASDAQ:GILD) Vosevi (sofosbuvir 400mg/velpatasvir 100mg/voxilaprevir 100mg) for the once-daily treatment of chronic hepatitis C virus (HCV) infection in adults without cirrhosis or with compensated cirrhosis who have failed prior treatment with direct-acting antiviral therapy.
There are ~10M Chinese with HCV infection.
Chi-Med’s Surufatinib nabs accelerated review in China for non-pancreatic NET
China’s National Medical Products Administration has granted Priority Review status to Hutchison China MediTech’s (NASDAQ:HCM) NDA for surufatinib for the treatment of patients with advanced non-pancreatic neuroendocrine tumors (“NET”).
Surufatinib, an oral angio-immuno kinase inhibitor, is under investigation in multiple solid tumors in China and the U.S., both as a monotherapy and in combination with immunotherapies.
Johnson & Johnson to acquire remainder of Verb Surgical
On the heels of its successful collaboration with Alphabet’s Verily Life Sciences, Johnson & Johnson (NYSE:JNJ) has agreed to acquire the remaining stake in robotics and data science venture Verb Surgical for an undisclosed sum. The transaction should close in H1 2020.
Verb was a joint venture formed between J&J unit Ethicon and Google Life Sciences in late 2015.
