Healthcare Roundup – Sorrento files IND for antibody nasal spray for COVID-19; EU next to reach deal for Pfizer, BioNTech vaccine

Published on: November 12, 2020
Author: Amy Liu

Sorrento files IND for antibody nasal spray for COVID-19; shares up 6%

Sorrento Therapeutics (SRNE +5.7%) has filed an Investigational New Drug (IND) application with the FDA seeking sign-off on the commencement of clinical development of an intranasal formulation of STI-2099, dubbed COVI-DROPS, a neutralizing anti-SARS-CoV-2 antibody, for the potential outpatient treatment of COVID-19.

A Phase 1 study in healthy volunteers will be first up followed by a Phase 2 trial in ambulatory COVID-19 patients with mild or moderate symptoms (STI-2099 nasal spray to be administered alone or in combination with intravenous dosing).

Chairman & CEO Dr. Henry Ji says, “We believe STI-2099 has the potential to be broadly deployable for early treatment in an outpatient setting. The intranasal route is expected to be enabled by the high potency of the antibody and is quite promising against this highly contagious respiratory pathogen. In addition, it is now understood that COVID-19 is a local and systemic disease; therefore, we believe the best course of action would be to attack this highly contagious pathogenic virus both locally and systemically.”

EU next to reach deal for Pfizer, BioNTech vaccine

The European Union had concluded negotiations to secure an experimental vaccine from Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX), shortly after it was announced to be 90% effective in preventing COVID-19.

“And tomorrow we authorise a contract for up to 300 million doses of the vaccine developed by German company BioNTech and Pfizer. This is the most promising vaccine so far.”

“Once this vaccine becomes available, our plan is to deploy it quickly, everywhere in Europe. This will be the fourth contract with a pharmaceutical company to buy vaccines. And more will come. Because we need to have a broad portfolio of vaccines based on different technologies.”

Canonic nabs approval for propagation of medical cannabis in Israel

Evogene’s (NASDAQ:EVGN) wholly owned subsidiary, Canonic has received an IMC-GAP approval from the Israel Medical Cannabis Agency for the commercial operation of its propagation farm.

This approval will allow Canonic to proceed with the execution of its commercialization plan of medical cannabis products.

Canonic’s propagation farm is designed for the propagation of cannabis seedlings from its R&D greenhouses. These seedlings are expected to be further cultivated by third-party certified medical cannabis growers.

The company intends to establish a value chain from genomics to the end-product, with certain parts of the value chain outsourced to sub-contractors.

Canonic intends to deliver its first batch of seedlings during 2021 and reach initial sales in Israel in 2022.

EVGN shares up 5% premarket.

Takeda teams up with OrigiMed in innovative medicines

Takeda Pharmaceutical (NYSE:TAK) and OrigiMed, a China-based precision medicine company have announced a strategic partnership to develop a genomic-based precision medicine platform during the 3rd China International Import Expo., which will accelerate the R&D and commercialization of innovative medicines.

Under the terms of the agreement, Takeda will bring its strength in innovative medicines development to meet Chinese patients’ unmet demand for medical service.

OrigiMed will provide its “one-stop” commercialized solution by leveraging its genomic datasets and sequencing technology.

Surgalign EPS beats by $0.04, beats on revenue

Surgalign (NASDAQ:SRGA): Q3 Non-GAAP EPS of -$0.11 beats by $0.04; GAAP EPS of -$0.36 misses by $0.21.

Revenue of $27.93M (-2.7% Y/Y) beats by $3.08M.

Biotechnology COVID-19 Life Science Medical Device Pharmaceutical