With September officially behind us, the Investing News Network is taking a look back at some of the biggest news and trends in the life science industry throughout the month.
With September officially over, the Investing News Network (INN) is taking a look back at the what biggest news and events that hit the life science sector were throughout the month.
September had an abundance of positive news in the industry, ranging from clinical trials, mergers and acquisitions and collaborations across all verticals of life science.
Highlights of the month include ProQR’s (NASDAQ:PRQR) 120.75 percent share price increase resulting from positive clinical trial results from its QR-110 for patients with Leber’s congenital amaurosis 10 (LCA10), which is an eye disease.
Argenx (NASDAQ:ARGX) was another company that had positive trial results last month. This was from the company’s proof-of-concept trial for its rare disease drug, efgartigimoid (ARGX-113). The drug is in development as a treatment for primary immune thrombocytopenia (ITP) in adult patients. The company also announced a fourth rare disease indication for the drug, chronic inflammatory demyelinating polyneuropathy (CIDP).
Invuity’s board of directors has recommended the acquisition to its shareholders, while the directors and executive officers have entered into and support this agreement with Stryker. After the merger is completed sometime in Q4, Invuity’s shares will be delisted from the NASDAQ.
Cancer Genetics (NASDAQ:CGIX) announced it will merge with NovellusDx to expands its oncology genetic tests. The transaction is supposed to close in Q1 2019 and Cancer Genetics plans to stay listed on the NASDAQ public market.
All boards of directors from both companies involved have approved this transaction, but it is still subject to approval from both companies’ shareholders, among other conditions.
Meanwhile, Merck (NYSE:MRK) and IMV (NASDAQ:IMV,TSX:IMV) announced a collaboration to develop the lead candidate DPX-Survivac with Merck’s oncology drug, Keytruda. The two will explore five solid tumor indications in this partnership.
The trial will also evaluate the performance of three drugs, including the two mentioned above and another immunotherapy in advanced recurrent cancers among patients. IMV plans to begin the trial enrollment in Q4.
Lastly, Molecular Templates (NASDAQ:MTEM) announced it will develop a protein-based oncology therapy in a partnership with Takeda Pharmaceutical (TSE:4502), the Japanese-based Big Pharma. The news sent Molecular Templates’ share price up over 50 percent, to US$6.25 as of market close, showing dramatic investor interest in the partnership.
Both companies will work together to develop a CD38-targeted drug as a treatment for multiple myeloma. This is the same drug candidate the companies developed in a previous discovery-phase partnership.
To hear more highlights from this and other news from the month of September, watch the video above.
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Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.