AzurRz BioPharma Acquires First Wave Bio
AzurRz BioPharma, Inc., a clinical-stage biopharmaceutical company specializing in the development of targeted, non-systemic therapies for gastrointestinal (GI) diseases, announced that it has entered into a definitive agreement to acquire First Wave Bio, Inc. in a stock and cash transaction valued at $229 million. H.C. Wainwright & Co. acted as advisor to AzurRx in connection with the acquisition. Founded in 2015, First Wave Bio, Inc. is a clinical-stage biotechnology company specializing in the development of novel, gut-targeted, small molecule therapies for the treatment of auto-immune inflammatory bowel diseases (IBD) and other serious conditions. AzurRx also announced that it... Read More »
Eli Lilly Acquires Protomer Technologies
The pharma giant Eli Lilly and Company announced a new deal last week, taking full ownership of Protomer Technologies for $1 billion. Founded in 2015, Protomer engineers next-generation protein therapeutics that can sense molecular activators in the body. The company’s proprietary chemical biology-based platform enables the development of therapeutic peptides and proteins with a tunable activity that can be controlled using small molecules. Protomer has used this approach toward advancing a portfolio of therapeutic candidates, including glucose-responsive insulins that can sense sugar levels in the blood and automatically activate as needed throughout the day. Lilly previously led an... Read More »
Pear Therapeutics Goes Public
Another week, another SPAC deal. Pear Therapeutics, Inc., a leader in prescription digital therapeutics (PDTs), has announced it is merging with Thimble Point Acquisition Corp. (NASDAQ: THMA), a special purpose acquisition company managed by the Pritzker Vlock Family Office. Pear develops clinically validated software-based therapeutics to provide better outcomes for patients, smarter engagement and tracking tools for clinicians, and cost-effective solutions for payers. The combined business is expected to have a pro forma equity value of approximately $1.6 billion. The new company, Pear Holding Corp., secured a $125 million PIPE from investors including 5AM Ventures, Arboretum... Read More »
Pfizer Acquires Amplyx Pharmaceuticals
After getting its Covid-19 vaccine to market in record time, Pfizer Inc. (NYSE: PFE) is back on the acquisition trail. The pharmaceutical giant has purchased Amplyx Pharmaceuticals, Inc. for an undisclosed sum. Amplyx Pharmaceuticals is a privately-held company dedicated to the development of therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. Amplyx’s lead compound, Fosmanogepix (APX001), is a novel investigational asset under development for the treatment of invasive fungal infections. In addition to Fosmanogepix, with this acquisition, Pfizer has secured ownership of Amplyx’s early-stage pipeline that includes potential antiviral... Read More »