Plus, news about Inhibikase, Bio-Thera, Richter, InnoCare and Scholar Rock:
Crinetics prices $500M offering: The San Diego biotech upsized the offering by $100 million from $400 million. The biotech last month asked the FDA to approve its oral acromegaly drug, called paltusotine. — Kyle LaHucik
Boehringer Ingelheim teams up with Circle Pharma: The German drugmaker will pay up to $607 million in a pact with the macrocycles biotech, which unveiled a $90 million Series D last month. The duo plans to work on a cyclin inhibitor to prevent cancer cells from growing. — Kyle LaHucik
Inhibikase’s $110M PIPE: The Boston and Atlanta biotech will use the money to fund a Phase 2b in pulmonary arterial hypertension, a condition that recently received a new FDA-approved treatment from Merck. — Kyle LaHucik
Bio-Thera, Richter partner on a biosimilar to Stelara: As part of the commercialization and licensing agreement, Bio-Thera will develop, manufacture and supply the copycat drug, while Richter will have exclusive rights to commercialize it in Europe, the UK and Switzerland. Bio-Thera will receive an upfront payment of $8.5 million, as well as potential development and commercial milestones up to $101.5 million. — Katherine Lewin
InnoCare’s Phase 2 study hits primary endpoint in psoriasis: The tyrosine kinase 2 inhibitor, dubbed ICP-488, showed “excellent” efficacy and safety, according to the company, with 78.6% of patients in China seeing at least a 75% improvement in their plaque psoriasis on the highest dose over a 12-week treatment period. InnoCare CEO Jasmine Cui said the Beijing-based company plans to “further accelerate” development of ICP-488. — Katherine Lewin
Scholar Rock upsized its public offering. It now aims to raise $300 million. — Jaimy Lee