Plus, news about Booster Therapeutics, Century Therapeutics and Holobiome:
Ono Pharmaceutical’s ADC deal: The Japanese drugmaker will pay up to $700 million to LigaChem Biosciences to develop, produce and commercialize a preclinical antibody-drug conjugate called LCB97 in solid tumors. — Jaimy Lee
Leo Pharma confirms layoffs: The company is ending and relocating hundreds of roles, which could affect up to 250 employees this year. The majority of the affected employees are based in Denmark and “span across all business areas,” according to a statement from Leo. The company employs about 2,500 people. — Katherine Lewin
Booster Therapeutics launches with $15M in seed financing: The company is focused on developing small molecules that “boost the innate activity of proteasomes to restore the body’s ability to remove a wide range of disease-causing proteins.” Apollo Health Ventures and Novo Holdings led the funding round. — Katherine Lewin
Century Therapeutics reduces headcount: The Philadelphia biotech let go of a “limited number” of employees to keep “operating efficiently” as it works on iPSC-derived cell therapies for cancer and autoimmune diseases, a spokesperson said in an emailed statement. The company had 152 full-time employees as of March 1. — Kyle LaHucik
Holobiome raises $9M in oversubscribed seed round: The company believes its lead program — a next-generation probiotic — could help treat depression by “fixing” the gut microbiome. It’s also examining developing therapies therapies for stress and pain. — Katherine Lewin