Plus, news about Kezar Life Sciences and Concentra Biosciences:
Viatris, Lexicon Pharmaceuticals sign licensing deal for cardio drug: Per the agreement, Viatris will pay $25 million upfront to Lexicon in exchange for the rights to sotagliflozin in all markets outside of the US and Europe. Lexicon may also receive regulatory- and sales-based milestones and tiered royalties. The FDA last year approved the drug to reduce the risk of cardiovascular death, hospitalization for heart failure, and urgent heart failure. — Katherine Lewin
Capricor Therapeutics prices $75M public stock offering: The rare disease biotech is selling 4.4 million of its shares at $17.00 apiece. The funds are set to go toward the development and manufacturing of its investigational drugs, as well as “working capital and general corporate purposes.” Capricor’s lead candidate, deramiocel, is a cell therapy currently in Phase 3 development for the treatment of Duchenne muscular dystrophy. Earlier this month, Capricor announced positive longer-term data from the ongoing HOPE-2 trial and that it had filed for approval with the FDA. — Katherine Lewin
Kezar Life Sciences rejects Concentra’s unsolicited offer: The Bay Area biotech’s board said “no” to Kevin Tang’s Concentra Biosciences, which had offered $1.10 per share $KZR and 80% of potential asset sale proceeds to buy the company. Concentra made the offer last week after Kezar stopped a Phase 2b in lupus nephritis. On Thursday, Kezar also reiterated that it expects to have Phase 2a data in autoimmune hepatitis in the first half of next year. Kezar’s stock was down about 10% on Thursday morning. — Kyle LaHucik