Plus, news about IN8bio, Rezolute, BeiGene and NewBridge:
Takeda, Ascentage ink option deal: The deal involves a compound called olverembatinib, which Takeda described as an oral BCR-ABL TKI inhibitor designed to treat chronic myeloid leukemia and other hematological cancers. If the option is exercised, Ascentage will get $100 million and be eligible for additional milestone and royalty payments. — Max Gelman
Enveda nabs $55 million in “Series B2”: The private company will put the cash toward “multiple” clinical trials. Enveda’s three lead programs are expected to enter Phase 1 studies later this year or in early 2025. In total, Enveda has now raised $230 million. — Max Gelman
IN8bio touts early cancer data: All ten leukemia patients treated with the biotech’s INB-100 gamma-delta T cells in an investigator-sponsored Phase 1 trial achieved complete remission through one year. IN8bio said it will discuss potential registrational development plans with the FDA this summer. The company’s stock $INAB was down 25% at market open Friday. — Ayisha Sharma
Rezolute seeks $60 million raise: The rare disease company didn’t say how the money would be used, but its lead program, RZ358, is in Phase 3 development for congenital hyperinsulinism and tumor hyperinsulinism. Rezolute is also working on a program for diabetic macular edema. — Max Gelman
BeiGene, NewBridge end MENA Brukinsa partnership: The companies mutually agreed to call off their deal. They have been working together since 2020 to bring the cancer drug Brukinsa to countries in the Middle East and North Africa. Ties will be fully separated by March 31, 2025, and BeiGene will take over sole responsibility. — Max Gelman