Plus, news about Y-Biologics, Navigator Medicines, Spur Therapeutics, Disc Medicine and Mereo BioPharma:
Argenx axes Covid-driven POTS program: The Dutch biotech’s efgartigimod did not meaningfully improve symptoms of post-Covid postural orthostatic tachycardia syndrome in the Phase 2 ALPHA trial. The company said it will not move forward with the program. — Ayisha Sharma
Mirum picks 20 mg dose for bile duct disease drug: Mirum Pharmaceuticals announced Monday that it was moving forward with the 20 mg twice-daily dose of its experimental drug volixibat following interim analyses of two Phase 2b studies in primary biliary cholangitis and primary sclerosing cholangitis — two bile duct diseases that result in serious liver damage. Patients received either 20 mg or 80 mg doses in the studies. — Lei Lei Wu
Korean biotech secures $20M antibody deal: Y-Biologics is selling the ex-Asia rights to its “dual antibody” drug, IMB-101, to Navigator Medicines in a deal worth up to $940 million. The drug candidate was developed by the Korean drugmaker alongside IMBiologics and HK Innoen. — Ayisha Sharma
The biotech formerly known as Freeline: The UK gene therapy company’s rebrand into Spur Therapeutics comes as its founding investor Syncona commits an additional $50 million in support. Spur also acquired SwanBio Therapeutics in a deal with undisclosed financials, adding a treatment candidate for adrenomyeloneuropathy to its pipeline. — Ayisha Sharma
Disc Medicine eyes $178M: The hematology biotech plans to raise that amount by selling 4.94 million shares at $36 apiece to Frazier Life Sciences, Logos Capital and others. — Kyle LaHucik
Mereo inks $50M offering: Frazier again participated in this financing, alongside Deerfield Management, Perceptive Advisors and others who are backing the rare disease company after presenting Phase 2 data with Ultragenyx last week. — Kyle LaHucik