Plus, news about AnaptysBio, Alzamend, AEON Biopharma and argenx:
iTeos Therapeutics’ $120M offering: The immuno-oncology company is selling about 1.1 million shares for $17.50 apiece. RA Capital Management and Boxer Capital — both existing investors — are leading the financing. iTeos added that its Phase 2 test of belrestotug plus dostarlimab in metastatic PD-L1 high non-small cell lung cancer “exceeded pre-defined efficacy criteria” at an interim assessment. Its stock $ITOS was up about 40% on Friday morning. — Jaimy Lee & Ayisha Sharma
Xbrane, STADA out-license US ranibizumab rights: Biosimilar specialist Valorum will pay a license fee of up to $45 million as well as royalties on sales, which Xbrane and STADA will share equally. Under a separate but related deal, Xbrane will supply the anti-VEGF eye drug to Valorum at a “double-digit mark-up over cost of goods sold.” — Ayisha Sharma
AnaptysBio to get $50M: The San Diego biotech is receiving the funding from Sagard Healthcare in exchange for royalties that GSK owes on global sales of Jemperli, an endometrial cancer treatment. AnaptysBio plans to use the money to continue developing its autoimmune and inflammatory disease treatments. — Kyle LaHucik
Alzamend eyes up to $25M: The Atlanta biotech, which is developing treatments for Alzheimer’s, bipolar disorder, depression and other conditions, is doing a registered direct offering and private placement. Its shares $ALZN were down about 8% Friday morning. — Kyle LaHucik
AEON Biopharma touts path forward after migraine flop: The company said it reached “preliminary alignment” on the design of a proposed Phase 3 trial of ABP-450 in patients with episodic migraine. AEON’s Phase 2 episodic migraine study missed its primary endpoint but hit key secondary endpoints. ABP-450 recently failed a separate trial in chronic migraines. — Ayisha Sharma
Argenx to seek approval of prefilled syringes: The company expects to file an application with the FDA for a prefilled version of Vyvgart Hytrulo by the end of June, CEO Tim Van Hauwermeiren said Thursday as part of argenx’s first-quarter earnings update. In June last year, the Dutch company won approval for subcutaneous Vyvgart Hytrulo, which has a more convenient administration method compared to intravenous Vyvgart. — Anna Brown