Sichuan Biokin Pharmaceutical Co., Ltd.

Financing supports advancement of lead programs LTX-002 and LTX-001 to first-in-human trials WORCESTER, Mass., Oct. 30, 2024 /PRNewswire/ -- Leal Therapeutics, Inc., a biotechnology company developing novel therapeutics for patients with disorders of the central nervous system (CNS), today announced a $45 million financing. The round was led by Newpath Partners, with additional new investors Chugai Venture Fund and Alexandria Venture Investments, in addition to existing investors OrbiMed, Euclidean Capital and PhiFund. This latest financing round follows a previously disclosed $39 million financing. The proceeds will be used to advance Leal's pipeline of antisense oligonucleotide (ASO) and small molecule therapeutics for patients with CNS disorders. Leal's lead programs are LTX-002, an ASO for patients with genetic or sporadic amyotrophic lateral sclerosis (ALS), and LTX-001, a small molecule for patients with schizophrenia. The company plans to submit Investigational New Drug (IND) applications for LTX-002 and LTX-001 by the end of 2024 and commence first-in-human clinical trials in early 2025. Both programs address novel and well-characterized metabolic pathway targets that are dysregulated in disease states. "We are pleased to have the support from this leading group of both new and existing investors that share our vision for better therapeutics for people with neurodegenerative or neuropsychiatric disorders," said Asa Abeliovich, M.D., Ph.D., founder and chief executive officer of Leal. "This investment allows us to progress our lead programs in ALS and schizophrenia towards the clinic while also continuing our earlier-stage pipeline and platform development." In connection with the financing, Thomas Cahill, M.D., Ph.D., founder and managing partner of Newpath Partners, joined Leal's board of directors. Dr. Cahill said, "We are excited to support Leal as they progress their lead programs in ALS and schizophrenia, two CNS disorders with major unmet medical needs, towards the clinic." "We look forward to supporting this world-class team with deep expertise and proven track record in CNS therapeutics," said John Gustofson, head of Chugai Venture Fund. "Together with this strong syndicate, we are excited to help advance what we believe could be life-changing treatments for patients and their families." About Leal Therapeutics: Leal Therapeutics is a biotechnology company dedicated to developing novel precision medicines for patients with high-need central nervous system disorders. Leal was launched in 2021 and is headquartered in Worcester, Mass. About Newpath Partners: Newpath Partners is a life science and biotechnology venture firm dedicated to excellent science and to forming partnerships based on trust and a shared vision. Newpath is focused on creating companies that pioneer transformative therapeutics to mitigate suffering and death from disease. To learn more, visit . About Chugai Venture Fund: Chugai Venture Fund is a pioneering investment firm focused on fostering innovation and driving transformative advances in the life sciences industry. As a subsidiary of Chugai Pharmaceutical Co., Ltd., we leverage our parent company's extensive expertise and global presence to identify promising start-ups and cutting-edge technologies. Our mission is to help entrepreneurs and visionary teams realize their breakthrough ideas and ultimately contribute to the betterment of healthcare and society. By providing strategic funding, mentorship and access to resources, we aim to create a collaborative ecosystem that accelerates the development and commercialization of breakthrough therapies and medical solutions. To learn more, please visit . SOURCE Leal Therapeutics, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED

Plus, news about Zai Lab, Spero Therapeutics and EyePoint Pharmaceuticals: Leal Therapeutics raises $45M: The biotech, which emerged from stealth earlier this year, said the financing was led by Newpath Partners. Other investors included Chugai Venture Fund and OrbiMed. It’s developing CNS treatments, with plans to file INDs for two therapies by the end of this year. — Jaimy Lee SynOx raises $17M in Series B extension: The UK biotech plans to use the funds to support a Phase 3 test of its monoclonal antibody, called emactuzumab, in tenosynovial giant cell tumor, a form of rare, non-malignant growth. SynOx has already dosed the first few patients in the trial. The extension brings the company’s total Series B proceeds to $92 million. — Ayisha Sharma Zai Lab passes Phase 3 test for KarXT in China: Bristol Myers Squibb’s schizophrenia drug appears poised to reach the Chinese market after partner Zai Lab reported positive Phase 3 data there . A Phase 3 bridging study met the primary endpoint, demonstrating a statistically significant 9.2 reduction in a measurement of schizophrenia symptoms compared to placebo. — Max Bayer Spero fails proof-of-concept Phase 2a trial, lays off staff: The company ended development of the asset after an interim analysis of SPR720 found it did not meet the primary endpoints of a mid-stage trial for patients with nontuberculous mycobacterial pulmonary disease. Spero said the drug did not show “sufficient separation from placebo” and potential dose-limiting issues at the 1,000 mg dose level, exemplified by three grade 3 cases of hepatotoxicity that were eventually reversed. The company, which had 46 employees as of Dec. 31, is now laying off 39% of its workers. — Max Bayer EyePoint upsized its public offering. It now expects to raise $140 million instead of $100 million . — Jaimy Lee

NORTH CHICAGO, IL and BOSTON, MA, USA I October 28, 2024 I AbbVie (NYSE: ABBV ) and Aliada Therapeutics today announced a definitive agreement under which AbbVie will acquire Aliada, a biotechnology company advancing therapies using a novel blood-brain barrier (BBB)-crossing technology to address challenging central nervous system (CNS) diseases. Aliada’s lead investigational asset utilizing this delivery technology, ALIA-1758, is an anti-pyroglutamate amyloid beta (3pE-Aβ) antibody in development for the treatment of Alzheimer’s disease. “Neuroscience is one of our key growth areas and we are committed to driving innovation in this field to address critical unmet needs for patients living with seriously debilitating neurological diseases such as Alzheimer’s disease,” said Roopal Thakkar, M.D., executive vice president, research and development and chief scientific officer, AbbVie. “This acquisition immediately positions us to advance ALIA-1758, a potentially best-in-class disease-modifying therapy for Alzheimer’s disease. In addition, Aliada’s novel BBB-crossing technology strengthens our R&D capabilities to accelerate the development of next-generation therapies for neurological disorders and other diseases where enhanced delivery of therapeutics into the CNS is beneficial.” “We are pleased to announce the acquisition of Aliada by AbbVie and are excited about AbbVie’s commitment to bringing ALIA-1758 to patients with Alzheimer’s disease. Our proprietary MODEL™ platform has enabled the development of ALIA-1758, a promising step forward in brain delivery of an anti-amyloid antibody therapy,” said Michael Ryan, M.D., chief medical officer at Aliada Therapeutics. “Many promising CNS-targeted therapies fail to reach late-stage trials due to their inability to cross the blood-brain barrier. Our MODEL™ platform addresses this challenge directly, efficiently delivering targeted drugs and potentially transforming how we treat neurological diseases.” Aliada is advancing therapeutic candidates using its Modular Delivery (MODEL™) platform, engineered for high-precision CNS drug delivery. The novel BBB-crossing technology targets transferrin and CD98 receptors (TfR and CD98) which are highly expressed in brain endothelial cells. By engineering highly optimized TfR or CD98 binders, this platform is designed to deliver different types of biological cargoes into the brain, including therapeutic antibodies and genetic medicines such as siRNA. ALIA-1758 utilizes TfR to transport a 3pE-Aβ antibody across the BBB to enable degradation and elimination of amyloid beta plaques, a pathological hallmark of Alzheimer’s disease. This investigational candidate is currently in a Phase 1 clinical trial to assess its safety and tolerability in healthy participants (NCT06406348). Under the terms of the agreement, AbbVie will acquire all outstanding Aliada equity for $1.4 billion in cash, subject to certain customary adjustments. This transaction is expected to close in 4Q2024, subject to regulatory approvals and other customary closing conditions. Advisors AbbVie’s legal advisor was Covington & Burling LLP. Aliada’s exclusive financial advisor was Centerview Partners LLC and Fenwick & West LLP served as legal advisor. About AbbVie AbbVie’s mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people’s lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com . Follow @abbvie on LinkedIn, Facebook , Instagram , X (formerly Twitter) , and YouTube. About Aliada Therapeutics Aliada Therapeutics is a biotechnology company focused on addressing delivery challenges in CNS drug development. Aliada is developing next-generation CNS therapeutics with its novel BBB-crossing Modular Delivery (MODEL™) platform technology, which has been shown to efficiently transport diverse therapeutic cargoes into the brain, enhancing effectiveness and addressing the critical need for efficient and versatile large molecule and oligonucleotide delivery. Johnson & Johnson (through its venture capital arm, Johnson & Johnson Innovation – JJDC, Inc.), RA Capital Management, and Raven (RA Capital Management’s incubator) co-founded Aliada and co-led the series seed financing in 2021 to advance the MODEL™ platform created by Johnson & Johnson scientists that was licensed to Aliada at its inception. Further investment was made by OrbiMed and Sanofi Ventures. For more information visit www.aliadatx.com and follow us on LinkedIn and X . SOURCE: AbbVie