Protein Discovery Raises $10M in Series C
Sample-prep firm Protein Discovery said this week it closed a $10 million Series C round of financing.
Protein Discovery will use the funds to “boost” the entry of its flagship passport 1200 Sample Prep System to market, the company said in a statement.
Santé Ventures led the round and was joined by previous investors, including Memphis Biomed Ventures, the Southern Appalachian Fund, and the Nashville Capital Network.
Eli Lilly Gilds Partnership with HistoRx
HistoRx this week said it signed a three-year agreement with Eli Lilly for the use of HistoRx’s AQUA technology, extending and expanding an agreement originally reached in 2005.
Financial terms of the deal were not disclosed.
Lilly researchers and clinicians involved in drug discovery, preclinical research, and clinical development will be able to use AQUA under the terms of the new agreement. The technology will be used for tissue biomarker analysis. HistoRx will also develop customized AQUA analysis-based immunohistochemical assays for Lilly to be used in drug discovery and development.
HistoRx has the option to commercialize the assays and reagents developed as a result of the collaboration for clinical use as predictive diagnostics.
MD Anderson Licenses Proteomics Technology to Baypoint
BayPoint Biosystems has received exclusive, worldwide rights to certain proteomics technologies from the MD Anderson Cancer Center under an agreement announced this week. BayPoint also has rights to clinical biomarkers that predict therapeutic response for certain ovarian and breast cancers.
Financial terms of the deal were not released.
In a statement, James Erickson, founder, president, and CEO of Baypoint, a personalized medicine company, said the partnership will help its pharmaceutical partners evaluate how their drugs are working and decide how to combine experimental drugs with approved therapies more effectively.
Miraculins Offers Placement to Raise Funds
Miraculins this week announced the non-brokered private placement offering of up to 5 million units at CA $.15 [US $.15] per unit for gross proceeds of up to $750,000.
Each unit will be made up of one share of the company’s common stock, and a half-share of a purchase warrant. Each whole warrant will entitle the holder to purchase one share of the company’s stock for $.25 for a period of 12 months from the date of the purchase of the warrant.
Miraculins will use net proceeds from the offering for R&D and working capital purposes, it said in a statement.
MorphoSys, Daiichi Extend Antibody Deal
Daiichi Sankyo has used an option to extend its collaboration with MorphoSys under which it has access to the latter’s antibody library HuCAL Gold at Daiichi’s Tokyo research site.
Under an earlier agreement, the collaboration was to expire at the end of the month. The extension is for up to three years and gives Daiichi an option to develop and commercialize up to six HuCAL-derived therapeutic antibodies. If it does, MorphoSys would receive exclusive license fees and milestone and royalty payments.
Additional financial details were not disclosed.
Evotech, Ono Partner on Drug Discovery
Evotec and Ono Pharmaceutical have signed a new-drug discovery agreement, the companies said this week.
The agreement calls for the use of Evotec’s EVOlution platform to identify novel, small molecular weight compounds active against a protease target. The platform integrates protein X-ray crystallography, computational chemistry, structural biology, biochemical, and NMR-based fragment screening in combination with Evotec’s fragment libraries.
Under the agreement, Ono will pay Evotec initial technology access fees, research funding, and payments based upon certain milestones being reached. Further financial details of the agreement were not disclosed.