Read on for news about Benitec Biopharma, Korro Bio, Zura Bio, Ocular Therapeutix and SK biopharmaceuticals:
Biohaven to seek $230M public offering: The company’s offering follows an update to its BHV-1300 program, an IgG protein degrader being developed for autoimmune conditions, in an SEC filing this week. Biohaven is expected to share more data from a Phase 1 healthy volunteer trial at its R&D Day on May 29. — Max Gelman
Benitec Biopharma’s $40M PIPE: The RNAi biotech’s private stock investment was led by Suvretta Capital Management, with participation from Adage Capital Partners, Nantahala Capital, “multiple healthcare-focused funds and a leading mutual fund.” It also disclosed that the first patient with oculopharyngeal muscular dystrophy who received its experimental therapy, BB-301, saw improvement in measures of swallowing ability at about three months. Oculopharyngeal muscular dystrophy is a rare genetic muscle condition. — Lei Lei Wu
Korro Bio aims for $70M to advance first-in-human study: The RNA editing startup expects to raise $70 million from a stock sale to private investors, which include funds associated with Deep Track Capital, Atlas Venture, Blue Owl Healthcare Opportunities, and NEA, among others. The company plans to use the money to run a Phase 1/2 study of an RNA editing therapy in patients with alpha-1 antitrypsin deficiency. Korro plans to file for regulatory clearance to start the study in the second half of the year. — Lei Lei Wu
Zura Bio closes $112.5M private placement: The immunology company brought in the new funding after new CEO Robert Lisicki officially began his tenure earlier this month. Before joining Zura in 2023, Lisicki was chief commercial officer at Arena Pharmaceuticals, which was acquired by Pfizer in 2022. — Max Gelman
Ocular Therapeutix toplines Ph1 study: The company touted data from the Phase 1 HELIOS study, which tested the experimental drug Axpaxli in non-proliferative diabetic retinopathy. Six of 13 patients responded by at least one step on a retinopathy severity scale, with two seeing a two-step improvement. No one improved in the sham control group, Ocular said. Shares of the company $OCUL were down 10%. — Max Gelman
SK biopharmaceuticals transfers pain drug to Ignis: According to a report by the Korea Biomedical Review, SK will get up to $58 million in exchange for SKL22544, a non-narcotic pain program. Ignis will pay $3 million upfront and up to $55 million in various milestones. — Max Gelman