Biotech markets news. June 2014

- Morphosys (MOR.DE) and Merck Serono (MRK.DE) enter into immuno-oncology agreement. (cont’d)
- AstraZeneca (AZN) and Synairgen strike asthma deal.
- Kite Pharma (KITE) sets price range ahead of IPO.
- Orexigen Therapeutics (OREX) gets a 3 month delay for Contrave’s PDUFA.
- GSK and Theravance (THRX)  report positive Phase III data of ICS/LAMA/LABA combo in COPD.

- Morphosys (MOR.DE) and Merck Serono (MRK.DE) enter into immuno-oncology agreement. The two European companies signed a co-development and licensing agreement in which Morphosys will develop new antibodies against proposed I-O targets using its Ylanthia® technology. Merck Serono will be responsible for development from Phase I onwards.

- AstraZeneca (AZN) and Synairgen strikes asthma deal. AZN will pay $7.25M upfront plus potential development, regulatory and commercial milestones up to $225M plus tiered royalties on sales up to the mid-teens. The drug is SNG001, an inhaled IFNb ready to enter Phase IIa trials in 2015.

- Kite Pharma (KITE) sets price range ahead of IPO: CAR-T play Kite Pharma has set an IPO price range of $12-$14 dollars per share, which would value the company between $437M and $510M. The company expects to raise $72-$78M by selling 6M shares to the public.

- Orexigen Therapeutics (OREX) gets a 3 month delay for Contrave’s PDUFA. Orexigen informed the FDA has postponed the PDUFA action goal date for its obesity drug from June 10 to September 11. The FDA may require a second post-approval CV outcomes study.

- GSK and Theravance (THRX)  report positive Phase III data of ICS/LAMA/LABA combo in COPD.

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