Plus, news about Otsuka, Ionis, Ability Biologics, Santhera, Mustang Bio and Vaxart:
New biotech joins obesity race: Supercede Therapeutics raised an undisclosed seed round from an unnamed investor to help it develop an oral obesity medicine that goes after the same target as Eli Lilly’s bimagrumab, which is being developed as an IV infusion and is in Phase 2. Supercede licensed molecules from China’s Fudan University and East China Normal University, CEO Ilan Zipkin told Endpoints News. Zipkin was previously a partner at Aditum Bio, the venture firm that created Versanis Bio, which Lilly bought last year to get bimagrumab. Years ago, Zipkin said he thought about creating a biotech venture fund called Supercede but didn’t follow through with it. He liked the name and kept it for the new startup. — Kyle LaHucik
UroGen prices $107.5M offering: The cancer biotech plans to sell shares at $17.50 a piece, about 75 cents lower than its closing price on Monday. UroGen’s shares $URGN were down about 9% on Tuesday morning. Last week, UroGen disclosed more data from a Phase 3 bladder cancer study. — Kyle LaHucik
Otsuka expands rights to Ionis drug: The Japanese drugmaker is now licensing donidalorsen, Ionis’ hereditary angioedema drug candidate, in Asia-Pacific for $20 million upfront. It made a European licensing pact for the drug last year. — Kyle LaHucik
Ability Biologics raises $18M seed round: The Canadian biotech is working on antibody medicines for immune-related diseases and cancer. Investors include fellow Canadian firm Amplitude Ventures, Charles River Laboratories, Alexandria Venture Investments and others. — Kyle LaHucik
Santhera gets up to $77M: The Swiss biotech said the up to CHF 69 million deal comes by way of royalty and debt financings. Santhera’s cash runway could now extend into the first half of 2026. — Kyle LaHucik
Mustang Bio shares new CAR-T data: The company announced Monday that nine of ten patients with a rare blood cancer known as Waldenström’s macroglobulinemia who received its CAR-T therapy responded to treatment, with three seeing all signs of their cancer disappear. Its stock $MBIO quintupled in value on Monday, though its shares are still down about 20% since the beginning of the year. — Lei Lei Wu
Vaxart is developing an avian flu vaccine. — Jaimy Lee