Plus, news about scPharmaceuticals and BiVictriX:
Tenax Therapeutics’ $100 million PIPE: The company plans to put the money toward a second Phase 3 trial of an oral heart failure drug called levosimendan. The PIPE was led by BVF Partners and also included Venrock, Vivo Capital and Janus Henderson Investors, among others. The intravenous version of levosimendan is marketed as Simdax for heart failure by Orion Pharma, but it is not approved in the US. — Lei Lei Wu
Sanofi invests $30 million in MeiraGTx for obesity program: The investment was part of a $50 million stock sale by MeiraGTx. Investors included Perceptive Advisors, among others. The company said the funding will enable it to speed the development of a preclinical obesity and metabolic disease treatment that uses a new delivery technology. MeiraGTx is also developing gene therapies for xerostomia (or dry mouth), Parkinson’s disease and genetic eye conditions. — Lei Lei Wu
ScPharmaceuticals takes out $125M loan, touts PK data: The loan from Perceptive Advisors will be used to refinance the company’s debt for $75 million and give Perceptive royalty payments in exchange for $50 million. PK data showed that the company’s SCP-111 program had a bioavailability of 107.3% in an open-label study. ScPharmaceuticals also launched a public offering on Monday. — Max Gelman
BiVictriX to go private: The British startup canceled its listing on the AIM stock exchange in London and instead registered as a private company. BiVictriX laid out several reasons for its decision, including a challenging fundraising environment for preclinical companies and the financial burden of remaining public, among others. — Max Gelman