Turning Point Prices IPO, Raising $166M to Test Cancer Drugs

xconomy | April 17, 2019

Turning Point Therapeutics raised more than $166 million in its IPO, pricing at the top of its range and putting nearly 2 million more shares into the public markets than it had initially planned. Strong demand ahead of the offering prompted the company, which is developing targeted cancer drugs for patients that have developed resistance to other treatments, to sell 9.25 million shares at $18 piece, raising $166.5 million before discounts, commissions, and offering expenses. Turning Point plans to list on the Nasdaq exchange under the stock symbol “TPTX.” It was slated to start trading Wednesday. Strong interest in Turning Point’s shares reflect investors’s appetite for biotech IPOs. Earlier this year in San Diego, Gossamer Bio raised $276 million in an IPO that also surpassed expectations. So, too, did biotech Synthorx’s public debut, in which it raised $131 million in an upsized offering.

Spotlight

Ion exchange resins are cross-linked water insoluble polymer-carrying, ionizable functional groups. IER have received considerable attention from pharmaceutical scientists because of their versatile properties as drug delivery vehicles. Research over the last few years has revealed that IER are equally suitable for drug delivery technologies, including controlled release, transdermal, nasal, topical and taste masking

Spotlight

Ion exchange resins are cross-linked water insoluble polymer-carrying, ionizable functional groups. IER have received considerable attention from pharmaceutical scientists because of their versatile properties as drug delivery vehicles. Research over the last few years has revealed that IER are equally suitable for drug delivery technologies, including controlled release, transdermal, nasal, topical and taste masking

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PHARMACY MARKET

CStone and LegoChem Biosciences Enter Global Licensing Agreement for New Antibody Drug Conjugate

CStone | October 29, 2020

CStone Pharmaceuticals declared today a permitting concurrence with Lego Chem Bio sciences, Inc, for the turn of events and commercialization of LCB71, a likely first-in-class/top tier immunizer drug form ("ADC"). Under the understanding, CStone gets the selective worldwide option to lead advancement and commercialization of LCB71 outside the Republic of Korea. LCB will get a forthright installment of US$10 million, and up to US$353.5 million in combined achievement installments, in addition to layered eminences. Frank Jiang, M.D., Ph.D., Chairman and Chief Executive Officer of CStone, said: "We are very pleased to form this partnership with LCB, a leading ADC platform company, to obtain global rights to an asset with highly differentiated attributes in an exciting new field of oncology. The agreement adds the first ADC to CStone's development pipeline, and bolsters our precision medicine franchise with a new modality. We look forward to harnessing its full potential and bringing it to patients around the world." LCB71 is a pre-clinical ADC going into Investigation New Drug ("IND") empowering contemplates. It targets ROR1 (receptor tyro sine kinase-like vagrant receptor 1), a high-potential ADC focus for different strong and hematological malignancies. ROR1 protein articulation is common in an assortment of malignancies including different types of leukemia, non-Hodgkin lymphoma, and bosom, lung, and ovarian tumors. LCB71 has a restrictive tumor-actuated pyrrolobenzodiazepine ("PBD") expert medication poison that tends to the ordinary poisonousness issue related with conventional PBD payloads. It has shown total tumor hindrance over a few pre-clinical disease models, which may convert into a wide helpful record for a scope of strong and hematologic malignancies. Moreover, it uses site-explicit formation for an exact medication counter acting agent proportion. This backings serum half-life and improves its pharmacokinetic profile, and furthermore empowers homogeneous creation and huge scope fabricating. Dr. Yong-Zu Kim, CEO and President of LCB, said: "We are pleased to have reached this agreement with CStone, which has demonstrated extensive oncology expertise, especially in global clinical development. This partnership puts LCB71 on a path to development and commercialization for patients worldwide. We are convinced that CStone is the right partner to secure the future of this important drug." About CStone CStone is a biopharmaceutical company focused on developing and commercializing innovative immuno-oncology and precision medicines to address the unmet medical needs of cancer patients in China and worldwide. Established at the end of 2015, CStone has assembled a world-class management team with extensive experience in innovative drug development, clinical research, and commercialization. With a strategic emphasis on immuno-oncology combination therapies, the Company has built an oncology-focused pipeline of 15 drug candidates, including five late-stage candidates at pivotal trials or registration stages. With an experienced team, a rich pipeline, a robust clinical development-driven business model and substantial funding, CStone's vision is to become globally recognized as a leading Chinese biopharmaceutical company by bringing innovative oncology therapies to cancer patients worldwide. About LegoChem Biosciences LegoChem Biosciences (LCB) is a clinical-stage biopharmaceutical company focusing on the development of next-generation novel therapeutics utilizing its proprietary medicinal drug discovery technology LegoChemistry and ADC platform technology ConjuAll. Since its foundation in 2006, LCB has focused on the research and development of Antibody-Drug-Conjugates (ADCs), antibiotics, anti-fibrotic and anticancer therapeutics based on proprietary platform technologies. Forward-looking Statement The forward-looking statements made in this article relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. In this article, statements of, or references to, our intentions or those of any of our Directors or our Company are made as of the date of this article. Any of these intentions may alter in light of future development.

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PHARMA TECH

WinHealth and Immedica enter into an agreement that gives WinHealth the rights to Ravicti® in China and several other Asia-Pacific countries

WinHealth | January 04, 2021

Hong Kong WinHealth Pharma Group Co., Ltd. furthermore, Immedica Pharma AB, today declared that they have gone into an understanding under which WinHealth has the restrictive business rights to Ravicti® (Glycerol Phenylbutyrate) for Greater China, South Korea, Singapore, Vietnam , Indonesia, Malaysia , the Philippines and Thailand gets. Ravicti® is shown for the treatment of urea cycle issue (UCD) in Europe and North America, and as a feature of the reported association, WinHealth is authorized to enlist and popularize the item against UCD in the nations demonstrated. "We are satisfied to report this association with WinHealth, with which we can make Ravicti® accessible to UCD patients in this piece of the world too. The arrangement additionally fortifies Immedica's geographic presence, as it empowers us to grow our organization to incorporate another coordinated effort for uncommon infections, " says Anders Edvell, CEO of Immedica . Jack Wang , Chairman and CEO of WinHealth , remarked, "Urea cycle problem is a seriously underserved clinical need in China that, whenever left untreated, will bring about extreme neurocognitive decay, trance like state, or even passing. We anticipate banding together with Immedica and anticipate making Ravicti®, an inventive medication affirmed in both Europe and the US , accessible to patients with UCD in China and neighboring nations. "

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BUSINESS INSIGHTS

Adare Pharma Solutions Acquires Frontida BioPharm to Expand Leading CDMO Offerings

Adare Pharma Solutions | December 02, 2021

Adare Pharma Solutions ("Adare"), a technology-driven contract development and manufacturing organization (CDMO), announced the acquisition of Frontida BioPharm ("Frontida"), a vertically integrated CDMO focused on oral formulations. The acquisition reinforces Adare's commitment to transform drug delivery by providing world class solutions from product development through commercial scale manufacturing and packaging. Adare's portfolio of offerings for its customers will expand to include new capabilities such as high potency compound handling and packaging services. The combination of the two organizations will further establish Adare as a leader in the development and manufacturing of life saving medications in complex dosage forms. "We are devoted to improving the quality of life for patients by solving the most complex formulation challenges for our customers, and we believe this acquisition will bolster our ability to achieve our mission. Frontida and Adare share a commitment to quality and innovation, and we are excited to continue growing together. The combined company will lead in the space of oral formulations, while expanding the services and technical offerings we provide to meet the needs of our customers and their patients." Vivek Sharma, Chief Executive Officer of Adare Dr. Song Li, Frontida's Chairman added, "We are very excited about the opportunities this transaction is expected to provide to both existing and new clients. Our combined resources and capabilities will result in enhanced support and talent to ensure the success of their development and commercialization programs. This transaction is also a testament to the hard work, dedication, and caring culture of the team who has helped Frontida grow, enabling continued investment into the Philadelphia area, which is a respected home for pharmaceutical development and manufacturing. We look forward to continuing our work together to provide innovative, life-enhancing products to the US and global markets." Together, the combined company will offer an expanded suite of solutions for complex oral formulations, such as taste masking, controlled release, high potency formulation manufacturing, and bioavailability enhancement. The addition of Frontida brings Adare's manufacturing footprint to seven sites globally and expands Adare's integrated, end-to-end offering to its partners. The combined organization will be led by Vivek Sharma. Adare is backed by private equity firms Thomas H. Lee Partners and Frazier Healthcare Partners. RBC Capital Markets, LLC acted as exclusive financial advisor to Adare for this transaction. About Adare Adare Pharma Solutions is a leading specialty contract development and manufacturing organization (CDMO) and global provider of advanced pharmaceutical technologies, development services, and manufacturing. The Company utilizes its differentiated pharmaceutical technology and microbiome platforms to develop novel, improved medicines, and therapies for the global market.

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