Plus, news about BioAge, Fulcrum Therapeutics and Arcutis Biotherapeutics:
Sanofi snags Greater China rights to CD73 antibody: The French pharma will pay TJ Biopharma €32 million (or about $35 million) upfront for the rights to the antibody in China, Taiwan, Hong Kong and Macau, with a total deal value of €213 million (or about $238 million). TJ Biopharma spun out of I-Mab Biopharma, which divested from its China operations earlier this year to become a US-based company. — Max Bayer
Wave Life Sciences to raise $175M: The biotech’s public offering follows encouraging Phase 2 biomarker data of its Duchenne muscular dystrophy treatment. Wave’s shares $WVE closed 53% higher on Tuesday, at $8.19. — Max Bayer
BioAge upsizes IPO plans: The anti-aging and obesity biotech, which is in Phase 2, boosted its IPO expectations, saying it now expects $170 million and not $120 million in net proceeds. The California startup, which will trade as $BIOA, also expects $9.9 million from a concurrent private placement from Sofinnova Venture Partners. It has yet to settle on an initial pricing for its Nasdaq debut but expects to list between $17 and $19 per share. — Kyle LaHucik
Fulcrum Therapeutics lays off 29 employees: The cuts come two weeks after the company’s oral muscular dystrophy treatment failed a Phase 3 trial. Fulcrum said it will now shift its focus to a treatment for sickle cell disease that’s in Phase 1 study and other earlier-stage work. — Max Bayer
Arcutis Biotherapeutics presents additional Phase 3 data across skin types: The company tested its Zoryve cream in patients with atopic dermatitis. New subgroup analyses showed that Zoryve improved signs and symptoms of AD regardless of patients’ race, ethnicity and Fitzpatrick skin types across two Phase 3 studies. — Max Gelman