Plus, news about Celcuity and Weave Bio:
Compugen bags $5M milestone from AstraZeneca: The payment was triggered after the first lung cancer patient was dosed in a Phase 3 trial of AstraZeneca’s rilvegostomig. The TIGIT component of the PD-1/TIGIT bispecific antibody was derived from Compugen’s clinical-stage drug candidate, named COM902. — Ayisha Sharma
Nxera Pharma secures $4.6M milestone from Centessa Pharmaceuticals: The payout was announced after the companies’ experimental treatment for narcolepsy type 1, dubbed ORX750, moved into Phase 1. Centessa designed the orexin receptor 2 agonist with the help of Nxera’s technology. — Ayisha Sharma
Insmed now aims to raise $650M in public offering: The company said Tuesday it wanted to raise $500 million. Insmed plans to use the money to fund additional R&D and commercial work for brensocatib, which read out positive Phase 3 data earlier this week, and other programs. — Max Gelman
Celcuity plans pivotal trial, secures $61.7M loan: The biotech plans to study gedatolisib, in combination with a CDK4/6 inhibitor and Faslodex, in the first-line setting for HR+/HER2- advanced breast cancer in patients who are resistant to endocrine therapy. Celcuity’s loan agreement, which was amended from an earlier deal, will allow it to draw up to $180 million in total. — Max Gelman
Weave Bio raises $10M in seed funding, launches AI platform for IND filings: The Clayton, DE-based biotech’s AutoIND solution is designed to automate and speed up the “preparation, writing and review process” for IND applications. — Ayisha Sharma