Plus, news about Annexon, Passkey Therapeutics, XOMA Royalty and Twist Bioscience:
MacroGenics sells breast cancer drug rights for up to $75 million: The company is handing over Margenza’s rights to TerSera Therapeutics in exchange for $40 million when the deal closes and up to $35 million in sales milestones. The treatment, which is administered with chemotherapy for some patients with metastatic HER2-positive breast cancer, was approved by the FDA in 2020. — Jaimy Lee
Rice University launches biotech accelerator: RBL LLC is looking to speed up the journey of biotech startups with medical tech developed out of the Rice Biotech Launch Pad, the university’s innovation accelerator. RBL will use patents from university faculty and bring together executives and scientists to launch “multiple” companies, according to RBL. — Katherine Lewin
Annexon reports more data from Phase 2 eye drug trial: The company is back with positive secondary endpoint data from a mid-stage trial. Last year, it said its complement inhibitor didn’t prove statistically significant in the primary endpoint of reducing lesion eye growth. On Tuesday, it said the drug, ANX007, showed “enhanced protection of vision and greater preservation of central photoreceptor cells” in a subpopulation of patients in the trial that had less advanced geographic atrophy. It expects to share data from a pivotal Phase 3 trial in the second half of 2026. — Katherine Lewin
Passkey emerges from stealth with $20M in seed funding: The raise will go toward developing a new class of single-drug therapies that the company is calling synergistic multifunctional therapeutics, which will be designed to “modulate rare combinations of proteins that work together.” Breakout Ventures, Innovation Endeavors and Bison Ventures led the funding round. — Katherine Lewin
XOMA’s new royalty deal with Twist: The company will get $15 million upfront in cash in exchange for one-half of milestones and royalties from agreements that Twist is already engaged in. — Jaimy Lee