Plus, news about Innovent Biologics and Acticor:
ProMIS Neurosciences inks $122.7M placement after sharing Alzheimer’s data: The biotech said its amyloid beta monoclonal antibody was safe and crossed the blood-brain barrier in an early-stage trial. On the back of the PMN310 results, it disclosed a private placement of $30.3 million upfront, which is slightly below its market capitalization. It could get up to another $92.4 million under the financing deal to support a Phase 1b in Alzheimer’s. Its stock $PMN was down about 25% on Friday morning.
Confo raises €60M Series B: The Belgian GPCR biotech said the funding will support Phase 1 trials and IND-enabling studies, including potential combinations or GLP-1 alternatives in obesity. Ackermans & van Haaren led the round. The biotech has a pain deal with Eli Lilly and has programs in fibrotic diseases, hypoglycemia, hypoparathyroidism and other areas.
Innovent Biologics partners with WeComput on AI: The biotech is collaborating with WeComput to build and enhance its AI work in drug discovery and development. WeComput is owned by Beijing Zhongda Weixin Technology. It is funded in part by Sequoia Capital and was part of the NVIDIA Inception program.
Acticor stops stroke trial: An independent monitoring committee recommended investigators stop a Phase 2/3 trial of glenzocimab in acute ischemic stroke based on an interim futility analysis. Academic teams are also testing the French biotech’s monoclonal antibody in myocardial infarction, with results from a Phase 2b expected in late 2025.