CELL AND GENE THERAPY
PacBio | July 26, 2021
Pacific Biosciences has had no trouble growing its business on its own in the year and a half since its acquisition by Illumina was blocked by the Federal Trade Commission due to concerns that the combination would establish a monopoly in DNA sequencing.
Earlier this year, the sequencer manufacturer received a staggering $900 million investment from SoftBank—a commitment almost as large as the $1.2 billion promised by Illumina for the planned acquisition.
PacBio is now making its acquisition, setting out a deal for up to $800 million to acquire Omniome, another provider of DNA sequencing technology.
The majority of the transaction is comprised of planned upfront payments totaling about $600 million. This will be paid out in $300 million in cash and 9.4 million shares of PacBio common stock. The additional $200 million will come from milestone payments made when Omniome meets certain specified objectives, which will also be paid in a mix of cash and shares.
PacBio has committed a small number of its current investors to a private issue of common stock to fund the acquisition. The total gross proceeds from this deal are expected to be about $300 million. Casdin Capital, SoftBank subsidiary SB Northstar LP, and T. Rowe Price Associates are among the investors who will buy approximately 11.2 million shares of PacBio stock for $26.75 per share, which is slightly less than the stock's closing price on the last full day of trading before the buyout was announced.
PacBio will be able to extend the capabilities of its single-molecule, real-time sequencing technology, or SMRT Sequencing, for use by its clients in biomedical and infectious disease research, as well as therapeutic and diagnostic development, after the transaction is completed.
PacBio's technology is based on long-read sequencing, which analyzes long strands of DNA at a time and can detect larger genomic variants and structural changes than short-read methods—though long-read sequencing has a higher potential error rate in those readings.
Meanwhile, Omniome has created its short-read technology that concentrates on the proteins that bind to DNA to generate what it claims are more accurate analyses than existing short-read sequencers.
Combining the two technologies is reminiscent of Illumina's planned acquisition of PacBio, which would have merged the latter's long-read technology with Illumina's short-read sequencing.
The merger is a significant boost for Omniome, which has attracted several life sciences, investors since its inception in 2013. Each of its most two funding rounds—a series B in mid-2018 and a series C in early 2020—raised $60 million, bringing the San Diego-based startup's total funding to over $130 million.
CELL AND GENE THERAPY
Xylyx Bio, Inc. | September 02, 2021
Xylyx Bio, a New York-based leader in advanced biomaterials, and Inventia Life Science, a Sydney-based biotechnology company, today announced their strategic partnership following promising results developing more realistic, scalable, and reproducible 3D cell cultures for drug discovery and biomedical research.
As researchers seek to develop more physiologically relevant in vitro models, 3D bioprinting provides promising tools to quickly and more precisely culture cells to develop more effective drugs.
Inventia Life Science differentiates from other bioprinting solutions with their RASTRUM™ 3D cell culture platform, which empowers biologists with easy access to reproducible and tunable tissue models at scale. By incorporating liver-specific extracellular matrix (ECM) components developed by Xylyx Bio, the partners are developing robust 3D bioprinted liver tissue models. Inventia will complete product development and offer these solutions for research and drug discovery applications, with plans to expand offerings to other tissue types.
Dr. John O'Neill, Xylyx Bio Co-Founder and Chief Scientific Officer, stated: "Xylyx is collaborating with groundbreaking companies like Inventia to lead the industry transition to physiologically relevant disease modeling and compound testing 'in matrico'."
Dr. Julio Ribeiro, Co-Founder and Chief Executive Officer of Inventia Life Science, is very enthusiastic about this partnership. He stated, "At Inventia Life Science we strive to provide an automated 3D cell culture solution to accelerate drug discovery and biomedical research. This partnership with Xylyx is a significant step in the right direction in further expanding our matrix portfolio to enable the generation of complex tissue models in a reproducible and tissue specific manner."
About Xylyx Bio
Xylyx Bio is a pioneer in advanced biomaterials, serving customers across research, clinical and commercial applications. The Company's products provide the full suite of components from the natural cell microenvironment essential for the most accurate and actionable results for scientists working in pharmaceutical development, cell biology research, and regenerative medicine.
About Inventia Life Science
Inventia Life Science is a fast-growing biotech start-up based in Sydney, Australia, that is revolutionizing biomedical research, drug discovery and regenerative medicine. The award-winning RASTRUM™ 3D cell culture platform has already been adopted in leading medical research institutes and biotechnology and pharmaceutical companies worldwide, which are creating bioprinted tissue models that mimic real human biology.
MindMed | January 21, 2021
MindMed, a main psychedelic medication biotech organization, reported today the beginning of the principal ever clinical preliminary estimating and assessing MDMA and LSD utilized in mix in the human body. The preliminary will be directed at the University Hospital Basel Liechti Lab, in Basel, Switzerland.
If administered in combination with LSD, MDMA may expand positive abstract medication impacts, including positive state of mood and empathy, and lessen the negative feelings and nervousness that are sometimes associated with LSD - creating a general more good experience.
MindMed is undertaking a Phase 1 clinical preliminary to assess if MDMA, when adjusted and utilized in combination with LSD, can help offset a portion of the known expected horrendous impacts of LSD that happen in treatment or clinical settings. MindMed is keen on arrangement how to adjust both MDMA and LSD in a strong manner to make better patient results, and grow further developed hallucinogenic helped treatments, as MindMed extends the two its R&D and commercial drug improvement pipeline. The examination is foreseen to take around one year to finish.