INDUSTRY OUTLOOK
Globenewswire | May 04, 2023
Magenta Therapeutics, Inc. and Dianthus Therapeutics, Inc. a privately-held, clinical-stage biotechnology company dedicated to advancing the next generation of antibody complement therapeutics, announced today that they have entered into a definitive merger agreement to combine the companies in an all-stock transaction. The combined company will focus on advancing Dianthus’ pipeline of next-generation complement inhibitors, including DNTH103 currently in a Phase 1 clinical trial. Upon completion of the merger, the combined company is expected to operate under the name Dianthus Therapeutics, Inc. and trade on the Nasdaq under the ticker symbol “DNTH”.
In support of the merger, Dianthus has secured commitments for a $70 million private investment in its common stock and pre-funded warrants from a syndicate of healthcare investors led by Fidelity Management & Research Company, Catalio Capital Management, 5AM Ventures, Avidity Partners, Wedbush Healthcare Partners and founding investors Fairmount, Tellus BioVentures and Venrock Healthcare Capital Partners, that is expected to close immediately prior to completion of the merger. With the cash expected from both companies at closing and the proceeds of the concurrent private financing, the combined company is expected to have approximately $180 million of cash or cash equivalents immediately post-closing. The cash resources are intended to be used to advance Dianthus’ pipeline through multiple clinical data catalysts and is expected to fund operations into mid-2026. The merger and related financing are expected to close in the third quarter of 2023.
“I’m delighted to announce this planned merger with Magenta, which comes at a pivotal moment in the evolution of our company as we advance our pipeline of next-generation complement therapeutics for people living with severe autoimmune diseases,” said Marino Garcia, President and Chief Executive Officer of Dianthus Therapeutics. “Gaining access to the public capital markets can enhance our financial strength and fuel our growth strategy, enabling us to unlock the full potential of our pipeline, including our plans to address multiple autoimmune disorders with our clinical-stage active C1s inhibitor, DNTH103.”
“After a thorough exploration of our strategic alternatives, management and our Board of Directors believe the transaction with Dianthus Therapeutics will culminate in a successful outcome for our stockholders,” said Steve Mahoney, President, Chief Financial and Operating Officer of Magenta. “Dianthus has made rapid progress in developing and advancing DNTH103 into the clinic where it has the potential to be a transformative classical pathway inhibitor for severe autoimmune diseases. We are extremely grateful to our current and former employees who contributed to Magenta’s efforts to develop its programs and we now look forward to the combined company’s advancement on opportunities for value creation for patients.”
Magenta previously announced a comprehensive review of strategic alternatives in February 2023 and has since completed winding down a majority of its activities and costs associated with its research and development initiatives, including the termination of its lease and the sale of key assets.
erving as co-financial adviser and Goodwin Procter LLP is serving as legal counsel to Magenta Therapeutics. Jefferies, Evercore ISI, Guggenheim Securities and Raymond James are serving as the placement agents to Dianthus Therapeutics, and Gibson, Dunn & Crutcher LLP is serving as legal counsel to Dianthus Therapeutics.
About Magenta Therapeutics
Magenta Therapeutics is a clinical-stage biotechnology company developing medicines to bring the curative power of stem cell transplant to more patients with blood cancers, genetic diseases and autoimmune diseases. Magenta is combining leadership in stem cell biology and biotherapeutics development with clinical and regulatory expertise, a unique business model and broad networks in the stem cell transplant community to revolutionize immune reset for more patients.
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INDUSTRY OUTLOOK
prnewswire | May 08, 2023
Frost & Sullivan announced that it has awarded Genomenon with the 2023 Global Technology Innovation Leadership Award. Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables. Frost & Sullivan market analysts determined that Genomenon excels in many of the criteria and best practices identified as critical for the global pharma and clinical diagnostics genomics markets.
Genomenon is a genomic intelligence software company that combines AI-powered Genomic Language Processing (GLP) with expert review by genetic scientists to deliver the most comprehensive knowledgebase of genomic evidence available. Their fit-for-purpose combinatorial approach to identifying and indexing published genomic evidence gives them a unique advantage over other open access and commercial genomic data resources in this space.
Clinical diagnostic labs rely on Genomenon's Mastermind Genomic Search Engine to find critical information needed to diagnose rare genetic diseases and identify the most appropriate patient treatment options. Pharmaceutical companies engaged in the development of rare disease therapeutics partner with Genomenon to gain deep insights into the genetic drivers of disease. The Genomenon scientific team leverages information in the Mastermind knowledgebase to provide the genomic intelligence pharmaceutical companies need to better understand disease mechanisms, more accurately estimate disease prevalence, design clinical trials, and prepare documentation for regulatory approvals.
Pavel Zhebrouski, a best practices research analyst at Frost & Sullivan, observed, "Genomenon differentiates itself in the space by providing a unique combination of AI technology and human expertise. Genomenon empowers rare disease pharmaceutical and biotechnology companies to make informed decisions about promising candidates in their pipeline and help propel novel therapeutics to market. Its commitment to innovation and creativity, scientific rigor, and accuracy, while achieving commercial success, differentiates it from competitors," added Tejashri Khadilkar, Frost & Sullivan industry analyst.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Genomenon
Genomenon is an AI-driven genomics company focused on making genomic information actionable for patients with rare genetic diseases and cancer. Keeping pace with the ever-evolving body of knowledge within genomics, Genomenon connects current research with patient DNA to accelerate clinical decision-making and pharmaceutical drug discovery and development.
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MEDICAL, INDUSTRY OUTLOOK
PRNewswire | May 16, 2023
PhenomeX Inc. the functional cell biology company, announced the launch of Beacon Select™ optofluidic system with Opto® B Discovery workflows for antibody discovery.
The Opto B Discovery workflows, with their cutting-edge technologies and features, enable scientists to find lead candidate antibodies tailored to their specific challenges and changing needs. Combined with the value-matched Beacon Select system, more customers may access these propriety antibody discovery applications, but with the optimum level of features that meet their research and budgetary needs. PhenomeX's optofluidic platform is now a standard to deliver optimal antibodies with speed, as highlighted recently in the high-impact journal Cell, where antibodies against COVID-19 variants were discovered on the Beacon system six months before Omicron emergence.
Beacon Select for Antibody Discovery Workflow Feature
Opto B Discovery workflows on the Beacon Select system enable scientists to accelerate antibody screening and hit generation to find lead candidate antibodies and are ideally suited for small- to mid-sized biopharma and CDMOs/CROs. This contrasts with the flagship four-chip Beacon system enabled for antibody discovery, optimized for the highest screening throughputs demanded by large biopharma and established CDMOs/CROs.
The Beacon Select system enables rapid function-first selection of single B cells with the best characteristics for any antibody application, including antibody therapeutics, diagnostics, and reagents. In addition, the Opto B Discovery workflows offer users highly customizable assays to assess antigen and epitope specificity, species or variant cross-reactivity, and functional properties, all in a single-day workflow. By selecting and recovering sequences of only the most desirable antibodies with favorable attributes, users can reduce overall bioprocessing costs, improve the probability of campaign success, and shorten timelines to lead candidates. When combined with PhenomeX's catalog of best-in-class reagents and consumables for mouse, human, and rabbit B cell repertoires, customers can do all this against even the hardest antigen targets, including G coupled-protein receptors (GPCRs) and ion channels, to accelerate antibody discovery beyond traditional methods available today.
PhenomeX participation at 19th Annual PEGS Boston Conference & Expo
PhenomeX is participating at the 19th annual Protein Engineering & Cell Therapy Summit (PEGS) conference and expo being held from May 15-19 at the Hynes Convention Center in Boston, Mass. At the conference, the Company will feature its optofluidic and proteomic platform technologies, including the new Beacon Select system, in booth #517 and present two posters and podium presentations. Attendees can explore demonstrations of the technology and learn more about how PhenomeX's products can advance and accelerate our understanding of cellular function along the continuum of scientific discovery, bioprocessing, clinical research, and immunotherapy development.
About PhenomeX Inc.
PhenomeX is empowering scientists to leverage the full potential of each cell and drive the next era of functional cell biology that will advance human health. We enable scientists to reveal the most complete insights on cell function and obtain a full view of the behavior of each cell. Our unique suite of proven high-throughput tools and services offer unparalleled resolution and speed, accelerating the insights that are key to advancing discoveries that can profoundly improve the prevention and treatment of disease. Our award-winning platforms are used by researchers across the globe, including those at the top 15 global pharmaceutical companies and approximately 85% of leading U.S. comprehensive cancer centers.
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