Bio Roundup: Agile Approval, Coronavirus Collabs, Spruces $88M & More
Summary
As visions of less costly diabetes care danced in regulators’ heads, another biotech revealed IPO plans, two pharma giants intend to work with the government on coronavirus infection treatments, and two former industry executives face time behind bars. —The FDA rejected a Merck (NYSE: MRK) request to OK the delivery of its drug pembrolizumab (Keytruda), which is approved to treat a number of cancers with a certain genetic signature, in 400 mg doses infused over 30 minutes every six weeks in multiple indications. —EnClear Therapies raised a $10 million Series A round of financing to move ahead a device it is developing to provide a dialysis-like offering for neurodegenerative disease, starting with amyotrophic lateral sclerosis. —Spruce Biosciences closed an $88 million Series B round to advance clinical development of a drug that treats congenital adrenal hyperplasia, a rare inherited endocrine disorder that leads to a hormonal imbalance. —Q Bio, which is developing a digital health platform that it says will help patients and their physicians better track their medical history, emerged from stealth with a $40 million Series B financing round led by Andreessen Horowitz.
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