Human papillomavirus quadrivalent (types 6, 11, 16, 18) vaccine, recombinant(Emmanuel College, University of Queensland)

iStock, Sundry Photography Offsetting Merck’s growth in the third quarter were disappointing revenues from its HPV vaccine Gardasil and type 2 diabetes pill Januvia, with the company on Thursday narrowing its 2024 sales and adjusted profit outlooks. Merck on Thursday reported 7% year-over-year growth in third-quarter revenues, which came in ahead of analyst forecasts, driven by its blockbuster cancer therapy Keytruda as well as strong product launches. However, the company narrowed its full-year sales forecast and lowered its adjusted profit guidance. The pharma brought in more than $16.6 billion in Q3 versus the consensus estimate of $16.46 billion—a 1% beat. Non-GAAP earnings-per-share (EPS) was $1.57, which topped the $1.48 projection by 6%. Keytruda, a PD-1 inhibitor that has become a cornerstone therapy for many cancers, was a strong driver of Merck’s Q3 beat, growing 21% to bring in nearly $7.5 billion. Analysts had expected the blockbuster immunotherapy to generate sales of around $7.3 billion in the quarter. According to Merck, the growth in Keytruda sales was driven by greater uptake in earlier-stage settings including triple-negative breast cancer, renal cell carcinoma and non-small cell lung cancer. Keytruda also saw “continued strong demand” in its other metastatic indications. Merck reported strong product launches in Q3 including the pulmonary arterial hypertension Winrevair, which secured $149 million and surpassed analyst estimates of $129 million. The company also touted its pneumococcal vaccine Capvaxive, which the FDA approved in June 2024 and the CDC recommended for use in adults 50 years and older last week . However, offsetting Merck’s strong growth in Q3 were disappointing sales of its nine-valent HPV vaccine Gardasil and its type 2 diabetes pill Januvia. Gardasil absorbed a 10% year-over-year revenue hit, bringing in a little more than $2.3 billion in the quarter and missing the consensus estimate of more than $2.57 billion. Meanwhile, Januvia sales nosedived 49% with sales of $278 million, missing the forecast of $421 million. Looking ahead to the rest of the year, Merck lowered its full-year EPS guidance to $7.72 to $7.77—versus the previously announced range of $7.94 to $8.04—to reflect one-time charges associated with transactions with Harpoon Therapeutics, EyeBio and Curon Biopharmaceutical. The company also narrowed its sales forecast to $63.6 billion to $64.1 billion. The pharma’s previously announced projection ranged from $63.4 billion to $64.4 billion. Guggenheim Partners analyst Vamil Divan in a note to investors called Merck’s overall performance in Q3 “solid” but said the pharma needs to provide more clarity regarding its expectations for Winrevair and Capvaxive for the coming quarters—as well as its outlook for Keytruda and Gardasil as market pressures mount. BMO Capital Markets analyst Evan Seigerman noted that “Merck’s commercial story remains strong” as “Keytruda continued its usual dominance,” pointing out that Merck has properly positioned itself for continued growth in the coming years, despite Keytruda’s impending loss of exclusivity (LOE). “We believe Merck’s developing cardiovascular portfolio, advancements in I&I (immunology and inflammation) through the Prometheus transaction, and partnership with Daiichi are likely to position the company to grow through its Keytruda LOE and add to the company’s topline for several years,” Seigerman wrote. At the same time, he commented that “another sequential Gardasil miss ($2.31B vs $2.58B) suggests issues from 2Q24 are persisting” and “remains a concern” with the HPV vaccine’s revenues down 10% versus consensus “likely continued to be impacted by problems in China.”

Financing led by new investor TCGX, alongside Goldman Sachs Alternatives, Avoro Ventures and venBio Funding will support and accelerate development of next-generation multivalent respiratory virus vaccines using proprietary Molecular Clamp technology Commenced Phase I clinical study of bivalent vaccine targeting both Respiratory Syncytial Virus (RSV) and Human Metapneumovirus (hMPV) LONDON, Sept. 23, 2024 /PRNewswire/ -- Vicebio Ltd ("Vicebio"), a biopharmaceutical company developing novel vaccines against life-threatening respiratory viral infections, today announces a $100 million Series B financing led by TCGX with investment from Goldman Sachs Alternatives, Avoro Ventures, venBio, and participation from UniQuest and founding investor Medicxi. Vicebio is developing next-generation vaccines for respiratory viruses utilising its proprietary Molecular Clamp technology, discovered at The University of Queensland. This novel technology uniquely stabilises viral glycoproteins in their highly immunogenic 'prefusion' conformation, crucial for eliciting strong protective immune responses. This innovative approach enables the production of highly effective vaccines that are easy to manufacture and will be available in ready-to-use prefilled syringes. The Molecular Clamp technology is applicable to a wide range of viruses including Respiratory Syncytial Virus (RSV), Human Metapneumovirus (hMPV), Parainfluenza virus, Influenza and Coronaviruses, as confirmed by promising preclinical and clinical studies. Vicebio has recently initiated a Phase I clinical trial with VXB-241, its bivalent vaccine targeting both RSV and hMPV viruses that cause a significant burden of disease in elderly patients and those with a weakened immune system. There is currently no commercially available vaccine targeting RSV and hMPV. Initial clinical readouts of the Phase 1 study are expected mid 2025. This financing will also support the acceleration and expand further development of Vicebio's multivalent pipeline including VXB-251, a trivalent vaccine targeting RSV, hMPV and Parainfluenza Virus 3 (PIV3), a further valency that addresses a significant remaining medical burden in the elderly. Dr Emmanuel Hanon, Chief Executive Officer of Vicebio, said: "The support from these high-calibre investors underscores the robust data package we have generated for VXB-241, highlighting the significant potential of our proprietary Molecular Clamp technology to develop next-generation vaccines against respiratory viruses." Cariad Chester, Managing Partner at TCGX, said: "At TCGX, we are dedicated to supporting the translation of cutting-edge science into transformative medicines and we are thrilled to partner with Vicebio. This is a highly experienced team with a breakthrough technology to address a critical public health need. Vicebio has a unique capability to advance vaccine products that simultaneously provide robust immune responses against multiple respiratory pathogens. We look forward to working closely with the team to bring these important vaccines to the market." Dr Giovanni Mariggi, Chairman of Vicebio and Partner at Medicxi, said: "Vicebio has made significant progress in developing its Molecular Clamp platform and successfully advanced VXB-241 which offers unmatched vaccine coverage against respiratory viruses. We are pleased to welcome TCGX, Goldman Sachs, Avoro Ventures and venBio to the syndicate to support the fight against life-threatening respiratory viral infections." In connection with the financing, the Vicebio Board of Directors will expand to include Cariad Chester, Managing Partner at TCGX, Colin Walsh, Managing Director at Goldman Sachs and Mark Chin, Partner at Avoro Ventures. About Vicebio Vicebio is focused on developing next-generation respiratory virus vaccines using the Molecular Clamp Technology. The company was founded with investment from Medicxi and acquired the rights to the Molecular Clamp technology through a license from UniQuest, the commercialization arm of The University of Queensland, Australia. This proprietary technology was developed by Prof. Paul Young, Prof. Daniel Watterson, and Prof. Keith Chappell at UQ. For more information, please visit: About Medicxi Medicxi is a healthcare-focused investment firm with the mission to create and invest in companies across the full drug development continuum. Leveraging deep expertise in drug development and company creation spanning over two decades, medicxi invests in early and late-stage therapeutics with a product vision that can fulfil a clear unmet medical need. For more information, please visit: About UniQuest UniQuest is the commercialisation company of The University of Queensland (UQ). In partnership with UQ researchers, UniQuest creates impact through the commercialisation of UQ intellectual property. Established in 1984, UniQuest's commercialisation track record positions UQ as the leader of research commercialisation in Australasia. Notable successes include the blockbuster cervical cancer vaccine Gardasil® and start-up companies Spinifex Pharmaceuticals Inc and Inflazome Ltd, which were acquired in two of the largest university start-ups exits in Australian history. UniQuest has also established the Queensland Emory Drug Discovery Initiative (QEDDI), a world-class small molecule drug discovery and development group, dedicated to translating academic biomedical research into drug candidates for partnering. In 2024, UniQuest launched its AUD$32 million UniQuest Extension Fund, an investment fund dedicated to supporting the start-up eco-system at The University of Queensland. For more information, please visit: uniquest.com.au About TCGX TCGX is a healthcare investment firm dedicated to advancing disruptive medicines and supporting companies that can improve the lives of patients. TCGX invests in pioneering healthcare companies led by exceptional entrepreneurs focused on developing better treatment options for patients. TCGX has investment teams in San Francisco, Palo Alto, and New York City. For more information, please visit About Goldman Sachs Alternatives Goldman Sachs is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, life sciences, private credit, real estate, infrastructure, hedge funds, and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors, and individuals. Goldman Sachs has over $2.8 trillion in assets under supervision globally as of March 31, 2024. About Avoro Ventures Avoro Ventures is a global life sciences investment firm, and an affiliated company of Avoro Capital Advisors, an SEC-registered investment manager based in New York City, with over $6.5 billion in capital primarily focused on supporting emerging life sciences and biotechnology companies. For more information, please visit: About venBio venBio is a life sciences investment firm that partners with industry leaders to build innovative medicines and technologies, with a focus on novel therapeutics for unmet medical needs. For more information, please visit . SOURCE Vicebio WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED