Istituto Gentili Srl

Plus, news about Basilea, BARDA, Inventiva and CTTQ: Recursion buys full rights to oral drug: The AI-driven biotech, which recently restructured , acquired the full rights to REV102, an oral ENPP1 inhibitor, from Rallybio. The companies had a joint venture on REV102, which is intended for a rare genetic disorder known as hypophosphatasia. The drug is slated to enter Phase 1 in the second half of next year. Recursion will pay $7.5 million in upfront equity , another $12.5 million equity payment once more preclinical studies begin and $5 million once the Phase 1 trial begins dosing participants. — Kyle LaHucik CStone out-licenses sugemalimab for up to $192.5M: Istituto Gentili will get commercial rights for the PD-L1 targeting drug in 23 European countries as well as the UK, Andorra, Monaco, San Marino and Vatican City. The deal value consists of both upfront and milestone payments. CStone is also eligible for almost half the revenues from the licensed territories. Sugemalimab is approved in Europe and the UK for metastatic non-small cell lung cancer. — Ayisha Sharma Basilea secures more BARDA funding for antifungals: The US government agency is handing over $39 million as part of a multi-year agreement inked with Basilea last year. The agreement focuses in part on the development of two antifungal drugs called fosmanogepix and BAL2062. Basilea could get up to $268 million in total. — Ayisha Sharma Inventiva gets $10M milestone from CTTQ: The milestone payment follows from a licensing deal inked in 2022. As part of that agreement, CTTQ got development and commercialization rights for Inventiva’s MASH drug, lanifibranor, in China and several other Asian markets. Inventiva is eligible for up to $290 million in milestones. — Ayisha Sharma