Plus, news about Talus Bioscience, Moleculin, Organon and Eli Lilly:
Kymera Therapeutics aims to raise $225M: The public offering will be used to fund Kymera’s pipeline, and some funds could be used for small acquisitions or in-licensing deals. Kymera put the offering together about a month after it announced Sanofi would expand the clinical trial program for an IRAK4 protein degrader that the two are partnered on. — Max Gelman
Danish, Chinese companies partner on $1 billion-plus deal: Adcendo and Multitude Therapeutics will work together on an antibody-drug conjugate targeting tissue factor that is implicated in several cancers, including lung cancer, ovarian cancer and colorectal cancer. The deal included an upfront payment, the amount of which wasn’t disclosed. — Max Gelman
Talus Bioscience secures $11.2M in seed funding: The proceeds will be used to advance the biotech’s cancer pipeline and further expand its AI-powered MARMOT platform. The round was led by Two Bear Capital, with support from other investors including WRF Capital, NFX and YC Continuity Fund. — Ayisha Sharma
Moleculin closes $16.5M public offering: The Houston-based company secured $5.5 million upfront and a further $11 million in potential milestone-linked warrants. Moleculin plans to use the funds to advance the development of its next-generation anthracycline candidate, annamycin, as well as two other drug candidates. — Ayisha Sharma
Organon expands territory rights to Eli Lilly’s migraine drug: The deal will net Organon the rights to Emgality in 11 new countries: Canada, Colombia, Israel, South Korea, Kuwait, Mexico, Qatar, Saudi Arabia, Taiwan, Turkey and the United Arab Emirates. Organon will pay Lilly $22.5 million upfront and sales-based milestones. — Max Gelman