Today, a brief rundown of news involving Merck & Co. and Enliven Therapeutics, as well as updates from Insmed, KymaThera and RougeTx that you may have missed.
A Netherlands court has blocked sales of Merck & Co.’s subcutaneous cancer immunotherapy Keytruda Qlex in eight European countries by siding with Halozyme in an intellectual property dispute. According to Halozyme, the court ruled that Merck’s drug infringed on patents covering a Halozyme technology capable of rapidly delivering large biologic molecules through under-the-skin injections. The Netherlands case is part of a broader offensive by Halozyme, which won a legal proceeding in Germany and is challenging Merck in a U.S. court. Unlike Merck, Bristol Myers Squibb and Roche both partnered with Halozyme to develop subcutaneous versions of their cancer immunotherapies Opdivo and Tecentriq. The decision announced Wednesday “strengthens [Halozyme]’s position and could improve the potential path toward a future license or other economic resolution,” wrote TD Cowen analyst Brendan Smith in a client note. — Jonathan Gardner
Enliven Therapeutics has aligned with the Food and Drug Administration on the design of a late-stage study for its experimental chronic myeloid leukemia drug relcobatinib. Enliven’s drug blocks the expression of a faulty gene that drives CML. It’s emerging as a potential threat to Novartis’ Scemblix and a therapy Merck acquired in a $6.7 billion acquisition of Terns Pharmaceuticals. The planned trial will enroll 450 people and test whether relcobatinib is superior to another drug from its class at spurring a “major molecular response,” or reducing the number of diseased cells. In a client note, Jefferies analyst Maury Raycroft wrote that recent data updates from Enliven, combined with a slightly diminished outlook for Merck’s drug, have improved the sentiment surrounding relcobatinib. — Jonathan Gardner
Insmed Chief Financial Officer Sara Bonstein will step down from her position on Oct. 30, ending a seven-year run at the company. Insmed hasn’t yet named a replacement and will begin a search for a successor, the company said Monday. Bonstein will stay on board for the next few weeks to ensure a “smooth transition” through Insmed’s third-quarter results. Insmed’s value has grown substantially over the course of Bonstein’s tenure, as the company transitioned into a commercial-stage company with growing product sales. The company reaffirmed its full-year financial guidance on Monday. — Delilah Alvarado
KymaThera has raised $80 million in a Series B round that will go toward a treatment for vascular malformations and cancers driven by PI3Kα mutations. Dubbed K-1728, KymaThera’s prospect is initially being evaluated as a standalone treatment for the former condition and as part of a combination regimen in HR-positive, HER2-negative breast cancer. KymaThera expects to start Phase 1 testing in the fourth quarter. The Series B round was led by Alta Partners, and involved contributions from Foresite Capital, Venrock and J. Wood Capital, among others. The startup has now raised over $100 million in venture funding. — Delilah Alvarado
RougeTx, a new biotech startup, launched with a $58 million Series A round that will help advance an experimental treatment for a rare bleeding disorder. RougeTx is working on a once-daily oral medication for hereditary hemorrhagic telangiectasia, a condition that spurs the formation of abnormal blood vessels and that’s become a popular target among young drugmakers. Its prospect, RTX-001, is designed to reattach key structural support cells called pericytes to the walls of blood vessels. — Ben Fidler
