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Today, a brief rundown of news involving Halozyme and Neurogene, as well as updates from Argenx and Kura Oncology that you may have missed.
Halozyme Therapeutics on Friday said it withdrew an offer to buy Evotec after the German drug discovery and contracting company refused to engage in acquisition talks. Halozyme sought to buy Evotec in a deal valuing the firm at 2 billion euros, or about $2.1 billion and, in the months leading up to its proposal, sought to discuss the idea with multiple members of Evotec leadership. But several meeting requests were rejected and it is “now become evident that there is no interest” in a deal, Halozyme CEO Helen Torley said in a statement. Private equity firm Triton has also shown interest in Evotec, however. It recently acquired a 10% stake and is reportedly exploring a possible buyout. — Ben Fidler
A study participant who received a gene therapy Neurogene is developing for Rett syndrome has died, the company revealed in a regulatory filing Thursday. Neurogene shared last week that the patient, who was given a high dose of the therapy on Nov. 5, was in critical condition after experiencing a side effect “consistent with known risks” of gene therapies delivered with an adeno-associated virus, or AAV. On Thursday, Neurogene disclosed the patient has since died from complications of that side effect, a rare and life-threatening “hyperinflammatory syndrome” associated with high systemic exposure to AAV. The Food and Drug Administration recently allowed Neurogene to continue testing with a lower dose. — Ben Fidler
Argenx is moving ahead with plans to test its drug efgartigimod in several subtypes of myositis, a group of rare autoimmune diseases that affect a range of organs and muscles. The decision to green light further testing followed Argenx’s receipt of efficacy and safety results from the Phase 2 portion of a Phase 2/3 study it’s been conducting. Treatment with efgartigimod, which Argenx sells as Vyvgart for myasthenia gravis and other rare disorders, led to significant patient improvement compared to placebo in the Phase 2 study, the company said Nov. 20. The news, which lifted Argenx stock, provides another market opportunity for efgartigimod that analysts think could be worth at least $1 billion in peak annual sales. — Ned Pagliarulo
Kyowa Kirin is paying Kura Oncology $330 million upfront for rights to an experimental oral leukemia drug now in Phase 1 testing, Kura said Wednesday. Under the terms of the deal, Kura could receive up to $420 million more should ziftomenib reach market for relapsed or treatment-resistant acute myeloid leukemia expressing a mutation called NPM1. The deal also gives Kyowa Kirin opt-in rights to ziftomenib in solid tumors. Kura will lead development and book sales in the U.S. that will be shared with Kyowa Kirin, while Kyowa Kirin will handle those responsibilities outside the U.S. Ziftomenib is a new type of cancer drug that blocks a protein called menin, which when it interacts with a second protein helps diseased leukemia cells survive and reproduce. — Jonathan Gardner