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Stock impact report

Week In Review: AriBio Sells China Rights To Alzheimer's Candidate In $770M Deal [Seeking Alpha]

Nuvation Bio Inc. Class A (NUVB) 
Company Research Source: Seeking Alpha
AnHeart Therapeutics, a New York-Hangzhou biopharma, will become part of Nuvation Bio (NYSE: NUVB) of New York in an all-stock deal. San Diego's Avenzo Therapeutics closed a $150 million Series A-1 round to develop its lead program AVZ-021, a potentially best-in-class CDK2 selective inhibitor. Deals and Financings South Korea's AriBio out-licensed China rights for AR1001, an Alzheimer's disease candidate, in an agreement worth up to $770 million ($90 million upfront). The company acquiring the asset asked to remain anonymous because of the competition for Alzheimer's drugs in China. AR1001 is an oral PDE5 inhibitor and originally a South Korean candidate for erectile dysfunction. In pre-clinical studies, AR1001 inhibited neuron apoptosis and restored synaptic plasticity, according to the company, and it has also shown the ability to reduce hyperphosphorylated tau proteins in a Phase II trial. AnHeart Therapeutics, a New York-Hangzhou biopharma, will become part of Nuvation Bi Show less Read more
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