Tagged News
Momentum Biotechnologies Acquires OmicScouts to Expand Mass Spectrometry-Based Drug Discovery Platform
- Momentum Biotechnologies has completed the acquisition of Munich-based OmicScouts GmbH, a leader in mass spectrometry-based proteomics, to enhance its drug discovery service offerings.
- The acquisition provides Momentum with access to well-validated proteomic assays that enable clients to progress from high-throughput screening to cell-based assays and biomarker discovery.
- OmicScouts' chemoproteomic capabilities will help close the gap between biochemical hit identification and downstream preclinical assays, addressing long-standing client requests.
- The transaction enables immediate geographic expansion into the European market and strengthens Momentum's position in providing comprehensive mass spectrometry solutions to biopharmaceutical companies.
Regeneron Leads $60 Million Consortium to Accelerate UK Biobank Genome Sequencing for Alzheimer's and Parkinson's Drug Discovery
- Regeneron has formed a consortium with AbbVie, Alnylam, AstraZeneca, Biogen, and Pfizer, with each company committing $10 million to accelerate sequencing of 500,000 UK Biobank genomes by end of 2019.
- The project aims to identify new biological targets for drug development, particularly for neurological diseases like Alzheimer's and Parkinson's, where current failure rates exceed 90%.
- Regeneron's automated sequencing capabilities through its Genetics Center have dramatically reduced processing time, potentially revolutionizing drug discovery by linking genetic data with health records from 500,000 volunteers.
- After an exclusive access period for consortium members, all sequencing data and research findings will be made publicly available to the broader scientific community.
Regeneron to Acquire 23andMe for $310 Million, Gaining Access to Vast Genetic Database
- Regeneron Pharmaceuticals has reached an agreement to acquire 23andMe for approximately $310 million, gaining access to one of the world's largest consumer genetic databases.
- The acquisition comes as 23andMe has struggled financially in recent years, with its stock price declining significantly since going public in 2021 through a SPAC merger.
- This deal represents a strategic move for Regeneron to enhance its drug discovery capabilities by leveraging 23andMe's genetic data from millions of consenting users.
China Dominates AI-Driven Drug Discovery Patent Landscape, Reshaping Pharmaceutical R&D
- China has filed over 38,000 generative AI patent applications between 2014-2023, with a significant portion focused on drug discovery and compound screening technologies.
- The surge in Chinese AI pharmaceutical patents is fueled by government investment, tech giant participation, pharmaceutical market growth, and access to vast healthcare data resources.
- AI-driven drug discovery systems being patented can analyze chemical compounds, predict properties, and identify drug candidates more efficiently, potentially reducing development timelines and costs.
Rapafusyn Pharmaceuticals Raises $28 Million Series A to Advance Non-Degrading Molecular Glue Platform
- Rapafusyn Pharmaceuticals secured $28 million in Series A funding led by 3E Bioventures Capital and Proxima Ventures to advance its RapaGlue™ platform for discovering non-degrading molecular glues.
- The company's platform can systematically create molecular glues by design to target traditionally challenging or undruggable disease targets, including protein-protein interactions and transcription factors.
- Founded by Johns Hopkins University's Dr. Jun O. Liu, who pioneered the molecular glue field with his 1991 discovery of FK506 and cyclosporin A mechanisms.
- The RapaGlue™ technology integrates benefits of molecular glues with cyclic peptides to create cell-permeable drug candidates for previously intractable therapeutic targets.