Plus, news about Cellectar Biosciences and Innovent:
Grünenthal acquires Valinor Pharma for $250M: Grünenthal is set to become the “global owner” of the US biotech and the opioid-induced constipation drug Movantik, which brought in about $200 million in sales last year. The $250 million deal value includes all royalty obligations. — Ayisha Sharma
CEPI gives Valneva $41.3M for Chikungunya vaccine: The grant is part of an expanded partnership deal meant to support broader access to the shot, dubbed Ixchiq, in less affluent countries. The cash — which will be supplied over the next five years — will also fund post-marketing studies and potential label extensions in children, teens and pregnant women. — Ayisha Sharma
Cellectar Biosciences raises $19.4M: The New Jersey cancer biotech said it could get up to another $73.3 million in gross proceeds if more warrants are exercised by investors. — Kyle LaHucik
Innovent’s drug hits all endpoints in a second type 2 diabetes trial: The GLP-1 and glucagon receptor dual agonist called mazdutide met the primary endpoint and all key secondary endpoints in Chinese patients with type 2 diabetes in the DREAMS-1 trial. The company now plans to submit mazdutide to China’s regulatory body for approval in type 2 diabetes. The government already accepted an application for the same drug in chronic weight management. — Katherine Lewin