Lilly invests $700M in Boston Seaport site

15 Necco Street, Seaport Innovation District, Greater Boston. Image courtesy of Alexandria Real Estate Equities, Inc.

Eli Lilly and Company (NYSE:LLY) will spend roughly $700 million to build the Lilly Institute for Genetic Medicine in Boston’s Seaport neighborhood.

The facility will focus on RNA- and DNA-based therapeutics and draw resources from Lilly’s 2020 acquisition of Prevail Therapeutics for approximately $1 billion.

The new facility will be based in a 334,000 ft2 site in a 12-story building.

Lilly plans on occupying the site in 2024.

Before the acquisition, Prevail focused on developing disease-modifying AAV9-based gene therapies for neurodegenerative diseases.

“Establishing the Lilly Institute for Genetic Medicine will allow us to pair cutting-edge technologies with our deep biological expertise in several areas, including neuroscience and diabetes,R…

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Kyverna Therapeutics wins $85 million in Series B financing

The cell therapy company Kyverna Therapeutics (Emeryville, California) has closed an oversubscribed $85 million Series B funding round led by Northpond Ventures.

The company plans to use the funding to launch a Phase 2 trial for its lead asset, KYV-101, in the first half of 2022.

KYV-101 is an autologous anti-CD19 chimeric antigen receptor T-cell (CAR T) construct with potential applications in B cell-driven autoimmune diseases, including lupus nephritis, systemic sclerosis and inflammatory myopathies.

Kyverna secured rights to KYV-101 from the National Institutes of Health (NIH) for autologous and allogeneic CAR T-cell therapies.

Kyverna will also use the most recent funding to further the development of KYV-201, an investigational candidate that integrates its CD19 CAR T construct with Intellia’s (NSDQ:NTLA) ex vivoCRISPR/Cas9-based allogeneic platform.

The company also intends to use its recent funding to bolster its development activiti…

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Intellia and Kyverna announce CAR-T pact

Genome editing company Intellia Therapeutics (NSDQ:NTLA) and cell therapy firm Kyverna Therapeutics have entered into a licensing and collaboration agreement to develop an allogeneic CD19 chimeric antigen receptor (CAR) T-cell therapy for various B cell-mediated autoimmune diseases.

Under the terms of the agreement, Intellia (Cambridge, Massachusetts) will get an equity stake in Kyverna (Emeryville, California) and has made an additional investment in the company. In exchange, Kyverna will get exclusive rights to use Intellia’s platform to develop KYV-201, an investigational CD19 CAR-T cell therapy.

Under the deal, Intellia also can exercise an option to manage U.S. commercialization activities related to KYV-201 in partnership with Kyverna. In such an arrangement, Intellia would pay an opt-in fee and cover half of the development costs while sharing half of the future U.S. revenue related to the drug. Additionally, Intellia would also get royalties on net sale…

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