AstraZeneca’s $40M deal with Allorion; Apollo raises $33M; Xoma’s stock buyback

An­oth­er Chi­na-US deal for As­traZeneca: The British drug­mak­er is pay­ing $40 mil­lion up­front to Al­lo­ri­on Ther­a­peu­tics to de­vel­op the com­pa­ny’s L858R mu­tat­ed al­losteric in­hibitor as a po­ten­tial treat­ment for EGFR-mu­tant non-small cell lung can­cer. The agree­ment al­so in­cludes more than $500 mil­lion in mile­stones. Last week, As­traZeneca an­nounced plans to buy Gra­cell Biotech­nolo­gies for $1 bil­lion.

Apol­lo Ther­a­peu­tics raised an ad­di­tion­al $33.5 mil­lion, bring­ing its Se­ries C round to $260 mil­lion. The fi­nanc­ing, which was led by Pa­tient Square Cap­i­tal, is ex­pect­ed to help progress Apol­lo’s pipeline.

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