Plus, news about Novocure and Corvus:
Context Therapeutics’ $100M PIPE: Nextech led the private placement, and other investors like Ally Bridge Group took part. The solid tumor biotech also said the FDA cleared human testing of the company’s bispecific antibody CTIM-76. — Kyle LaHucik
Blueprint Medicines raises sales guidance, stock jumps 15%: The company’s rare disease drug Ayvakit generated $92.5 million in revenue in the first quarter of 2024, and Blueprint is now raising its guidance on annual sales of the drug by $20 million to $410 million. The treatment’s label was expanded last year to a broader patient population that includes those with indolent systemic mastocytosis, a rare disease in which too many of a kind of white blood cell build up in the body. — Lei Lei Wu
Novocure inks up to $400M: The Swiss company lined up a five-year debt financing from Pharmakon. Proceeds are expected to help with an anticipated launch in non-small cell lung cancer and settle its convertible notes. — Kyle LaHucik
Corvus Pharmaceuticals to net $30M in stock sale: The biotech sold shares to its CEO Richard Miller, as well as Point72, Samlyn Capital, Armistice Capital and OrbiMed, among others. The company is currently developing a T cell lymphoma drug. — Lei Lei Wu