| |JULY 20238TOP STORIESI-Mab, a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, announced the positive outcome of its arbitration with Tracon Pharmaceuticals (Tracon) relating to (1) the collaboration agreement to co-develop I-Mab's proprietary CD73 antibody, uliledlimab (TJD5) (the "TJD5 Agreement"), and (2) the collaboration agreement to potentially co-develop I-Mab's bi-specific antibodies (the "BsAb Agreement").The arbitration ruling brought an end to the multi-year dispute between I-Mab and Tracon. The judgement concluded that the TJD5 Agreement was terminated for a pre-agreed termination fee of $9 million plus interest owed by I-Mab under the original TJD5 Agreement, and Tracon has no rights to share any future economics with I-Mab as a result. The arbitration ruling entirely rejected Tracon's baseless damages claim of more than $200 million for any breach of the BsAb Agreement and awarded Tracon no damages. The Tribunal also confirmed the BsAb Agreement's cancellation. According to the arbitration ruling, I-Mab will be responsible for a part of Tracon's legal fees and costs, which total nearly $13.5 million.Through accelerated clinical development and ongoing worldwide partnership conversations, the resolution is critical for I-Mab to maintain and further realise the value of uliledlimab and the bi-specific antibody repertoire. PONkure Therapeutics, an NK cell therapy startup, has announced the completion of its pre-Series A round, in which Endiya Partners, Kotak Investment Advisors, Featherlite, and a few angel investors participated. Nkure intends to use the funds to finish its production methods and preclinical investigations in preparation for its scheduled IND application. This groundbreaking work gets the firm closer to its goal of providing world-class CAR-NK cell therapy to cancer patients in India at a reasonable cost.Nkure, situated in Bengaluru, was formed in 2022 by a scientist, Dr Mahendra Rao, who was previously the founding director of the NIH's Centre for Regenerative Medicine. A highly experienced team of scientists from the Centre for Cellular and Molecular Platforms (CCAMP) and business leaders with a track record of co-founding some of India's best healthcare start-ups back the company.From its first year of operation, the company has successfully created an NK cell platform at laboratory size, as well as agreements with CDMOs in India and the United States. It has also obtained exclusive licences to a specialised CAR and related technology, making it the first of its kind in India. It has also received support from the Government of India's Department of Biotechnology. POI-MAB DECLARES POSITIVE OUTCOME IN ARBITRATION RELATING TO AGREEMENTS WITH TRACON PHARMANKURE RAISES A PRE-SERIES A FINANCING TO FINALISE MANUFACTURING METHODS & PRECLINICAL INVESTIGATIONS FOR THEIR EXPECTED IND APPLICATION
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