Alentis Therapeutics has secured $181.4 million in an oversubscribed Series D financing round to advance its antibody-drug conjugates targeting claudin-1 (CLDN1)-positive tumors and organ fibrosis. This funding, led by OrbiMed and supported by several investors, brings the total raised by the company to $366.4 million since its founding in 2018. Clinical data for its innovative therapies is expected within the next 12 to 18 months.
Sanofi's CEO, Paul Hudson, acknowledged "difficult discussions" with the French government regarding the sale of its OTC subsidiary, Opella, which markets Doliprane. The negotiations, under significant political pressure, resulted in commitments to maintain production in France and preserve jobs at local sites for at least five years. The French government will have a minor stake in Opella, ensuring governance without deterring foreign investment.
Sanofi is moving forward with a deal to sell a controlling 50% stake in its consumer health business, Opella, to Clayton Dubilier & Rice for approximately €16 billion ($17.3 billion). Bpifrance will hold a 2% minority stake, ensuring job security in France amid concerns over potential job losses. The transaction is expected to close by Q2 2025, allowing Sanofi to focus on its biopharmaceuticals.
The EU has established a €90 billion investors club to address the technology funding gap, with 71 investors including Atomico, EQT, and state-backed entities like Bpifrance and Invest-NL. A recent report highlights Europe's struggle to scale tech compared to the U.S. and China, marking it as a significant long-term challenge.
H4D, a pioneer in teleconsultation booths, has gone out of business due to an unsustainable business model and high operational costs, despite initial funding boosts and a surge in telemedicine during the pandemic. Local authorities struggled to make the sophisticated booths profitable, with low user engagement leading to only 300 consultations in 18 months in one village. As competition from cheaper alternatives grows, the telemedicine sector is still searching for a viable business model, with hopes for future growth amid regulatory changes.
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