Equillium Adds Three Drugs To Its Pipeline Via Bioniz Acquisition

Vandana Singh
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Equillium Inc (NASDAQ: EQ), with only one asset in its pipeline, is expanding its drug development efforts via the acquisition of Bioniz Therapeutics. The deal, worth approximately $330 million, gives the biotech access to three therapeutics.

  • Equillium will buy Bioniz in an all-stock deal for around 5.69 million shares and up to $57.5 million in development biobucks. The deal is further backloaded by up to $250 million in commercial milestone payments.

  • Bioniz's cytokine inhibitor BNZ-1 completed a Phase 1/2 study in cutaneous T-cell lymphoma (CTCL), meeting its primary objective of safety and tolerability.

  • The drug is being considered for a Phase 2/3 trial in CTCL and a midstage study in alopecia areata, or balding.

  • The acquisition also gives Equillium access to BNZ-2, an inhibitor of IL-15 and IL-21, that is ready for a phase 1 trial in patients with celiac disease.

  • Further, Bioniz has BNZ-3, another IL-15 and IL-21 inhibitor in preclinical development for potential use in treating gastrointestinal inflammation.

  • Equillium is testing itolizumab in acute graft-versus-host disease and lupus nephritis.

  • Last month, the Company decided to stop testing the drug in patients with uncontrolled asthma despite passing safety and tolerability in a phase 1b trial.

  • Price Action: EQ shares are up 3.50% at $4.14 during the market session on the last check Wednesday.

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