PMC Group: CCM Biosciences breaks out of stealth with $25M; Two biotechs merge, to focus on Parkinson's

CCM Biosciences launched out of stealth Tuesday, touting ten drug programs and more than $25 million raised from Series A1 and A2 rounds. CCM has a partnership with PMC Group, which is handling chemistry, manufacturing and controls for the biotech's programs. CCM CEO and co-founder Raj Chakrabarti is also the president of PMC Group International, according to a media release. A company presentation this month detailed some of CCM Biosciences' drug programs, including targeting nonsense mutations, EGFR and KRAS for cystic fibrosis, drug-resistant non-small cell lung cancer and pancreatic cancer. CCM Biosciences is looking at developing treatments for NASH, Duchenne muscular dystrophy, Parkinson's disease and Alzheimer's. Two biotechs merge in all-stock deal, pivots to preclinical Parkinson's candidate Serina Therapeutics is merging with aging-focused biotech AgeX Therapeutics, the companies revealed Wednesday. Serina will combine with an AgeX subsidiary in the all-stock deal. AgeX shareholders will own close to 25% of the combined company, and Serina stockholders will control the other roughly 75%, under the Serina name. An additional $25 million in capital - $10 million from a loan note and $15 million from a cash exercise requirement from AgeX shareholder Juvenescence - is expected to last the biotech into 2026. The combined company is focused on Serina's lead candidate, SER-252, which being investigated to treat advanced Parkinson's disease. The goal is to submit an IND to start a Phase I trial in the fourth quarter of next year. "We believe this transaction with Serina presented the most compelling option for our stockholders," AgeX interim CEO and chairperson Joanne Hackett said in a statement, saying the company had examined multiple strategic alternatives. Cybin to acquire Small Pharma in all-stock move Canada psychedelics biotech Cybin announced Monday that it is acquiring London-based Small Pharma, which also focuses on psychedelics. The companies said shareholders of Small Pharma will get 0.2409 shares of Cybin for each share Small Pharma they own. As of Aug. 28, Cybin shareholders will own around 74.5% of the company, with Small Pharma stock owners owning the other 25.5%. Both board of directors have signed off on the deal. Cybin CEO Doug Drysdale said the combined portfolios put the company in a position to build "long-term value" for shareholders. The acquisition comes months after Small Pharma laid off one-third of its workforce and co-founder and former CEO Peter Rands left the company.