Merger activity and biosimilar dealmaking converged this week as biotech companies across immunology and neurology moved to consolidate pipelines and expand commercial reach.

Chemomab and Scipher Medicine to merge

Chemomab Therapeutics and Scipher Medicine Corporation entered into a definitive merger agreement to combine in an all-stock transaction, with the resulting company expected to trade on Nasdaq under the ticker symbol "SCIP."

The merger deal is expected to close in the fourth quarter of 2026, pending shareholder approval and other customary conditions.¹ A concurrent financing commitment of approximately $30 million in gross proceeds from a syndicate led by Northpond Ventures, with participation from Khosla Ventures, Blue Owl Healthcare Opportunities, funds managed by Neuberger, and others is expected to fund combined company operations through the second half of 2028.¹

Under the merger terms, pre-merger Chemomab equity holders are expected to own approximately 32% of the combined company on a fully diluted basis, with pre-merger Scipher holders owning approximately 68%.¹ Chemomab shareholders are also set to receive contingent value rights tied to specified milestones related to nebokitug. Chemomab co-founder and CEO Adi Mor, PhD, is expected to join the combined company's board of directors, while Scipher CEO Dr. Reginald Seeto will lead the merged entity.¹

The strategic rationale centers on nebokitug, Chemomab's first-in-class anti-CCL24 antibody, which the combined company plans to advance into a Phase II trial for rheumatoid arthritis, with a topline readout expected in the first half of 2028.¹ Scipher's AI Network Medicine Platform independently identified CCL24 as the highest-ranked clinical-stage RA target for efficacy, lending external validation to the asset.

The planned Phase II study is set to incorporate Scipher's PrismRA multimodal, multi-omic precision medicine test to guide patient enrollment, a design the companies say could help identify patients most likely to respond, targeting what they describe as a $24 billion RA market.

"There have been no new novel mechanisms approved in RA by the FDA since 2012, and no new branded FDA approvals in RA since 2019," said Dr. Seeto. "Nebokitug, which blocks the chemokine CCL24, represents a unique dual acting mechanism in RA as it targets both inflammation and fibrosis."

Mor framed the deal as an opportunity to unlock value across multiple dimensions. "We believe this merger provides our shareholders a compelling potential opportunity to realize value through the clinical advancement of nebokitug in a large indication with substantial unmet need and well-established clinical endpoints, as well as through Scipher's revenue-generating precision medicine business and its strong biopharma partnerships."

Beyond RA, the companies noted the continued opportunity to secure a Phase III partner for nebokitug in primary sclerosing cholangitis, an indication with no FDA-approved therapies.

Teva and Polpharma Biologics enter global licensing agreement

Teva Pharmaceutical Industries, through its subsidiary Teva Pharmaceuticals International GmbH, entered into a global licensing agreement with Polpharma Biologics International AG granting Teva exclusive commercialization rights to Polpharma's proposed biosimilar Ocrevus (ocrelizumab) upon regulatory approval.²

"With our global commercial footprint and deep expertise in complex medicines, we are well positioned to help bring this biosimilar candidate to patients," said Yolanda Tibbe, vice president and global head of Biosimilars at Teva.

The agreement covers both the intravenous and subcutaneous formulations of the biosimilar candidate across the United States, Europe, Brazil, Canada, Australia, New Zealand, Israel and Turkey. Under the terms, Polpharma Biologics will retain full responsibility for development and manufacturing, while Teva will handle regulatory submissions and, upon approval, commercial launch across the covered markets.²

Ocrelizumab is a humanized monoclonal antibody targeting CD20-positive B cells indicated for relapsing forms of multiple sclerosis and primary progressive multiple sclerosis. In the U.S., the intravenous formulation is marketed as Ocrevus and the subcutaneous formulation as Ocrevus Zunovo; in the EU, both carry the Ocrevus brand name.

"This agreement reflects our focus on pushing high-quality biologics to the finish line efficiently and at scale," said Anjan Selz, CEO of Polpharma Biologics International AG. "Teva brings reach, discipline and real commercial strength to our strategic collaboration."

Sources

1. Chemomab Therapeutics and Precision Medicine Pioneer Scipher Medicine Announce Merger Agreement to Advance Nebokitug in an AI-Powered Phase 2 Trial in Rheumatoid Arthritis Chemomab Therapeutics July 8, 2026 https://www.globenewswire.com/news-release/2026/07/08/3323986/0/en/chemomab-therapeutics-and-precision-medicine-pioneer-scipher-medicine-announce-merger-agreement-to-advance-nebokitug-in-an-ai-powered-phase-2-trial-in-rheumatoid-arthritis.html
2. Teva and Polpharma Biologics Announce Global Licensing Agreement for a Biosimilar Candidate to Ocrevus® (ocrelizumab) for Multiple Sclerosis Polpharma Biologics International July 9, 2026 https://www.businesswire.com/news/home/20260709701277/en/Teva-and-Polpharma-Biologics-Announce-Global-Licensing-Agreement-for-a-Biosimilar-Candidate-to-Ocrevus-ocrelizumab-for-Multiple-Sclerosis