All-stock merger will create new company owned 75% by Adaptimmune’s shareholders. Grifols, Selagine to explore antibody approach to treating dry eye disease, and other recent deals.

The recent US approval of Ferring’s microbiome-targeting Rebyota is set to change the treatment landscape for recurrent Clostridioides difficile infection and could be the proving ground for this class of agents. Rebyota is the first microbiome-targeting treatment to reach the market, but several promising candidates for the same indication are waiting in the wings.

The company said it would discontinue the Phase III trial of the MRSA drug for futility, leaving it with no major catalysts and an uncertain cash position.

A new research program exploring an additional indication for XF-73 will help the UK biotech's licensing discussions for the nasal gel.