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The Latest Biotech & Pharma Updates
Biotech & Pharma Updates | November 11 - 12, 2024
Trace Neuroscience launches with $101M and ALS therapy goals, Apollo Therapeutics buys ex-China rights to Sunshine Lake Pharma diabetes clinical asset, Alentis Therapeutics $181.4M Series D to accelerate ADC pipeline, AstraZeneca plans $3.5B & 1000+ jobs investment in the US, Roche & Flare Therapeutics collaborate on cancer drug discovery, Intercept Pharmaceutical’s full Ocaliva approval rejected by FDA, Neurogene stock collapses after Rett syndrome gene therapy serious adverse event, Bayer’s CEO calls Q3 earnings “not pretty”, Pfizer considers hospital drugs business divestiture as activist investor pressure continues, AstraZeneca’s CEO says they didn’t “lose oversight” regarding Chinese executive criminal investigations
Biotech & Pharma Updates | November 10 - 11, 2024
AbbVie may be feeling buyer's remorse as $8.9B Cereval buy delivers two Ph2 misses, IDEAYA Biosciences exercises licensing option for Biocytogen ADC asset, Novavax flu, COVID-19 vaccines clinical holds lifted, Novelty Nobility $24.8M Series C for solid tumour ADCs, Evotec becomes alleged acquisition target of PE firm Triton Partners, Doctors Without Borders pushes insulin pen makers to offer $1 pens in low and middle-income countries, 23andMe cuts 40% of their staff, Cigna denies considering Humana acquisition, Rapt Therapeutics drops autoimmune small molecule after negative FDA feedback
Biotech & Pharma Updates | November 7 - 10, 2024
Autolous Therapeutic’s leukemia CAR-T nabs FDA approval, AstraZeneca & Amgen tout Tezspire Ph3 data in rhinosinusitis, Travere Therapeutics proposed $125M public offering, AlloVir attempts comeback with Kalaris Therapeutics merger, Daiichi Sankyo and Alteogen partner on subcutaneous Enhertu development, Neurotech’s NT-501 PDUFA date pushed back by 3 months, Allogene reports 3 patient deaths in ALLO-316 Ph1, Eisai cuts full-year Leqembi forecast by $91M, Charles River Labs to close “15 smaller sites”, Genentech drops Nykode Therapeutics cancer vaccine partnership, FDA bans Chinese API manufacturer due to insufficient GMP compliance evidence
Biotech & Pharma Updates | November 6 - 7, 2024
Avid Bioservices goes private for $1.1B, Evotec sells a CDMO site to Monacum Partners, Oblenio Bio launches from Aditum Bio & Leads BioLabs initiative, Gilead posts strong Q3 earnings, JP Morgan looking to raise a later-stage life science fund, Pfizer to invest $1B in China over next 5 years, ADC Therapeutics’ cuts solid tumour hopeful after poor Ph1b showing, Teva Pharmaceuticals stock drops despite Q3 performance, Viracta cuts 42% of staff as part of “resource reprioritization”, Genmab drops development of three cancer-focused antibodies, 72% of biomedical research believe the field is facing a reproducibility crisis
Biotech & Pharma Updates | November 5 - 6, 2024
Incoming Trump admin may be boon to dealmaking but bane to regulatory, Regeneron & Sanofi’s Dupixent lands pediatric approval in Europe, Acadia Pharmaceuticals sells priority review voucher for $150M, Novo Nordisk reports stellar Q3 earnings, Tevogen leverages Microsoft AI partnership to develop allogeneic T-cell therapies, vaccine coalition (including Gavi and WHO) allocate nearly 900k mpox vaccine doses to 9 African countries, Tango Therapeutics glioblastoma hopeful falls flat in Ph1/2 trial, Novo Nordisk decides to abandon chronic kidney disease clinical asset after July Ph3 failure
Biotech & Pharma Updates | November 4 - 5, 2024
Zealand Pharma Ph1 obesity data with less nausea, AstraZeneca plans Ph2b trials for Eccogene licensed obesity hopeful, Vertex beats Q3 analyst expectations, PrognomiQ $34M Series D for early lung cancer detection, Cerebral agrees to $3.7M settlement over unauthorized ADHD/controlled substance prescriptions, Nxera Pharma & Antiverse collab on AI-powered antibody therapeutic design, Merus & Organon both face FDA approval decision delays, Beam Therapeutics first set of sickle cell base editing data includes a patient death (likely due to conditioning regimen), Verrica Pharmaceuticals stock plummets after Q3 results, Sana Biotechnology pivot results in layoffs, AstraZeneca shares take a big hit after speculative reports released on China employee investigations
Biotech & Pharma Updates | November 3 - 4, 2024
Viking’s obesity pill data gets a cold reception, Novo Nordisk’s Wegovy may reduce all-cause hospital admissions according to new Ph3 analysis, BioNTech Q3 earnings beat analyst expectations but 2024 outlook takes a hit, Neurogene PIPEs in $200M, NLS Pharmaceutics & Kadimastem agree on merger, Novo Nordisk partners with Ascendis Pharma on GLP-1 delivery tech, FDA makes Rare Disease Innovation Hub progress, Sun Pharma’s Leqselvi launch delayed by Incyte-instigated injunction over alleged patent infringement, Mark Cuban’s Cost Plug Drugs hit with FDA Form 483
Biotech & Pharma Updates | October 31 - November 3, 2024
Novo Nordisk’s semaglutide reports a sMASHing Ph3, CARSgen Therapeutics' CAR-T assets get FDA clinical hold removed, Garuda Therapeutics nabs $47M and a new CEO, Generic drugmakers Apotex and Heritage Pharmaceuticals pay $49.1M price-fixing settlement, FDA reconsiders CAR-T black box warnings on secondary cancer risk, Roche mulls “speedy path” to trontinemab approval (Ph3 data pending), ESSA Pharma halts prostrate cancer Ph2 after futility analysis, Regeneron stock sinks nearly 10% after Eylea’s future sales potential comes into doubt, Maven Clinic cuts 10% of their staff a month after raising $125M
Biotech & Pharma Updates | October 30 - 31🎃, 2024
Compass Pathways delays psychedelic trial read outs and lays off 30% of workforce, Hutchmed nabs $20M commercial milestone payment from AstraZeneca, BMS reports a smashing Q3, Amgen reports strong Q3 in-part from commercial assets from $27.8B Horizon Therapeutics acquisition, Evommune $115M Series C to go after urticaria (hives), US District Court judge backs FDA in Avadel Pharmaceuticals - Jazz Pharmaceuticals cataplexy spat, Gilead & AbTherx collaborate on antibody discovery tech, Equillium stock craters on Ono Pharmaceutical letting asset rights option expire, Merck posts disappointing Q3 earnings, Matinas BioPharma cuts 80% of workforce as lead asset partnering negotiations fall through, Baxter exits China IV fluids market, Teva’s anti-competitive shenanigans result in €463M ($502M) fine from European Commission
Biotech & Pharma Updates | October 29 - 30, 2024
Biogen’s up to $1.45B molecular glue degrader deal with Neomorph, Roche posts promising Ph1b/2a amyloid plaque clearing bispecific data, Archon Biosciences launches with $20M seed and dreams of “antibody cages”, the sky is the limit for AbbVie’s Skyrizi after Q3 earnings, Axonis $115M Series A to go after pain & epilepsy, Blue Earth Therapeutics $76.5M Series A for next-gen radioligands, Servier & Aitia expand digital twin-driven glioma drug discovery partnership, Eli Lilly’s GLP-1 earnings fly too close to the sun, Spero Therapeutics cuts 39% of workforce after antibiotic disappoint, Eli Lilly & GSK both cut assets from multi-billion dollar acquisition, AstraZeneca’s China operations president under Chinese authority investigation
Biotech & Pharma Updates | October 28 - 29, 2024
Pfizer beats Q3 earning estimates, Novartis’ Scemblix scores first-line accelerated nod, GSK buys bispecific asset from Chimagen Biosciences, Eli Lilly reduces Kisunla-induced brain swelling with modified dosing regimen, Pathos AI $62M Series C for AI-driven cancer asset assessment & patient recruitment, Crescent Biopharma reverse merger with GlycoMimetics, Iambic Therapeutics launches “Enchant”ing predictive clinical outcome AI, GemVax & KAEL’s progressive supranuclear palsy peptide's Phase 2 miss, Novartis writes down $800M of $2.9B MorphoSys acquisition, Neurocrine and Idorsia officially part ways two years after epilepsy med Phase 2 failures, brace yourselves for a potential RFK Jr.-influenced FDA
Biotech & Pharma Updates | October 27 - 28, 2024
AbbVie buys Aliada Therapeutics for cool $1.4B, Novartis buys molecular glue degraders from Monte Rosa for $150M upfront + $2.1B biobucks, WuXi AppTec still signing new clients despite Biosecure threat, J&J & Eli Lilly both post positive Ph3 Crohn’s data, Kivu Biosciences launches with $92M and “kinder, gentler ADC” tech, EyePoint Pharmaceuticals make clinical comeback with “high quality” Ph2 diabetic macular edema data, FogPharma rebrands to Parabilis Medicines, Astellas withdraws Europe Izervay approval application, ComBiGene conducts dreaded “strategic evaluation”, Prime Medicine CSO publicly calls out Tessera Therapeutics at European CGT meeting