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The Latest Biotech & Pharma Updates
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
Biotech & Pharma Updates | October 24 - 27, 2024
Iterum nabs approval for UTI med, Eli Lilly posts positive Tremfya Ph3b data in plaque psoriasis, Dash Bio launches with $6.5M and a “technology-first approach”, Sanofi blasts past Q3 expectations thanks to Beyfortus, Agomab lands $89M Series D to progress fibrotic disease programs, GSK earmarks $800M for Pennsylvania facility expansions, Septerna’s smashing $288M IPO, Tessera touts new preclinical in vivo gene editing data, Elucida Oncology shuts doors, GenSight’s coffers weeks from running dry, UK's MHRA reminds people that GLP-1s aren’t for “Instagram"
Biotech & Pharma Updates | October 23 - 24, 2024
Roche, Dyno sign 2nd AAV delivery tech partnership, Merck & Co.’s Keytruda nabs 29th & 30th European approvals, Intellia gene-editing therapy delivers positive Ph2 data in hereditary angioedema, Interius doses first patient in Ph1 in vivo CAR-T/CAR-NK trial, Fable raises $53.5M for AI-developed obesity meds, Lyell Immunopharma acquires ImmPACT Bio to strengthen CAR-T pipeline, Viking Therapeutics accelerates development of obesity hopeful VK2735, Marinus Pharmaceuticals seeks “strategic alternatives” as stock craters due to failed Ph3, Eli Lilly & Eisai failed to disclosed elevated brain injury risk in certain participants of Leqembi, Kisunla trials, UnitedHealth collected billions from Medicare based on dubious diagnoses with no patient follow-up care
Biotech & Pharma Updates | October 22 - 23, 2024
Merck & Co. buys Modifi Biosciences for $30M upfront + $1.3B biobucks, Pfizer lands broader RSV vaccine approval, Eccogene scores $60M milestone payment from AstraZeneca, Alpha-9 Oncology’s $175M Series C, Ocuphire & Opus Genetics regional gene therapy-focused merger, Roche not overly concerned about impending Vabysmo biosimilar competition, Eli Lilly’s Kisunla handed cost-benefit thumbs down from UK’s NICE, Alto Neuroscience’s major depressive hopeful flops in Ph2b trial, Pfizer cuts more jobs in connection to failed DMD gene therapy, Roche’s CEO concerned for the little guy as Novo Holdings’ Catalent takeover looms
Biotech & Pharma Updates | October 21 - 22, 2024
Editas pivots fully to in vivo, Sangamo’s big Fabry disease gene therapy accelerated approval bet, Samsung Biologics beats own record with $1.2B manufacturing contract, Otsuka scores IgA nephropathy Ph3 win, Rice University launches biotech venture studio, AvenCell $112M Series B, Amgen preps Eylea biosimilar launch after Regeneron loses blocking bid, Camurus handed CRL due to 3rd party manufacturing issues, Starboard Value gets specific on Kenvue, Pfizer plans, US DOJ calls out J&J talc bankruptcy attempt as “bad faith”, FDA’s Robert Califf speaks out against obesity med pricing
Biotech & Pharma Updates | October 20 - 21, 2024
Catalent CEO quells concerns, Sanofi sells 50% consumer health stake, Novo Nordisk’s oral diabetes med cuts heart attack risk in Ph3, Pfizer’s tafamidis ICER recommendation “slightly less extreme”, Seaport Therapeutics $225M Series B, Recursion expands Google Cloud collaboration, Starboard Value takes aim at J&J consumer health spinout, Eli Lilly continues offensive over tirzepatide compounders, Takeda announces more layoffs
Biotech & Pharma Updates | October 17 - 20, 2024
Astellas lands gastric cancer approval, Poseida lands $15M milestone payment from Roche, LaNova Medicines $42.2M Series C1, REGiMMUNE & Kiji Therapeutics merger, Baxter to import 18k tons of IV solution to the US, BioNTech & OncoC4’s gotistobart Ph3 put under partial clinical hold, more calls to FTC to intervene in Novo Holdings’ takeover of Catalent, Gilead withdraws Trodelvy after failed confirmatory trial
Biotech & Pharma Updates | October 15 - 17, 2024
AbbVie’s Parkinson’s combo Vyalev nabs FDA approval, Novartis buys select global rights to small molecule anti-tumor asset, Wave Life Science’ RNA editing tech posts promising in-human data, KdT Ventures closes $100M fourth fund, Terray Therapeutics $120M Series B, OmniaBio opens new Canada-based CGT manufacturing site, FDA unveils rare disease innovation hub, Amgen's Lumakras faces delayed FDA decision, Kezar Life Sciences terminates Ph2b lupus trial, Takeda waves goodbye to Parkinson’s disease drug development collar with Wave Life Sciences