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  • Biotech & Pharma Updates | August 20 - 21, 2024

Biotech & Pharma Updates | August 20 - 21, 2024

GondolaBio launches with $300M and three BridgeBio assets, Retension Pharmaceuticals $10.4M Series A, Roche expands mpox PCR testing acces, Celaid and Tokyo Medical and Dental University stem cell R&D collab, Regeneron's myeloma bispecific rejected by FDA over manufacturing concerns, Windtree Therapeutics running low on cash, Aadi Bioscience decimates R&D department, biopharma execs embrace sustainability but significant hurdles exist, and Astellas employee indicted in China on espionage charges

All the top Biotech & Pharma news in one daily newsletter.

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⬇️ The Good News ⬇️

THE GOOD
Clinical Trials

Innovo Therapeutics posts promising Ph2 post-thyroidectomy scar reduction with INV-001
Small molecule, post-thyroidectomy scar reduction - Read more

Annexin Pharmaceuticals’ touts promising Ph2 data for ANXV asset in eye disease retinal vein occlusion
Recombinant protein, retinal vein occlusion - Read more

Egetis Therapeutics paints survival benefits picture in rare disease MCT8 deficiency by Emcitate in retrospective cohort study
Small molecule, MCT8 Deficiency/Allan-Herndon-Dudley Syndrome (AHDS) - Read more

Novi Technology Beijing claims first Ph1 HPV HSIL patient dosed with NWRD08 achieved “negative viral conversion and cleared lesions”
Nucleic acid, DNA vaccine, high-grade squamous intraepithelial lesion (HSIL), human papillomavirus (HPV), cancer - Read more (Original Press Release in Chinese)

THE GOOD
Company Launches

GondolaBio sets upon the water (or ascends the snowy mountain) with $300M and three rare disease assets from BridgeBio
Genetic disease, erythropoietic protoporphyria, alpha-1 antitrypsin deficiency, tuberous sclerosis complex - Read more

Ambrosia Biosciences launches with $16M Series A, comprised of former Pfizer and acquisition Array BioPharma’s team members from shuttered Boulder, CO’s research site
Small molecule, drug discovery - Read more

THE GOOD
Fundraises

Vandria CHF 28.3M ($30.7M) second Series A
Small molecule, mitochondrial therapeutics, aging, chronic disease - Read more

PreciseDx $20.7M Series B
AI-based breast cancer risk assessment, oncology diagnostics - Read more

Retension Pharmaceuticals $10.4M Oversubscribed Series A
Small molecule, resistant and uncontrolled hypertension - Read more

UC San Diego, UPenn nab $6.9M grant from the National Institute of Aging to move potential Alzheimer’s med CNDR-51997 into clinical trials
Small molecule, Alzheimer’s disease, neurodegenerative disease - Read more

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⬇️ The Good News (Cont’d) ⬇️

THE GOOD
Investments

Sun Pharma to invest up to $15M in Pharmazz to support Sovateltide Ph3 trial
Polypeptide, acute cerebral ischemic stroke - Read more

THE GOOD
Market Reports

$3.3B in medtech capital investment in Q2, down from $3.5B (7% decline) in Q1 but up by 3.2% YoY; Pitchbook
Medical device, capital investment, venture capital - Read more

THE GOOD
Mergers & Acquisitions

Supreme Group buys life science marketing & PR agency BioStrata
Life science marketing, public relations, digital marketing - Read more

THE GOOD
Partnerships

Dr. Reddy’s Laboratories, Aurigene Pharmaceutical Services, Kainomyx “potential” affordable anti-malarial drug development partnership
Drug development, CRDMO, malaria, low- and middle-income countries - Read more

Celaid Therapeutics, Tokyo Medical and Dental University (TMDU) sign research agreement involving gene-modified cell therapies using human bone marrow-derived hematopoietic stem cells (HSCs)
Gene-modified cell therapy, hematopoietic stem cell therapy - Read more

VVector Bio, Revvity, Abselion R&D collab to revolutionize viral vector manufacturing
Viral vector manufacturing, HEK-293 cell line - Read more 

THE GOOD
Public Health

Roche expands access to mpox PCR testing to combat ongoing Public Health Emergency
Polymerase chain reacton, viral detection, monkeypox (mpox) - Read more

THE GOOD
Research

Merck & Co.’s ebola vaccine Ervebo offered “substantial” protection during 2018-2020 Africa outbreak; study
Ebola vaccine, infectious disease - Read more [Paywall]

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⬇️ The Bad News ⬇️

THE BAD
Approvals & Labels

Regeneron Pharmaceuticals’ myeloma bispecific (temporarily) snubbed by FDA over manufacturing issues at third-party fill-finish site
Bispecific antibody, myeloma, cancer - Read more

THE BAD
Clinical Trials

Timber Pharmaceuticals’ (LEO Pharma subsidiary) TMB-001 asset misses all Ph3 endpoints
Small molecule, topical, autosomal recessive congenital ichthyosis (ARCI), X-linked recessive ichthyosis (XLRI) - Read more

THE BAD
Earnings & Finances

Windtree Therapeutics faces harsh reality as coffers could soon run dry; $1.8M in cash and equivalents remaining at end of June
Small molecule, early cardiogenic shock, acute decompensated heart failure - Read more

Indian CDMOs temper business growth expectations if Biosecure bill passes
CDMO, Biosecure Act - Read more [Paywall]

THE BAD
Lawsuits

AMAG Pharmaceuticals loses insurance claim bid against American Guarantee and Liability Insurance Company (AGLIC) regarding Makena manufacturing incident at Pfizer site in 2017
Small molecule, preterm birth, manufacturing - Read more

THE BAD
Layoffs

Aadi Bioscience cuts 80% of R&D staff (22 staffers, 32% of total workforce)
Small molecule, nanoparticle, solid tumor, cancer - Read more

THE BAD
Opinions

According to biopharma execs, significant hurdles still exist on journey to sustainability; survey
Biopharma sustainability - Read more

THE BAD
Strategic Plans

Walgreens may be feeling buyers remorse just three years after $5.2B VillageMD takeover, mulls sales
Primary care services, value-based cared - Read more

Nykode Therapeutics discontinues C-04 trial and repositions VB10.16 asset; stock craters
DNA-based cancer vaccine, human papillomavirus (HPV), solid tumor, cervical cancer - Read more

⬇️ The Ugly News ⬇️

THE UGLY
Criminal Acts

Astellas employee indicted in China on spying allegations
Espionage, spying - Read more

THE UGLY
Research

New study details differing effects of long COVID in children, adolescents
Long COVID - Read more

Alzheimer’s meds lecanemab (Eisai, Biogen) and donanemab (Eli Lilly) may cause brain haemorrhage, swelling in Alzheimer’s patients with Down syndrome; postmortem study
Monoclonal antibody, Alzheimer’s disease, Down syndrome - Read more [Paywall]

THE UGLY
Withdrawals & Recalls

FDA continues warnings of potential aluminum toxicity in remaining Pfizer potassium injections
Small molecule, injectable - Read more [Paywall]

You’re all caught up on the latest Pharma & Biotech News!

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