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  • Biotech & Pharma Updates | August 25 - 26, 2024

Biotech & Pharma Updates | August 25 - 26, 2024

Cigna to (somewhat) ditch AbbVie's Humira for biosimilars in 2025, multiple European Commission approvals, UCB sells Chinese neurology and allergy business for $680M, Diakonos Oncology oversubscribed $11.4M seed raise, MBX Biosciences plans up to $100M IPO, Dexcom launches first OTC wearable glucose biosensor, EcoR1 wants to influence "deeply undervalued" Galapagos, and Lykos woes continue with FDA clinical study probe

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

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⬇️ The Good News ⬇️

THE GOOD
Approvals & Labels

Regeneron nabs European Commission approval for bispecific lymphoma med Ordspono
Bispecific antibody, lymphoma, cancer - Read more

SIFI lands European Commission approval for Akantior for rare corneal eye infection
Small molecule polymer, acanthamoeba keratitis - Read more

Celltrion’s SteQeyma (Stelara biosimilar, Janssen) receives European Commission approval
Monoclonal antibody, psoriasis, psoriatic arthritis, and Crohn's disease, autoimmune - Read more

Merck & Co.’s Winrevair scores European Commission approval for in hypertension
Fusion protein, pulmonary arterial hypertension - Read more

THE GOOD
Business Development

Singapore’s CBC Group and Abu Dhabi’s Mubadala buys UCB’s Chinese neurology and allergy business for $680M
Small molecule, allergy, seizure, Parkinson’s disease - Read more

Siemens Healthineers buys radiodiagnostic unit of Novartis subsidiary Advanced Accelerator Applications for $223M
Radiodiagnostics, radiopharma, PET scan - Read more

THE GOOD
Clinical Trials

Actinogen Medical partially salvages xanamem asset with secondary endpoint wins (in depression) despite primary endpoint miss (in cognitive function) earlier this month
Small molecule, cognitive dysfunction, major depressive disorder - Read more

PharmAust posts positive interim results for monepantel in treating ALS
Small molecule, amyotrophic lateral sclerosis - Read more

THE GOOD
Fundraises

Immorna Biotherapeutics $3.8M grant from Bill & Melinda Gates Foundation
Vaccine, mRNA, lipid nanoparticle, respiratory syncytial virus (RSV) - Read more

Diakonos Oncology closes oversubscribed $11.4M Seed round
Dendritic cell vaccine, glioblastoma, cancer - Read more

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⬇️ The Good News (Cont’d) ⬇️

THE GOOD
IPOs

MBX Biosciences aims for $100M IPO
Peptide prodrug, hypoparathyroidism, GLP-1/GIP, obesity - Read more

THE GOOD
Mergers & Acquisitions

Gentinge buys Paragonix Technologies for $477M
Organ transplant logistics & transportation - Read more

THE GOOD
Partnerships

Cessatech, Proveca ex-US commercialization partnership
Nasal spray, analgesic, planned painful procedures - Read more

Merck & Co. (MSD), GI Innovation clinical trial partnership, GI-102 in combo with Keytruda
Fusion protein, liver cancer, melanoma, carcinoma - Read more

Tonix Pharmaceuticals, Bilthoven Biologics mpox vaccine (TNX-801) development partnership
Vaccine, monkeypox (mpox) - Read more

BridgeBio Pharma, Cardiovascular Data Science Lab (CarDS Lab) partner on assessing ATTR-CM heart disease underdiagnosis
AI-powered diagnosis, transthyretin amyloid cardiomyopathy - Read more

THE GOOD
Product Launches

Dexcom launches first over-the-counter wearable glucose biosensor in the USA
Medical device, type 2 diabetes, biosensor - Read more

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⬇️ The Bad News ⬇️

THE BAD
Patient Access

Cigna’s Express Scripts PBM to drop Humira (AbbVie) in favour of biosimilars at its largest commercial formularies in 2025
Monoclonal antibody, autoimmune, arthritis, biosimilar, pharmacy benefit manager - Read more 

THE BAD
Politics & Policy

Johnson & Johnson, US Health Resources and Services Administration (HRSA) argue over former’s proposed 340B drug pricing program changes for Stelara and Xarelto
Monoclonal antibody, anti-inflammatory, small molecule, blood thinner, 340B drug pricing program - Read more

THE BAD
Strategic Plans

EcoR1 Capital makes moves to influence Galapagos direction, claiming biotech is “deeply undervalued”
CAR-T cell therapy, lupus, lymphoma, cancer, activist investor - Read more

Kyowa Kirin pulls Fareston from US market, citing “forward-looking strategy focusing on novel medicines with life-changing value“
Small molecule, breast cancer - Read more

⬇️ The Ugly News ⬇️

THE UGLY
Regulatory

FDA expands probe into Lykos Therapeutics-sponsored MDMA studies, investigating claims of underreported side effects
Small molecule, MDMA, psychedelic, depression - Read more

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

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