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- Biotech & Pharma Updates | February 11 - 12, 2023
Biotech & Pharma Updates | February 11 - 12, 2023
🧬 Novo Nordisk plans Ireland facility expansion to produce Wegovy pill for overseas markets beyond US, CARsgen Therapeutics signs agreements for RMB370M CAR-T manufacturing base expansion in Shanghai's Jinshan District, Evommune announces $125M private placement - advancing clinical programs for inflammatory diseases, Astellas settles Myrbetriq patent litigation with Lupin and Zydus for $210 million combined upfront payments, Nxera Pharma + Centessa Pharmaceuticals milestone triggers $1.8M payment for orexin receptor agonist ORX489

Novo Nordisk plans Ireland facility expansion to produce Wegovy pill for overseas markets beyond US. | Gif: johnstonmooneyobrien on Giphy
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✅ The Good News ✅
THE GOOD
Approvals & Labels
Agilent's PD-L1 diagnostic wins FDA approval alongside Merck & Co.'s Keytruda for ovarian cancer patient identification
Antibody, cancer, monoclonal antibody, ovarian cancer, PD-L1 target, companion diagnostic - Read more
FDA approves Novocure's Optune Pax wearable device for locally advanced pancreatic cancer treatment
Device therapy, cancer, tumor treating fields, pancreatic cancer, combination therapy - Read more
THE GOOD
Business Development & Partnerships
Nxera Pharma, Centessa Pharmaceuticals milestone triggers $1.8M payment for orexin receptor agonist ORX489
Research collaboration, neurological, small molecule, milestone payments - Read more
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✅ More Good News ✅
THE GOOD
Clinical Trials
Lundbeck's bocunebart (PACAP-targeting antibody) meets Ph2 primary endpoint for migraine prevention in treatment-resistant patients
Monoclonal antibody, neurological, migraine prevention, PACAP target, treatment-resistant patients - Read more
BridgeBio Pharma's infigratinib FGFR3 inhibitor shows impressive Ph3 results in achondroplasia, enabling regulatory filing
Small molecule, rare disease, FGFR3 inhibitor, achondroplasia, pediatric population - Read more
THE GOOD
Company Incubation
European Life Sciences Coalition launches in Brussels to strengthen Europe's biotechnology venture capital investment ecosystem
Investment ecosystem, strategic, financial, venture capital - Read more
THE GOOD
Earnings & Finances
Alnylam Pharmaceuticals achieves first-ever profitability with $314M net income despite disappointing Amvuttra Q4 revenue
RNAi therapeutics, cardiovascular, financial, profitability milestone - Read more
THE GOOD
Fundraises
LEON raises undisclosed financing for global LNP manufacturing scale-up systems
Platform technology, CDMO, manufacturing, RNA therapeutics - Read more
OKYO Pharma raises $20M public offering, developing therapies for neuropathic corneal pain
Ophthalmology, clinical-stage, neuropathic pain, inflammatory diseases - Read more
Evommune announces $125M private placement, advancing clinical programs for inflammatory diseases
Clinical-stage, autoimmune, chronic inflammatory diseases - Read more
Coherus Oncology raises $50.1M public offering, commercializing LOQTORZI and clinical development
Oncology, antibody, clinical-stage, commercialization - Read more
THE GOOD
Investments
Novo Nordisk plans Ireland facility expansion to produce Wegovy pill for overseas markets beyond US
Small molecule, obesity, strategic, investment - Read more
CARsgen Therapeutics signs agreements for RMB370M CAR-T manufacturing base expansion in Shanghai's Jinshan District
CAR-T, oncology, strategic, major transaction, operational - Read more
THE GOOD
Lawsuits
Astellas settles Myrbetriq patent litigation with Lupin and Zydus for $210 million combined upfront payments
Small molecule, urological, strategic, major transaction, patent settlement - Read more
Samsung Bioepis, Regeneron settle Eylea biosimilar patent dispute, enabling US launch January 2027
Licensing deal, ophthalmology, biosimilar, antibody - Read more
THE GOOD
Market Reports
Novo Nordisk's oral Wegovy attracts 36% new GLP-1 patients since December approval, expanding market access
GLP-1 agonist, obesity, strategic, market expansion - Read more
THE GOOD
Product Launches
Terray Therapeutics debuts EMMI Predict:TerraBind AI model with 20% better accuracy than leading competitors
Small molecule, AI drug discovery, operational, competitive - Read more
THE GOOD
Regulatory
FDA removes boxed warnings from six menopausal hormone therapy products after comprehensive scientific review
Hormone therapy, women's health, regulatory, operational - Read more
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❌ The Bad News ❌
THE BAD
Earnings & Finances
CSL replaces CEO after net profit plummets from $2B to $384M amid restructuring costs
Iron replacement therapy, kidney disease, financial, operational, strategic - Read more
THE BAD
Lawsuits
AbbVie sues HHS and CMS alleging Botox wrongly included in drug price negotiation program as plasma-derived product
Botulinum toxin, neurological, regulatory, pricing pressure - Read more
THE BAD
Layoffs
Seres Therapeutics lays off 30% workforce, pauses SER-155 phase 2 trial amid funding constraints
Microbiome therapy, infectious disease, operational, cost reduction - Read more
THE BAD
Regulatory
PTC Therapeutics withdraws FDA application for Translarna (ataluren) in nonsense mutation Duchenne muscular dystrophy
Protein therapy, neurological, nonsense mutation Duchenne muscular dystrophy, protein restoration therapy, ataluren - Read mode
👹 The Ugly News 👹
THE UGLY
Earnings & Finances
Icon shares plummet 37% after CRO launches accounting investigation, withdraws 2025 guidance over revenue overestimates
CRO services, financial, operational, major transaction - Read more
You’re all caught up on the latest Pharma & Biotech News!
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