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  • Biotech & Pharma Updates | July 11 - 14, 2024

Biotech & Pharma Updates | July 11 - 14, 2024

AbbVie's Rinvoq label expansion application, semaglutide correlates with lowered dementia risks, IDEAYA Biosciences raises over $300M through public offering, two health SPACS launch with a combined $400M, Spark Therapeutics layoffs, and Big Pharma & PBMs play drug price blame game

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⬇️ The Good News ⬇️

THE GOOD
Approvals & Labels

AbbVie makes giant attempt for Rinvoq label expansion; applies for EMA and FDA approval
Small molecule, giant cell arteritis - Read more

THE GOOD
Clinical Trials

Immutep posts stellar Ph2b carcinoma clinical data
Protein, large molecule, head & neck cancer - Read more

Know Labs’ positive early clinical data for their needle-free glucose monitoring device
Medical device, glucose monitoring, diabetes - Read more

THE GOOD
Company Launches

ImmuneAGE Bio launches with $2M, HSC bone marrow drug discovery
Drug discovery, small molecule, hematopoietic stem cell, immune system - Read more 

THE GOOD
Fundraises

IDEAYA Biosciences raise over $300M in public offering after positive Ph2 solid tumor data
Small molecule, urothelial cancer, lung cancer - Read more

THE GOOD
Investments

Dynamic Cell Therapies handed $1M investment from Myeloma Investment Fund (MIF)
CAR-T cell therapy, multiple myeloma, cancer - Read more

THE GOOD
IPOs

SIM Acquisition I & Launch One Acquisition launch as both raised $200M, healthcare-focused SPACs
Healthcare investing, special purpose acquisition company - Read more

THE GOOD
Mergers & Acquisitions

Eli Lilly-invested healthcare VC Unseen Capital acquired by Seae Ventures
Venture capital, healthcare investing, marginalized communities - Read more

Merz Therapeutics is “keenly interested in acquiring late-stage assets in rare neurology”
Small molecule amino acid, Parkinson’s, multiple sclerosis (MS) - Read more

THE GOOD
Opinions

Rising tide lifts all boats; Pfizer’s oral small molecule obesity announcement lifts Viking Therapeutics and Terns Pharmaceuticals stocks
Small molecule, obesity - Read more

THE GOOD
Research

Another potential W for Novo Nordisk’s Ozempic, as regular semaglutide use linked with lower dementia risk in those with Type 2 diabetes
GLP-1, diabetes, dementia - Read more

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⬇️ The Bad News ⬇️

THE BAD
Layoffs

Spark Therapeutics loses spark for laid off R&D staff
Gene therapy, structural reorg - Read more

THE BAD
Market Reports

Biosimilars continue chipping away at AbbVie’s Humira dominance
Monoclonal antibody, autoimmune, biosimilar - Read more

At least one analyst firm isn’t bullish on Bristol Myers Squibb’s future - Read more

⬇️ The Ugly News ⬇️

THE UGLY
Patient Access

Not so fast; Big Pharma isn’t off the drug price hook, even as the FTC hammers down on PBMs
Drug pricing, Federal Trade Commission, Pharmacy Benefit Manager - Read more

THE UGLY
Politics & Policy

FDA’s authority post-Chevron could be first tested against lab-developed test ruling
Chevron doctrine, lab-development tests, diagnostics - Read more

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

ron burgundy GIF

What a totally normal and not at all newsworthy weekend for a certain country’s election cycle - happy monday! | Gif: Anchorman

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