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- Biotech & Pharma Updates | July 15 - 16, 2024
Biotech & Pharma Updates | July 15 - 16, 2024
Cardurion raises $260M for cardiac small molecules, CordenPharma invests nearly a billion in GLP-1 capacity expansion, Sionna gets hands on abandoned AbbVie CF asset, Vertex and Orum partner on new Casgevy conditioning regiment, ICER doesn't like Verona's COPD treatment price
It was an absolutely ludicrous few days for fundraise announcements - over $881M in total across 9 companies! | Gif: showtime on Giphy
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⬇️ The Good News ⬇️
THE GOOD
Approvals & Labels
argenx’s gMC antibody fragment lands China’s NMPA approval
Antibody fragment, protein, generalized myasthenia gravis - Read more
THE GOOD
Business Development
Sionna Therapeutics in-licenses abandoned AbbVie cystic fibrosis assets
Small molecule, drug combo, cystic fibrosis - Read more
THE GOOD
Clinical Trials
Pliant Therapeutics touts positive long-term Ph2a data
Small molecule, primary sclerosing cholangitis (PSC), liver fibrosis - Read more
THE GOOD
Earnings & Finances
Sobi posts impressive Q2 2024 growth across their portfolio
Small molecule, hematology, immunology - Read more
THE GOOD
Fundraises
Cardurion Pharmaceuticals $260M Series B; small molecules targeting heart failure and a rare arrhythmia
Small molecule, cardiovascular, heart failure, catecholaminergic polymorphic ventricular tachycardia - Read more
Asceneuron $100M Series C
Small molecule, Alzheimer’s - Read more
CatalYm $150M Series D
Monoclonal antibody, solid tumor, cancer - Read more
Scorpion Therapeutics $150M Series C
Small molecule, breast cancer - Read more
Thyme Care $95M Series C
Cancer care enabler, collaborative care model, patient journey - Read more
Huma $80M raise
AI digital health platform, remote patient monitoring - Read more
Neuspera $23M Series D
Medical device, urinary urge incontinence (UUI) implantable sacral neuromodulation - Read more
NovoNutrients $18M Series A
Food biotech, CO2 to food - Read more
THE GOOD
Investments
CordenPharma invests €900M ($981M) in GLP-1 manufacturing capacity
GLP-1 peptide, manufacturing - Read more
THE GOOD
Lawsuits
Johnson & Johnson proposes $505M settlement for former (now bankrupt) talc suppliers settlement trust for talc claimants
Talc, cancer - Read more
THE GOOD
Partnerships
Vertex Pharmaceuticals, Orum Therapeutics partner on developing new Casgevy conditioning regiment; Orum gets $15M upfront, $310M biobucks
Degrader-antibody conjugates, gene editing therapy, conditioning therapy- Read more
Vertex Pharmaceuticals, Genomics drug discovery collab extension and expansion
Casual disease pathways, precision medicine, drug discovery - Read more
SOTIO Biotech, Biocytogen ADC R&D and licensing agreement; Biocytogen gets $325.5M upfront and biobucks
Antibody-drug conjugate, solid tumor - Read more
SPI Pharma, Inimmune partner on development, commercialization of vaccine adjuvant systems
Vaccines, adjuvant systems - Read more
Inocras, Watchmaker Genomics genomic tools development partnership expansion
Genome sequencing, bioinformatics, deep sequencing - Read more
THE GOOD
Patient Access
Medicare propose 2025 start date to cover some digital therapeutics
Digital therapeutics, medicare, mental health, CMS - Read more
THE GOOD
Politics & Policy
Cali attorney and 21 attorneys general file amicus brief in support of drug price transparency laws - Read more
THE GOOD
Regulatory
Field trip! The FDA wants to visit a cell & gene therapy site near you, but not for inspections
Cell & gene therapy manufacturing, facility tour - Read more
THE GOOD
Research
Small molecule mitochondrial protectant prevented organ damage from COVID-19 in mice
Small molecule, COVID-19, organ damage - Read more
LLMs/AI answering real world clinical questions? Depends on the system, and purpose-built models might be the way
Clinical setting, AI, LLM, patient care - Read more
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⬇️ The Bad News ⬇️
THE BAD
Approvals & Labels
Orexo receives “unexpected” FDA CRL
Naloxone, nasal spray, opioid overdose reversal - Read more
THE BAD
Patient Access
ICER doesn’t like Verona Pharma’s COPD treatment price, says will restrict access
Small molecule, drug pricing, chronic obstructive pulmonary disease (COPD) - Read more
Novo Nordisk’s decision to pull long-acting insulin product (in light of Ozempic and Wegovy success) draws scrutiny
Insulin, diabetes, obesity - Read more
THE BAD
Politics & Policy
Big Pharma’s DTC ad-spending tax “loophole” comes under fire again
Drug ads, taxation, direct-to-consumer - Read more
AstraZeneca isn’t admitting the IRA loss easily, submits appeal alongside Johnson & Johnson and Bristol Myers Squibb
Drug pricing, inflation reduction act - Read more
⬇️ The Ugly News ⬇️
THE UGLY
Lawsuits
PBM-targeting drug pricing lawsuit in Hawaii tossed out
Pharmacy benefit manager, drug pricing - Read more [Paywall]
Masimo sues activist investor PolitanCapital Management over “material misstatements and omissions” in shareholder materials
Medical device, patient monitoring, pulse oximeter - Read more
THE UGLY
Warning Letters, Form 483
FDA finds Jiangsu Hengrui facility in an abysmal state, multiple concerns
Form 483, drug manufacturing, contaminants, quality control - Read more
You’re all caught up on the latest Pharma & Biotech News!
It’s World Emoji Day! | Gif: originals on Giphy
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