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  • Biotech & Pharma Updates | July 22 - 23, 2024

Biotech & Pharma Updates | July 22 - 23, 2024

Pfizer and Beigene open new facilities, Novo Nordisk buys 200 acres of land, Third Arc launches with $165M, Merck & Co. claim infant RSV win (but no data yet), and sinking generic prices might be exacerbating US drug shortages

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Pfizer and BeiGene hosted massive facility openings on opposite sides of the pacific. | Gif: spongebob on Giphy

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⬇️ The Good News ⬇️

THE GOOD
Business Development

SCYNEXIS hits clinical milestone, triggers $10M payment from GSK
Small molecule, antifungal - Read more

AstraZeneca in-licenses Pinetree Therapeutics preclinical asset for $45M upfront, $500M biobucks
Small molecule, cancer - Read more

THE GOOD
Clinical Trials

ViiV Healthcare’s (GSK HIV unit) two-drug HIV regimen bests Gilead Sciences’ three-drug regimen in head-to-head trial
Small molecule, antiretroviral, HIV infection, postmarketing clinical trial - Read more

Merck & Co. claims win in Ph2b/3 trial for preventing infant RSV infection, but doesn’t (yet) provide receipts
Monoclonal antibody, respiratory syncytial virus - Read more

Cytoki Pharma showcases positive Ph1 data for obesity med CK-0045
Protein, obesity, weight loss - Read more

Cellectar Biosciences touts positive pivotal study data
Radiopharma, Waldenstrom’s Macroglobulinemia, cancer - Read more

Zymeworks lands FDA IND clearance for antibody-drug conjugate
Antibody-drug conjugate, ovarian cancer, gynecological cancers - Read more

THE GOOD
Company Launches

Third Arc Bio launches with $165M
Antibody, T cell engaging, cancer, autoimmune - Read more

Abiologics emerges from stealth with $50M from Flagship Pioneering
Nonstandard amino acids, oncology, cancer, immunology - Read more

THE GOOD
Earnings & Finances

IQVIA reports better-than-expected Q2 performance
CRO, clinical research services - Read more

THE GOOD
Fundraises

Brenig Therapeutics $65M Series A
Small molecule, Parkinson’s Disease, AI/ML - Read more

Telix Pharmaceuticals $398M raise via convertible bonds
Radiopharma, diagnostic imaging agents, kidney cancer, brain cancer - Read more

Windtree Therapeutics $12.9M financing via private placement of Series C preferred stock
Small molecule, acute heart failure, cardiogenic shock, cancer - Read more

Magenta Medical $105M raise
Miniaturized blood pumps, percutaneous coronary interventions, medical device - Read more

THE GOOD
Investments

Pfizer cuts ribbon on $743M Singapore API plant expansion
Small molecule, antibiotics, cancer, pain management, manufacturing - Read more

BeiGene opens $800M US clinical R&D site
Research & development, cancer - Read more

Novo Nordisk buys 200 acres of land in Denmark, potential new production site
GLP-1, manufacturing - Read more

THE GOOD
Partnerships

Eyenovia, Senju Pharmaceutical partner on chronic eye disease NDA
Small molecule, chronic eye disease - Read more

Mendus, Institut Bergonié clinical trial collab on soft tissue sarcoma combo therapy
Allogeneic dendritic cell therapy, soft tissue sarcoma, combo therapy, cancer - Read more

THE GOOD
Product Launches

Insilico Medicine launches medical manuscript writer AI-helper
Medical research writing, AI assistant - Read more

THE GOOD
Strategic Plans

MyMD Pharmaceuticals rebrands to TNF Pharmaceuticals
Small molecule, anti-aging, inflammation - Read more

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⬇️ The Bad News ⬇️

THE BAD
Clinical Trials

Jaguar Health anti-diarrhea med slips in Ph3, misses endpoint
Small molecule polymer, cancer or chemotherapy induced diarrhoea - Read more

THE BAD
Lawsuits

AbbVie files 340B contract pharmacy suit in Missouri
340B contract pharmacy, compounding - Read more [Paywall]

⬇️ The Ugly News ⬇️

THE UGLY
Politics & Policy

House Committee on Oversight and Accountability releases final version of scathing PBM report
Pharmacy benefit manager, drug pricing - Read more

THE UGLY
Shortages

Why so many US drug shortages? One report blames sinking generic drug prices
Generics, drug pricing - Read more

THE UGLY
Withdrawals & Recalls

Hikma Pharmaceuticals recalls acetaminophen injections over bad labelling issue
Small molecule, pain management, labelling - Read more

Brassica Pharma faked results, and a host of other issues, according to FDA warning letter
CDMO, sterile manufacturing - Read more [Paywall]

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

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Gif: charligurl on Giphy

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