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  • Biotech & Pharma Updates | June 11 - 12, 2024

Biotech & Pharma Updates | June 11 - 12, 2024

BMS still has an M&A appetite, Ultragenyx has some bone-building Ph2/3 results, Eli Lilly's Alzheimer's approval could be good news for rivals Biogen and Eisai too, Foresite Capital raises a $900M life science fund, and Pfizer signs a discovery pact with ProFound Therapeutics in search of the next great obesity med

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MINOR HOUSEKEEPING
How these updates are formatted

The newsletter is split into three main sections:

  • THE GOOD - good news (eg. fundraises, product approvals)

  • THE BAD - negative news (eg. clinical trial failures, layoffs)

  • THE UGLY - negative but atypical news (lawsuits, product recalls, scandals)

Within each of the three above parts, there are additional sections for easier navigation:

  • Eg. There will be multiple “The Good” sections covering things like Fundraises, Approvals, Partnerships etc.

  • There will be also additional tags within these sections (Eg. fundraises may mention Stage, product approvals may mention drug name and disease area.)

See something you want to get into further? Click the Read More (goes out to either a news article or a press release).

One last thing; I know paywalls can be annoying, so there’s a [Paywall] tag for any news stories behind one.

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⬇️ The Good News ⬇️

THE GOOD
Approvals & Labels

Sanofi, Regeneron’s arthritis med lands FDA approval
Monoclonal antibody, polyarticular juvenile idiopathic arthritis - Read more

THE GOOD
Business Development

CSL Seqirus lands European pre-pandemic bird flu vaccine contract
Vaccine, bird flu, avian flu - Read more

THE GOOD
Clinical Trials

Avidity Biosciences touts positive Ph1/2 data
RNA, facioscapulohumeral muscular dystrophy - Read more

Ultragenyx, Mereo BioPharma builds positive data density with Ph2/3 interim results
Monoclonal antibody, osteogenesis imperfecta - Read more 

NodThera showcases “statistically significant” Ph1b/2a early readout results
Small molecule, chronic inflammatory disease, obesity - Read more

Junshi, Coherus moves China-made, USA-approved mAb towards a 2nd indication with positive Ph3 data
Monoclonal antibody, hepatocellular carcinoma, liver cancer - Read more

THE GOOD
Earnings & Finances

Rising tides lifts all boats; analysts bet Eli Lilly’s likely Alzheimer’s approval will also benefit Biogen and Eisai’s rival med
Monoclonal antibody, Alzheimer’s - Read more

THE GOOD
Fundraises

Foresite Capital $900M fund close
Life science investment, biotech, AI - Read more

Kardium $104M raise
Medical device, atrial fibrillation, pulsed field ablation - Read more

Alida Biosciences $7.5M Series A
Epigenome research tools, epitranscriptomics - Read more

Alzheon $100M Series E
Small molecule, Alzheimer’s - Read more

Tevogen Bio up to $50M financing
Allogeneic T cell therapy, infectious diseases, cancers, neurological disorders - Read more 

GenomesDAO raise (amount undisclosed)
Genomic data - Read more

Avidity Biosciences proposed $300M stock sale
RNA, dystrophy - Read more

Imperial College London £10M ($12.8M) donation
Heart research, lung research - Read more

THE GOOD
IPOs

Actuate Therapeutics primed for $50M IPO
Small molecule, pancreatic cancer - Read more

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THE GOOD
Mergers & Acquisitions

$20B? Not enough; Bristol Myers Squibb still willing to seal the deal if the price (and drug candidate) is right - Read more

Lotus Pharmaceuticals buys Thailand-division of Teva Pharmaceuticals
Terms undisclosed
Generics, respiratory, ophthalmic - Read more 

THE GOOD
Partnerships

Takeda expands partnership with Partners in Health
Non-profit, patient access - Read more

Pfizer’s drug discovery pact with ProFound Therapeutics
$700M biobucks
Obesity, weight-loss - Read more

GSK’s AI partnership with Ochre Bio
$37.5M but details undisclosed
Computational biology, AI, liver disease - Read more

Evotec hits milestone, lands payment from partner Bristol Myers Squibb
$20M royalty payment
Neurodegenerative diseases - Read more

THE GOOD
Politics & Policy

Biosecure Act not included in defense spending bill
Biosecure Act, national security - Read more

…And WuXi AppTec and WuXi Biologics breath a (small) sign of relief, shares jump - Read more 

In the UK, the Association of the British Pharmaceutical Industry (ABPI) wants more attention given to the UK’s biopharma industry
Patient access, clinical trials, manufacturing - Read more

THE GOOD
Product Launches

IQVIA launches new clinical research site management tool
Clinical trials, clinical research, software - Read more

Lokavant launches “AI-powered feasibility software”
Clinical trial operations, forecasting, optimizing - Read more

THE GOOD
Strategic Plans

Merck on the look-out for the next best cardiometabolic drug
Small molecule, injectables, weight-loss - Read more

⬇️ The Bad News ⬇️

THE BAD
Layoffs

Agilent Technologies axes 183 workers
Scientific equipment, life science tools - Read more

⬇️ The Ugly News ⬇️

THE UGLY
Company Shutdowns

Vyaire Medical files for Chapter 11 bankruptcy
Medical device, ventilators - Read more

THE UGLY
Criminal Acts

Magellan Diagnostics agrees to resolve criminal charges in faulty lead testing case
Blood tests, lead poisoning - Read more

THE UGLY
Lawsuits

J&J settles Talc powder case for $700M
Talc powder, cancer - Read more

THE UGLY
Patient Access

Having issues hounding down that prescription due to drug shortages? Hire someone from overseas to find it for you - Read more [Paywall]

THE UGLY
Politics & Policy

Bipartisan group of 32 Attorney Generals ask Supreme Court to help reign in Pharmacy Benefit Managers
Pharmacy benefit managers, prescriptions - Read more [Paywall]

THE UGLY
Research

New study tracked dementia incidence before the age of 65 in World Trade Center first responders
First responders, building collapse, dementia - Read more

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

Season 2 Love GIF by Nanalan'

What do bananas and paramilitary groups have in common? Unfortunately, more than you think. | Gif nanalan on Giphy

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