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  • Biotech & Pharma Updates | June 12 - 13, 2024

Biotech & Pharma Updates | June 12 - 13, 2024

Pfizer's DMD hopes shattered in Ph3 (while also planning for 8 blockbusters by 2030), while JP Morgan closes $500M biotech fund, a new antibody player launches with $168M, and Eli Lilly gets an upgrade (from accelerated to full approval)

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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

Ultragenyx goes for FDA accelerated approval for their rare disease gene therapy
AAV, gene therapy, sanfilippo syndrome type A (MPS IIIA) - Read more

Bristol Myers Squibb solid tumor med lands FDA approval
Small molecule, solid tumor - Read more

Eli Lilly gets an FDA upgrade; accelerated → full approval
Small molecule, thyroid cancer - Read more

THE GOOD
Business Development

No irritation around this Abbvie and FutureGen licensing deal
Abbvie receives exclusive global development, manufacturing and commercialization license
FutureGen receives $150M upfront, $1.56B biobucks
Monoclonal antibody, irritable bowel disease (IBD) - Read more

THE GOOD
Clinical Trials

Moderna reports more positive Covid-19 vaccine trial news; next-gen shot outperforms SpikeVax in Ph3
mRNA, vaccine, Covid-19 - Read more

UroGen Pharma doesn’t hold it in with positive Ph3 data
Small molecule, bladder cancer - Read more

Invizius gets heated on positive Ph1 data in chilling-out immune reaction to dialysis
Medical equipment coating, dialysis, blood - Read more

THE GOOD
Company Launches

Santa Ana Bio is ready for primetime with $168M
Antibody, autoimmune - Read more

THE GOOD
Fundraises

J.P. Morgan inaugural Biotechnology Venture Capital Fund, $500M
Biotech, life science - Read more

InduPro $85M Series A
Bispecific antibody, antibody-drug conjugate, cancer, autoimmune - Read more

Replimune $100M private placement
Herpes simplex virus, cancer - Read more

Canary Speech $13M raise
AI, neurological disorders, mental health - Read more

THE GOOD
IPOs

Rapport Therapeutics closes IPO at $174M raised
Small molecule, focal epilepsy, peripheral neuropathic pain, bipolar disorder - Read more

THE GOOD
Market Reports

ALS marketed poised for growth, +15% by 2029
Analyst report, amyotrophic lateral sclerosis - Read more

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THE GOOD
Marketing

Big pharma comes out for pride month - some more than others
LGTBQ+, social media - Read more

THE GOOD
Mergers & Acquisitions

Siegfried buys Curia’s Wisconsin site
CDMO, early-phase manufacturing - Read more

Lyocontract bought up by investment firm Great Point Partners
CDMO, sterile injectable, lyophilization - Read more

Gilead has a specific M&A deal size range - Read more [Paywall]

THE GOOD
Partnerships

The usual big pharma names signs onto “digital endpoints” industry standardization initiative
Medical device, consumer devices - Read more

Novo Nordisk, Biosplice Therapeutics splice together a drug development partnership
Small molecule, diabetes - Read more 

THE GOOD
Politics & Policy

Supreme Court dismisses mifepristone case and preserves access, says group “does not have a legal basis to sue“
Small molecule, medically-induced abortion - Read more

THE GOOD
Strategic Plans

Pfizer has BIG plans; 8 new blockbuster by 2023
Drug development, blockbusters, oncology, cancer - Read more

⬇️ The Bad News ⬇️

THE BAD
Approval & Labels

Lykos Therapeutics CEO does damage control
MDMA, psychedelic, PTSD - Read more

THE BAD
Clinical Trials

Pfizer’s gene therapy DMD hopes dashed in Ph3 failure
Gene therapy, AAV, Duchenne’s - Read more

Cara Therapeutics discontinues Ph2/3 trial after no “demonstrate[d]…meaningful clinical benefit”
Peptide, notalgia paresthetica - Read more

THE BAD
Layoffs

Barinthus Bio cuts 25% of staff
Immunotherapy, peptide, chronic hepatitis B, coeliac disease - Read more

THE BAD
Partnerships

J&J returns cancer drug rights to Xencor
Bispecific T-cell engager, haematologic cancer - Read more

⬇️ The Ugly News ⬇️

THE UGLY
Criminal Acts

Y’all done; Done Global CEO, clinical leader arrested, accused of “$100M” online Adderall ring
ADHD, drug sales, controlled substances - Read more

Price-fixing cartels are bad - Alchem didn’t get the memo
Small molecule, abdominal antispasmodic - Read more

THE UGLY
Lawsuits

The J&J talc saga continues - and apparently, restraining orders aren’t just for people
Talc, ovarian cancer - Read more

THE UGLY
Shortages

Every step of the lutetium-177 pipeline makes it vulnerable to shortages
Radiopharma, radioisotope - Read more [Paywall]

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

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