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- Biotech & Pharma Updates | June 3 - 4, 2024
Biotech & Pharma Updates | June 3 - 4, 2024
Lykos gets an FDA advisory thumbs down, BridgeBio & Viking Therapeutics deliver positive results but their stocks drop anyway, AstraZeneca's "armoured" CAR-T, and Summit cashes in $200M from an institutional investor.
Both BridgeBio and Viking Therapeutics delivered on positive clinical trial results - yet their stocks took an icy plunge.
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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
Eli Lilly gets NICE node for obesity med
GLP-1, obesity - Read more
THE GOOD
Business Development
Blackstone consider sales of Alinamin Pharmaceutical
Consumer healthcare - Read more
THE GOOD
Clinical Trials
Annexon Biosciences releases stellar Ph3 data, stock jumps
Monoclonal antibody, Guillain-Barre syndrome - Read more
Bristol Myers Squibb aims for #1 (first-line) with antibody-duo Ph3 data
Monoclonal antibody, liver cancer - Read more
BridgeBio dwarfism adds cm and tops Wall Street estimates (both good things) - but their stock still stumbled
Small molecule, achondroplasia - Read more
In similar fashion, Viking Therapeutics delivers Ph2b endpoint match - but stock tumbles due to other factors
Small molecule, nonalcoholic steatohepatitis (NASH), metabolic dysfunction-associated steatohepatitis (MASH) - Read more
Not to be outdone by Takeda, Alkermes presents Ph1b on its own narcolepsy program
Neuropeptide, narcolepsy type 1 - Read more
Abbvie touts showcase of ADC clinical trial results
Antibody-drug conjugate, lung cancer, colorectal cancer, solid tumors - Read more
AstraZeneca’s promising Ph1 data for it’s “armoured” CAR-T therapy
Cell therapy, CAR-T, solid tumors, liver cancer - Read more
THE GOOD
Fundraises
Summit Therapeutics $200M investment from institutional investor
Bispecific antibody, lung cancer - Read more
Psylo $8M Seed raise
Neuroplastogens, depression, mental health - Read more
Biophta €6.5M ($7.1M) Seed raise
Topical ophthalmic inserts, glaucoma, macular edema - Read more
Vilya $71M Series A
AI, machine learning, macrocyclic drugs - Read more
Axena Health $9.4 Additional Series A
Medical device, pelvic health - Read more
Envisagenics $25M Series B
RNA splicing, cancer - Read more [Paywall]
Triple Hair Group $4M Fundraise
Small molecule, androgenic alopecia - Read more
THE GOOD
Investments
Bionova sets up new facility in Texas, gets into plasmid market
Plasmids, CDMO, cell & gene therapy - Read more
Shionogi establishing new discovery lab in San Diego
Infectious disease, microbial research - Read more
Eisai announces continuation in venture investment, raises annual investment to ¥4B ($25.7M) - Read more
THE GOOD
Partnerships
Merck KGaA hits the Lotte-ry with expanded biopharmaceutical manufacturing and process development deal
Biopharmaceuticals, CDMO - Read more
And Merck KGaA also signs AI drug discovery deal with Biolojic Design
AI, drug discovery, antibody-drug conjugate, immunology, oncology - Read more
Bayer, Samsung partner to address data gaps in menopause-related sleep disturbances
Menopause, sleep, medical device - Read more
American Cancer Society and American Society of Clinical Oncology (ASCO) team up to launch new online cancer resource - Read more
THE GOOD
Politics & Policy
Energy and Commerce Committee’s Oversight and Investigations Subcommittee discuss 340B system reforms - Read more
THE GOOD
Regulatory
The FDA has their own “Operation Warp Speed” but for rare diseases, and will include programs from Denali Therapeutics, Neurogene, Larimar Therapeutics, and Grace Science
Rare diseases, drug development - Read more
THE GOOD
Research
National Institutes of Health, Memorial Sloan Kettering Cancer Center publish AI tool that can predict immunotherapy efficacy
Immunotherapy, AI, cancer, treatment prediction - Read more
Allen Institute for Cell Science launches disease specific cell lines for cardiac condition
Cell lines, hypertrophic cardiomyopathy - Read more
THE GOOD
Strategic Plans
Illumina Board officially oks Grail spin-off
Cancer screening, diagnostics - Read more
Novo Holdings Asia committed to China investments - Read more [Paywall]
⬇️ The Bad News ⬇️
THE BAD
Approval & Labels
Lykos Therapeutics receives a resounding no from FDA advisory panel
Small molecule, MDMA, psychedelic, PTSD - Read more
⬇️ The Ugly News ⬇️
THE UGLY
Criminal Acts
Inotiv settle animal welfare case involving 4,000 beagles
CRO, animal welfare - Read more
THE UGLY
Lawsuits
Johnson & Johnson ordered to pay $260M in talc case
Baby powder, cancer - Read more
You’re all caught up on the latest Pharma & Biotech News!
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