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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.

Golden Girls Want GIF by TV Land

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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