The Latest
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Deep Dive
Biotech IPOs are the industry’s lifeblood. Track how they’re performing.
Boundless Bio became the ninth biotech to go public in 2024, ending a short dry spell of IPO activity in the life sciences industry.
Updated 23 hours ago -
Sponsored by Quest Diagnostics
The future of companion diagnostic (CDx) development: Why commercialization is key
As precision medicine expands into a growing number of therapeutic areas, the “one size fits all” approach to drug development is becoming less common.
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Gilead bets on Xilio cancer drug as biotech restructures
Xilio will get just over $40 million from Gilead in return for a license to its experimental IL-12 immunotherapy. The biotech is also discontinuing other work and laying off staff.
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European study finds popular ALS drug ineffective
The failure of a medicine known as TUDCA is yet another disappointment for ALS patients, as it comes just after Amylyx’s therapy Relyvrio proved unsuccessful in confirmatory testing.
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Moderna gets Blackstone backing for flu vaccine R&D
An arm of the private equity firm pledged up to $750 million to support Moderna’s development of its mRNA technology for influenza shots.
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Q&A
SQZ, Portal founder Armon Sharei on starting over in biotech
“I still care way too much about cell therapies,” said Sharei, weeks after his former startup, SQZ Biotechnologies, was liquidated.
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Deep Dive
Biotech M&A is on the upswing. Track the latest deals here.
While AbbVie’s proposed buyout of Landos Biopharma is small in value, it adds to a trend of dealmaking involving developers of drugs for immune diseases.
Updated March 25, 2024 -
Supreme Court weighs abortion opponents’ standing in mifepristone case
The high court's treatment of the case, which centers on a conservative challenge to FDA decisions expanding abortion pill access, is seen as potentially consequential for the drug agency.
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Stoke shares surge on updated results for Dravet drug
The biotech is trying to develop a Spinraza-like drug for the condition, a form of genetic epilepsy. Fresh data appear supportive of a high dose’s effectiveness.
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FDA rejects Regeneron lymphoma drug, setting back company’s oncology push
The agency wants Regeneron to make more progress with a confirmatory trial before clearing odronextamab, a “bispecific” antibody being developed for multiple blood cancers.
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AbbVie to buy immune drug developer Landos
Worth about $138 million upfront, the deal is another example of pharma interest in new drugs for inflammatory conditions like Crohn’s.
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Axsome drug succeeds in narcolepsy symptoms trial
Despite the late-stage victory, shares of the New York-based biotech dipped more than 3%. One analyst argued that Axsome’s drug has “largely been falling under investor radars.”
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Novo to acquire heart failure drug in $1B deal for Cardior
Cardior’s therapy is currently in mid-stage testing and, should the deal close, Novo plans to start another Phase 2 trial.
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FDA clears first-of-its-kind Duchenne drug for broad use
The approval of Italfarmaco’s Duvyzat is the first for an oral, non-steroidal Duchenne drug and was issued for all patients at least six years of age, regardless of their genetic underpinnings.
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Medicare to cover Novo’s obesity drug for some patients
Two weeks after the FDA updated Wegovy’s label, Medicare changed its stance to allow people with a history of heart disease to receive treatment, a shift that could boost access to the fast-selling medicine.
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Bayer streamlines pharma leadership team amid company shakeup
The executive team will reportedly shrink from 14 to eight in the latest step in new CEO Bill Anderson’s plan to slash management and reduce “bureaucracy” at the healthcare conglomerate.
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Emerging biotech
Mirador debuts with $400M, picking up where immune drugmaker Prometheus left off
The financing for the startup, which is led by former executives of a biotech Merck recently bought for nearly $11 billion, is the sector’s largest for a privately held company this year.
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Roche autoimmune disease drug disappoints in closely watched trial
Though the medicine hit its goal in a Phase 3 study in myasthenia gravis, the results fell short of expectations in a boost to rival drug developers like Argenx and AstraZeneca.
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NextCure to lay off 37% of staff, dial back research plans
The job cuts at the cancer biotech will primarily impact manufacturing roles, but will touch on several other parts of the organization too, the company said.
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Orchard sets out to sell world’s priciest gene therapy
Orchard is counting on the long-term data it’s accrued to convince insurers to cover Lenmeldy’s $4.25 million list price, the highest of any genetic medicine to come to market.
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Acelyrin eye drug heads to late-stage testing after trial win
The biotech, which raised $540 million in an initial public offering last year, is pitching the medicine as a potential challenger to Amgen’s blockbuster eye drug Tepezza.
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Emerging biotech
Clasp launches with $150M and a plan for precision cancer immunotherapies
The company claims its approach could yield more effective and safer T-cell engagers, a type of cancer medicine that’s attracted significant interest from drugmakers in recent years.
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Emerging biotech
Capstan heats up ‘in vivo’ cell therapy chase with $175M fundraise
The high-profile startup, co-founded by CAR-T innovator Carl June, will use the funds to bring an autoimmune disease treatment into proof-of-concept studies.
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AstraZeneca joins radiopharmaceutical deals spree with $2.4B buyout of Fusion
The deal hands AstraZeneca a prostate cancer drug that’s designed differently than Novartis’ fast-selling Pluvicto and currently in mid-stage testing.
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With new data, Bayer readies rival to Astellas menopause drug
Following a third successful Phase 3 trial, the company is planning approval filings for the medicine, which it acquired in a $425 million deal four years ago.
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Elevance to buy Kroger’s specialty pharmacy
Major pharmacy benefit managers continue to double down on specialty as a reliable source of business amid a growing crop of pharmacy upstarts.