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    Deep Dive // IPO window

    Biotech IPOs are the industry’s lifeblood. Track how they’re performing.

    Electra’s $350 million offering is the seventh largest of 2026, but would’ve ranked in the top 5 in any other year since 2018, BioPharma Dive data show.

    Updated 21 hours ago
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    Emerging biotech

    North Immunology joins biotech reverse merger boom with Aethlon deal

    Armed with $180 million and a dual-acting antibody for eczema, the startup is capitalizing on a change in sentiment that’s led to a sudden spike in reverse merger deals.

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    Emerging biotech

    Roche, Dualitas team up to find bispecific drugs for immune diseases

    Through a research deal worth up to $1 billion, Dualitas will sift through more than 300,000 possible bispecific combinations in the hopes of unearthing new and differentiating treatments. 

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    Novartis to pay $125M for blood-brain barrier crossing platform

    Proceeds from the deal, which hands Novartis global rights to a technology developed by Sironax, will help advance three candidates that the startup says have “best-in-class” potential.

  • A low-angle, full shot of the Nasdaq MarketSite building in Times Square under a bright, overcast sky, featuring a large, curved blue digital billboard. The billboard displays a welcome message reading "Nasdaq Welcomes Faeth Therapeutics, June 23, 2026," alongside the Faeth logo and "FTH Nasdaq Listed."
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    Deep Dive

    A booming business on Wall Street would love more biotechs to quietly die

    Once disparaged, reverse mergers have become so popular that some deal experts question whether there are enough quality shell companies to meet the demand.

  • Close-up view of the Novo Nordisk logo mounted on the exterior wall of a building. The logo features a stylized blue Apis bull with a sun disk above its head, symbolizing the company's identity. The background shows a tan brick wall and part of a leafless tree in the foreground under a clear blue sky."
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    Alamy
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    Obesity drugs

    Novo partners with Orbis, deepening investment in oral peptide drugs

    The potentially $1.4 billion alliance will see the two companies collaborate on “macrocycles” that could yield oral treatments for cardiometabolic diseases.

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    WCLC ‘26: A new ‘ADC era,’ China questions and AstraZeneca’s spotlight

    The year’s biggest meeting on lung cancer research featured data suggesting a new treatment standard for an aggressive tumor as well as debate about the reliability of results from China-run studies.

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    China competition

    FDA launches pilot program to speed up early US drug research

    First teased in June and formally announced Tuesday as part of “Operation Trialblazer,” the program will partner drugmakers with research institutions to more quickly bring medicines into human testing. 

    FDA
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    Novo looks to Anthropic’s AI models to ‘supercharge’ drug development

    The Danish drugmaker will use Claude Science as part of a goal to become "the world’s most AI-driven healthcare company."

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    Startup launches

    Sling banks $123M for an experimental thyroid eye disease pill

    A confirmatory late-stage study is now also underway for what the startup is positioning as, potentially, the first oral alternative to approved injectables like Amgen's Tepezza and Viridian's Lumvoa.

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    Skyhawk racks up more support for Huntington’s drug

    The Fidelity-backed biotech now has 15-month data from a small study of its RNA-splicing therapy.

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    News roundup

    FDA clears first generic radioligand drug; Sionna turns to layoffs

    A Lutathera copycat has become the first “radioligand equivalent” cleared by regulators. Elsewhere, Novo dropped the “Nordisk” from its name and a novel RNAi drug showed early promise.

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    China competition

    Drugs from China are reshaping biotech. Track the licensing deals here.

    GSK has signed its fifth licensing deal with a China-based drugmaker since the start of 2025, agreeing to pay Chimagen Biosciences up to $750 million for a three-pronged T-cell engager for multiple myeloma.

    Updated Sept. 15, 2026
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    Summit, Akeso look to shed PD-1/VEGF drug doubts with latest study results

    As dueling data emerge between their drug ivonescimab and a rival Merck medication, Summit and Akeso revealed new findings that impressed Wall Street.

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    Cellectis quits CAR-T and pivots to ‘in vivo’ gene editing

    Long a frontrunner in donor-derived cell therapy research, the French biotech cited a shifting landscape in changing course and choosing to offload its lead programs.

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    Scholar Rock SMA drug approved by FDA

    Projected by some analysts as a future blockbuster, Isembyld is the first “muscle-targeted” treatment for the disease and, in clinical testing, helped improve motor function in people on standard therapies. 

    FDA
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    This week in charts: RA’s insatiable appetite, Novartis’ big slide and a reverse merger spree

    RA Capital has already participated in four biotech financings in September. Meanwhile, Janus Henderson has been the year's most prolific backer of biotech reverse merger deals, according to Gilmartin Group.

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    Vaccines

    mRNA cancer vaccines’ biggest barriers to market

    Manufacturing hurdles are just one challenge the industry must overcome to commercialize personalized mRNA cancer vaccines.

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    Alamy
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    AstraZeneca’s newly approved pill fails frontline breast cancer study

    Etcamah is the second oral “SERD” to recently fall short in first-line breast cancer, following a similar setback from Roche earlier this year. 

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    Deep Dive // Emerging biotech

    Biotech startups are built on venture capital. Track funding rounds here.

    Six biotechs raised over $700 million in combined venture funding this week, though two of those companies — Solstice Oncology and Encoded Therapeutics — accounted for the bulk of the total.

    Updated Sept. 11, 2026
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    News roundup

    Karyopharm pushes off debt payment; Amgen eyes broader Imdelltra use

    Karyopharm bought an extra month to negotiate with creditors or pursue a deal. Elsewhere, BridgeBio Pharma’s oncology spinout shook up its development plans and a brain-focused gene therapy startup banked $275 million.

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    Andy Plump, architect of Takeda’s R&D overhaul, to retire next year

    Plump joined Takeda during a turbulent period, pushed the company to work more closely with young biotechs and will leave it with what CEO Julie Kim called a “lasting foundation.”

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    FDA places partial hold on Biohaven’s epilepsy drug

    Announced mere weeks after Biohaven sold off rights to the therapy, opakalim, the halt affects a study some analysts believe is necessary to support a potential approval.

    FDA
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    Startup launches

    A new immuno-oncology play raises $225M for a next-generation drug

    Solstice Oncology is advancing a medicine from China’s Harbour BioMed that it believes is able to address the weaknesses of drugs aimed at CTLA-4, a popular but tricky cancer immunotherapy target.

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    Trump administration

    FDA gains ‘continuity’ as Mikhail, Davis named permanent CBER, CDER leaders

    After almost two years of turnover in the FDA’s top ranks, the new appointments should help ease concerns about more turmoil ahead, one analyst said. 

    FDA