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Permission granted by Biogen
Biogen, with $5.6B Apellis buy, builds out immunology offerings
Chief Financial Officer Robin Kramer explained how the deal not only provides two marketed products, but a team with nephrology expertise that will be valuable as Biogen prepares to launch felzartamab.
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IPO windowBiotech IPOs stayed at slow pace, but grew larger in the first quarter of 2026
The six companies that have priced initial public offerings so far banked a median of $287.5 million, a figure far surpassing what’s been observed over a similar timeframe in prior years, according to BioPharma Dive data.
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Adeline Kon/BioPharma Dive
Deep DiveBiotech M&A is accelerating. Track the deals that are happening here.
Both Biogen’s $5.6 billion Apellis purchase and Lilly’s $6.3 billion Centessa bid use “CVRs,” a voucher-like security that’s seen renewed interest as a way to bridge buyers and sellers on price.
Updated March 27, 2026 -
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Ambrosia adds a megaround for obesity drugs
The $100 million Series B round will be used to bring the biotech’s oral GLP-1 into early human testing.
Updated April 1, 2026 -
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Blackstone closes $6.3B fund for life sciences investing
It's the biggest life sciences private fund ever raised, coming in nearly 40% larger than its Blackstone predecessor vehicle.
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Merck strikes deal with antibody discovery startup
In an R&D collaboration worth as much as $838 million, Merck will lean on Infinimmune to discover immune cell-directed antibodies for multiple targets.
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Adeline Kon/BioPharma Dive
Deep Dive // IPO windowBiotech IPOs are the industry’s lifeblood. Track how they’re performing.
Obesity drugmaker Kailera Therapeutics, which raised $1 billion in venture funding since its launch in 2024, is the latest biotech company to file plans for an IPO.
Updated March 30, 2026 -
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Viridian tumbles on positive data for key eye drug prospect
The data did not meet investor expectations, and could bring “fierce investor debate on commercial feasibility,” according to an analyst.
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Permission granted by Kailera Therapeutics
Obesity drugmaker Kailera plans an IPO
The company, led by Ron Renaud, raised $1 billion in venture funding to develop a competitor to Wegovy and Zepbound that’s now in late-stage testing.
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Kendall Davis/BioPharma Dive
Tracker10 clinical trials to watch in the first half of 2026
After a lengthy downturn, the biotech industry finally gathered momentum in 2025. Key readouts in obesity, infectious disease and many rare conditions could help it continue.
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Deep Dive // Emerging biotechBiotech startups are built on venture capital. Track funding rounds here.
OrbiMed and RA Capital — which teamed up last week to back oral peptide drugmaker Pinnacle Medicines — have been the most active investors this quarter among the firms tracked by BioPharma Dive.
Updated March 26, 2026 -
Courtesy of Sanofi
Sanofi eczema drug weighed down by mixed results, safety concerns
Despite hitting key goals across three late-stage studies, the drug, which targets the “OX40” ligand, raises safety and efficacy questions that had at least one analyst lower his sales forecast.
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Lilly’s AI commitment expands through deal with Insilico
A collaboration “across multiple therapeutic areas” could net the Hong Kong-based biotech more than $2 billion as Lilly seeks to sustain its industry lead.
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News roundupUnited rises on IPF results; Biogen scores positive lupus data and an approval
Tyvaso, a marketed PAH therapy from United Therapeutics, continued to show potential in another lung condition. Elsewhere, Aurinia inked an acquisition and Lilly built its case for Ebglyss.
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China competitionDrugs from China are reshaping biotech. Track the licensing deals here.
Sanofi reached a deal for rights to a drug already on the market in China, while UCB is the latest to bet on the ability of T cell engagers to treat autoimmune conditions.
Updated March 4, 2026 -
Courtesy of Novartis
Emerging biotechNovartis targets Xolair successor in buyout of startup Excellergy
Worth up to $2 billion, the deal is centered around a drug that could lead to faster and more complete control of allergic conditions than Novartis and Roche’s popular medicine.
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AstraZeneca lung drug gets ‘surprise’ win in COPD trials
The treatment, tozorakimab, succeeded where other similar therapies failed and could help a broader group of COPD patients than Dupixent.
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Brain drug revivalOtsuka picks up PTSD drug with $700M Transcend buy
The buyout, which includes another $525 million in floated payouts, hands Otsuka a medicine it sees as a possibly “paradigm-shifting therapy” in psychiatry.
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Merck’s deal for Terns sparks debate over a possible biotech bidding war
Some investors and analysts believe the pharma’s $6.7 billion offer is justified given Terns’ recent stock run. Others are convinced a better proposal is coming.
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News roundup
Wave crashes on obesity drug update; Kodiak’s reboot pays dividends
Wave’s drug, which is meant to improve body composition, disappointed investors but was defended by analysts. Elsewhere, Kodiak’s revived vision loss treatment succeeded in a second Phase 3 trial.
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Permission granted by Rocket Pharmaceuticals
Rocket gene therapy cleared by FDA for rare immune disorder
Though the therapy, Kresladi, isn’t seen as a big seller, its clearance is a step forward for a company that’s lost most of its value since 2021 amid several setbacks.
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Jacob Bell/BioPharma Dive
Sarepta sees early success with RNAi drugs from Arrowhead
Long-awaited results from Phase 1/2 studies lifted Sarepta’s stock and, according to the company, suggest potential for two medicines to treat muscle-weakening conditions.
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Merck to buy Terns in $6.7B bet on a ‘differentiated’ leukemia drug
If consummated, the deal would hand Merck a treatment that could challenge Novartis’ fast-selling Scemblix. But the low purchase premium — which one analyst described as a "steal" — may leave room for a competing bid.
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FDA clears Denali drug in ‘clear step’ for rare disease biotechs
The approval of Denali’s Hunter syndrome treatment, Avlayah, comes after a series of drug rejections and delays that had led to criticism of the FDA’s stance on rare disease therapies.
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Maze tumbles despite positive data for kidney disease drug
Investors had reservations about data for a drug that could compete with a candidate from Vertex in APOL1-mediated kidney disease.
