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.

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.

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.

Beam posts positive data on base editing treatment for AATD

Updated data showed the biotech's approach to the rare lung and liver condition helped restore functional protective proteins in a small study.

How former Acorda CEO Ron Cohen landed at a Parkinson’s cell therapy startup

Cohen says he looked at around two dozen companies since Acorda wound down. Oryon Cell Therapies, with its funding, data and “autologous” approach, stood out amongst the crowd.

RA Capital targets China with latest SPAC deal

The prominent investor aims to merge its latest special purpose acquisition company with a Chinese biotech, according to a securities filing.

Gilead, with Ouro deal, wagers $1.7B on bispecifics for autoimmune diseases

Acquiring Ouro Medicines, which launched last year, hands Gilead an antibody designed to bind to BCMA and CD3, a pair of immune cell proteins that are popular targets for drugmakers.

Karyopharm myeloma drug yields mixed data in myelofibrosis trial

Xpovio combined with Incyte’s Jakafi helped on one key measure but missed on other goal in a disorder that, by one analyst’s estimates, could triple the company’s revenue.

Pfizer, Valneva to seek approval of Lyme disease vaccine despite mixed study results

The partners said the shot produced “clinically meaningful” efficacy despite missing its main study objective, a finding they blamed on a lower-than-expected rate of infections during the trial. 

Immutrin raises $87M to advance drug for progressive heart disease

The fresh funding will help the biotech startup advance a candidate to treat a genetic disorder, “ATTR-CM,” that has become a battleground for companies like Pfizer, Alnylam and BridgeBio.

Apogee strengthens case for longer-lasting eczema drug

Company shares climbed by more than 20% on Phase 2 study results suggesting the therapy could provide sustained relief when administered once every three or six months.

Earendil Labs, an AI-powered drugmaker, hauls in $787M

The hefty funding will support a U.S.- and China-based startup that’s amassed a pipeline of nearly 20 drugs and formed two lucrative partnerships with Sanofi. 

FDA seeks feedback on voucher program; Study data lift ‘overhang’ on Insmed shares

Industry executives can share their views on the “national priority” program at a June meeting. Elsewhere, Sanofi licensed a T cell engager and Acorda’s former CEO resurfaced at a cell therapy startup.

Novartis pays $2B to land a startup’s breast cancer drug

Acquiring a unit of privately held Synnovation Therapeutics hands Novartis a prospect that might improve on medicines that, like its own Piqray, target tumors driven to growth by PIK3CA mutations. 

Roche stops work on experimental SMA drug

In a letter to European patients, Roche said its decision to end development of “emugrobart” was based on the drug “not consistently” improving muscle growth and motor function in a key study.

Rhythm obesity drug wins broader use from FDA

Imcivree’s approval in a type of obesity driven by brain injury could unlock an opportunity Wall Street analysts believe to be worth more than $1 billion.

A biotech VC sees early signs of a turnaround for startups

After a lengthy downturn, renewed optimism is building among young drugmakers and their backers as a new funding wave takes shape, said Santé Ventures’ Omar Khalil.

Novo uses FDA voucher to win speedy approval of higher-dose Wegovy

The clearance, issued 54 days after an approval submission, gives Novo another chance to claw back market share from Eli Lilly. 

AstraZeneca to boost cell therapy capabilities with new China investment

The planned Shanghai facility extends a yearslong push into the field and will support CAR-T therapies AstraZeneca is making for autoimmune disease and cancer.

Lilly’s three-pronged obesity drug hits goal in large diabetes trial

Retatrutide, a possible advance on GLP-1 drugs like Zepbound, significantly cut blood sugar and body weight in the study, a sign it might be similarly impactful against obesity.

Pfizer aims for wider use of PARP drug in prostate cancer with new data

While sales of Talzenna, which Pfizer acquired in a $14 billion deal, have been “negligible” so far, the new results should justify use in earlier lines of care, one analyst said. 

RBC: Revolution, Xenon, Arrowhead among top takeover targets

As part of a larger review, analyst Leonid Timashev identified 13 companies that could see deal interest as well as more than half a dozen poised to be potential buyers.

Chinese biotech startup Excalipoint banks $69M for next-gen T cell engagers

The funding, which ranks as one of the largest of its kind for a China-based drug startup, will support a portfolio of multifaceted antibodies the company believes to be advances over existing treatments.

J&J wins FDA nod for psoriasis pill that aims to compete with top-selling injections

The clearance is the first for an oral peptide that blocks IL-23, the target of popular medicines like Skyrizi and Tremfya. J&J has said the new drug, Icotyde, has the potential to top $5 billion in sales.

Crossbow raises $77M for new cancer immunotherapies

Backed by more than a dozen investors, the biotech startup will use the funding to further a Phase 1 trial of its lead program CBX-250.