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Roche pays China-based biotech $70M for a new HER2 drug
The drug, currently in Phase 1, is an oral medicine designed to cross the blood-brain barrier and better treat HER2 tumors that have spread to the brain.
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Novavax cuts workforce by 25% as COVID vaccine sales fall
The layoffs, which will affect hundreds of employees, are part of a major restructuring designed to reduce operational and research spending by as much as half.
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Abortion providers in 3 states sue over mifepristone restrictions
The lawsuit seeks to remove safety restrictions on mifepristone or, alternatively, prevent further altering of access to the drug.
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EQRx resets strategy, abandoning plans to disrupt drug pricing
Launched in 2020 with a "radical" vision, EQRx ran into roadblocks that stymied its efforts to develop new medicines and undercut competitors on price.
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Catalent cuts outlook, delays results as it reveals new hurdles
The pharmaceutical CDMO said it found “significant” issues with its forecasts over the past year, compounding manufacturing problems at three of its plants.
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Recursion to acquire two Canadian drug discovery startups
The company agreed to buy Cyclica and Valence after winnowing down a list of more than 100 potential takeover targets, its CEO told BioPharma Dive.
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Former Rubius, Laronde CEO Cagnoni to join Incyte
Six months after being named head of RNA-focused biotech Laronde, Pablo Cagnoni has left the buzzy startup to run Incyte’s R&D work.
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Baxter to sell biopharma unit to private equity for $4.25B
The deal is the latest in a string of private equity-backed deals for contract development and manufacturing businesses in the pharmaceutical sector.
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Emerging biotech
Acelyrin follows Kenvue with largest IPO for a biotech startup since 2021
The $540 million offering adds to evidence suggesting young drugmakers may need to be well into clinical testing before going public in the current market.
Updated May 8, 2023 -
Deep Dive
‘The luckiest of the unlucky’: A Duchenne gene therapy brings hope to families — and tests the FDA
FDA advisers voted 8-6 in support of the agency approving a treatment that patient advocates and doctors believe to be a breakthrough for a deadly disease.
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Apellis reports strong start for new vision loss drug
Higher-than-expected sales of the geographic atrophy therapy Syfovre pushed shares in Apellis higher, and could add to speculation about a takeover.
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