Biotech 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.

By Gwendolyn Wu • March 31, 2026

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.

By Jacob Bell • March 30, 2026

Explore the Trendline➔

Cell therapy

The continued emergence of CAR-T therapy has fueled research into next-generation approaches and new applications, such as its use in autoimmune diseases or in reprogramming cells inside the body.

By BioPharma Dive staff

United 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.

By Jacob Bell • March 30, 2026

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.

By Jonathan Gardner • March 30, 2026

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.

By Gwendolyn Wu • March 30, 2026

Novartis 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. 

By Gwendolyn Wu • March 27, 2026

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. 

By Jonathan Gardner • March 26, 2026

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.

By Kristin Jensen • March 26, 2026

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.

By BioPharma Dive staff • March 26, 2026

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.

By Delilah Alvarado • March 25, 2026

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.

By Gwendolyn Wu • March 25, 2026

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.

By Kristin Jensen • March 25, 2026

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.

By Gwendolyn Wu • March 24, 2026

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.

By Gwendolyn Wu • March 24, 2026

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.

By Delilah Alvarado • March 24, 2026

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.

By Jonathan Gardner • March 24, 2026

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.

By Jacob Bell • March 24, 2026

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.

By Jonathan Gardner • March 23, 2026

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.

By Ben Fidler • March 23, 2026

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. 

By Ben Fidler • March 20, 2026

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.

By Ben Fidler • March 20, 2026

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.

By Michael Gibney • March 19, 2026

Aspen’s fresh Parkinson’s data; Aldeyra tanks following FDA rejection

Aspen Neuroscience presented positive Phase 1/2 data for its stem cell-derived therapy. Elsewhere, Aldeyra lost over half its market value following a rejection from the FDA.

By BioPharma Dive staff • March 18, 2026

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.

By Gwendolyn Wu • March 18, 2026

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.

By Gwendolyn Wu • March 18, 2026