ADC biotech Pheon raises $120M to test three assets in the clinic
Investors continue to flock toward antibody-drug conjugates. Pheon Therapeutics is the latest to catch the tailwinds of the booming segment of oncology R&D. The London-based startup disclosed a...
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AstraZeneca targets $80B revenue, 20 new drugs by 2030
AstraZeneca on Tuesday morning unveiled its ambitious plan to be one of the fastest growing pharma companies by the end of the decade. In what CEO Pascal Soriot described as “a new era of growth,” the...
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FDA lifts partial clinical hold on Larimar’s Friedreich’s ataxia treatment
Larimar Therapeutics’ stock $LRMR shot up by as much as 20% after announcing Monday that the FDA had lifted its partial clinical hold on its treatment for Friedreich’s ataxia, a rare disorder that...
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Lilly makes another radiopharma move in collaboration with Aktis Oncology
Eli Lilly is again dipping into the buzzy area of radiopharmaceuticals by way of private biotech Aktis Oncology. The pharma giant will dish out $60 million upfront and make an undisclosed equity...
View ArticleAltruBio secures $225M for an updated version of its ulcerative colitis drug
Bay Area and Taipei biotech AltruBio has raised $225 million in a Series B to move forward its experimental drug for ulcerative colitis and other chronic autoimmune conditions, it said Tuesday. The...
View ArticleAI biotech Exscientia to trim nearly a quarter of workforce, following...
Exscientia announced a $40 million cost-saving program on Tuesday that will lead to layoffs affecting 20% to 25% of the company’s workers. The move, disclosed as part of a first-quarter update Tuesday...
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Sanofi, OpenAI, Formation Bio announce AI drug development partnership
French pharmaceutical giant Sanofi will work with the tech powerhouse OpenAI and New York-based startup Formation Bio to develop AI-powered software in drug R&D, the three companies announced...
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With a fresh $100M, Monte Rosa CEO details plans to move several molecular...
Monte Rosa Therapeutics CEO Markus Warmuth expects molecular glues to make up a new class of drugs with “almost unlimited potential” in the long run, allowing scientists to tackle disease-causing...
View ArticleLyra to lay off 75% of its workers; Dupixent nears COPD decision
Plus, news about BioNTech, Medigene, YGION Biomedical, Eli Lilly and Alloy Therapeutics: Lyra lays off 87 employees: The Watertown, MA-based biotech will let go of 75% of its workforce, stop...
View ArticleAstraZeneca outlines growth plans for 2030 and beyond with focus on...
CAMBRIDGE, UK — Pascal Soriot has set an ambitious $80 billion revenue target for AstraZeneca by 2030. But he’s not stopping there. At the drugmaker’s Discovery Centre in Cambridge, UK, the CEO,...
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Hims’ push into compounded GLP-1 drugs risks scrutiny from Novo Nordisk
(This story is from our new Health Tech newsletter. If you’d like to sign up, just click here.) The digital health company Hims & Hers has started prescribing a cheaper, compounded version of a...
View ArticleFDA to decide on Bristol Myers' subcutaneous Opdivo about two months earlier
The FDA has shortened the timeline for coming to a decision on Bristol Myers Squibb’s subcutaneous version of its blockbuster PD-1 inhibitor Opdivo. The company announced Tuesday that the therapy’s new...
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AstraZeneca doubles down on China stronghold with focus on R&D, supply chain
CAMBRIDGE, UK — AstraZeneca said it will continue to be the conduit for sharing Chinese innovation with the rest of the world, but will establish a dedicated supply chain for the Chinese market amid...
View ArticleSen. Wyden questions Pfizer over tax rate as part of ongoing investigation
Senate Finance Chair Ron Wyden (D-OR) is pressing Pfizer over its tax practices as part of his investigation into how large pharma companies use subsidiaries in other countries to skirt US corporate...
View ArticleSenators strike bipartisan tone on more pharma patent reforms
Republicans and Democrats on the Senate Judiciary Committee on Tuesday both acknowledged the need for further reforms on how pharma patents are reviewed and how the system functions. The issue of drug...
View ArticleNIH drafts policy on ensuring access to new drugs funded by taxpayers
The NIH has proposed requiring biopharma companies or licensees to submit plans for how patients will access drugs or devices that are developed with the help of taxpayer funding. Tuesday’s proposal is...
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Novo Nordisk looks beyond weight loss and diabetes to expand in new illnesses
As Novo Nordisk hauls in huge sales from its popular GLP-1 products, the company is thinking about a future beyond obesity and diabetes. During a press call Tuesday, Novo executives laid out ambitions...
View ArticleVersant has a new obesity biotech. AstraZeneca has the option to buy it
AstraZeneca is stepping further into the obesity field with an option for a fledgling startup that seeks to preserve muscle mass, a common concern for the GLP-1 medicines currently on the market. The...
View ArticleRezolute reports Phase 2 proof-of-concept data for oral diabetic macular...
An experimental pill for diabetic macular edema has shown promising effects on a key biomarker in a proof-of-concept study, fueling hope that it can become an alternative to injections. The late...
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Daiichi Sankyo to open two new research sites in Cambridge and Munich this year
Daiichi Sankyo is expanding its research sites into the US and Europe, with one in Massachusetts and another in Germany, the Tokyo-based company announced Wednesday. Operations will fire up at both...
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