Stay on the Cutting Edge of Biotech, MedTech, and Pharma.
100% free, unsubscribe anytime.
Molecular glues redirect the cell's own machinery to destroy disease proteins. Novartis just signed its fourth deal in the space. The EU is debating biotech patent incentives. A non-viral gene therapy startup raised $125M. Survodutide disappointed on weight loss but impressed on fat composition.
The novel JAK2 inhibitor is "working right out of the gate, with a good safety profile." AstraZeneca landed the first targeted prostate cancer approval for PTEN-deficient patients. Kardigan is IPO'ing at $373M for cardiac drugs. EHA is wrapping up. BIO International is next week.
A Pharma Letter analysis shows the outsourced manufacturing surge is concentrating among fewer players. Merck bought a WuXi facility in Ireland. Pharma trade bodies pressed the G7 on innovation. Twelve biotechs have IPO'd this year at a median of $300M. BIO International is in two weeks.
Multiple Phase 3 trials showed Foundayo reduced blood sugar more than Novo's semaglutide in type 2 diabetes. Lilly is taking the pill to the FDA. BioSpace says Lilly's $25B+ M&A captures half of pharma's deal capacity. Sanofi stopped a Phase 3. And Hikma is investing $267M in Ohio.
Two lung cancer drugs already under FDA review. A 40% premium. The first major deal under new CEO Luke Miels. GSK just went all in on oncology. Incyte added $1.25B. Celcuity doubled PFS but still dropped 25%. ADA is this weekend.
The ADC safety signal comes as the modality hits its fastest growth period ever. CytomX expanded its Regeneron deal to $4B. The FDA is under fire for not disclosing three CNPV recipients. And Lilly says the one-size-fits-all GLP-1 era is ending.
