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Less than six months after cutting 20% of its employees, Vedanta Biosciences has again laid off staff. According to one affected staffer, half of the Cambridge, Massachusetts–based biotech’s workforce is being cut while most of the rest are furloughed.
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It doesn’t matter how many times you have traversed Union Square; no one knows which way is north, or where The Westin is in relation to the Ritz Carlton. A Verizon outage brought that into focus on Wednesday.
Primarily known as an immunology and neuroscience company, AbbVie wanted to put the biopharma world on notice during its J.P. Morgan presentation: its oncology portfolio is underappreciated. This week, the Illinois-based company dove into the sizzling PD-1/VEGF space with a licensing deal with China-based RemeGen.
Buying vaccine biotech Dynavax was an easy choice for Sanofi despite antivaccine moves by the Trump administration.
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Rivus raised $132 million in a Series B financing round that will be used in developing HU6, a new drug class designed to treat cardio-metabolic disease by addressing obesity.
Celltrion agreed Wednesday to jointly develop Abpro’s cancer molecule ABP-102 in a deal that could net as much as $1.75 billion. See inside for more cancer collaborations.
Novo Nordisk and Octagon Therapeutics announced that they forged a research collaboration focused on inflammatory diseases.
This week’s money flowed into various therapeutic areas like cancer and inflammatory disorders, while government and philanthropic grants fund the fight against infectious diseases.
Beyond the usual challenge of delivering high-quality data that answers meaningful questions, PepGen’s Michelle Mellion is dedicated to “incorporating the patient’s voice into everything we do.”
Shares of Renovacor, Inc. stock are surging in premarket trading following Rocket Pharmaceuticals’ announcement it will acquire the company in an all-stock transaction valued at $53 million.
Six months after its launch, Vesalius Therapeutics is laying off 43% of its staff. With a current staff of 67, the company is slashing 29 jobs.
Genfit announced that it is Versantis for roughly $40 million cash and approximately $65 million in milestone payments and other considerations.
Both Bristol Myers Squibb and AbbVie filed a WARN notice with the California state government stating they intend to lay off up to 360 people.
As a leading biotech hub, the second city still ranks far below many other U.S. locations. That is starting to change, however, as new companies move into the heart of the BioMidwest region.