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TOP STORIES
A surprising deal from Vertex Pharmaceuticals adds to Big Pharma’s acquisitive streak as Crinetics folds into the cystic fibrosis drugmaker. Meanwhile, IPOs and venture capital raises trend upward, but mostly for derisked companies. Plus, FDA decisions slow only slightly as the hunt for a permanent leader drags on.
Early-stage financing rounds are on track to hit their lowest dollar value in years as funders continue to eschew risky investments, experts told BioSpace.
A mostly black box since emerging with more than a billion dollars in hand, Xaira Therapeutics is slowly pulling back the curtain, revealing plans to find partners and validate its pipeline.
Vera Therapeutics’ atacicept, to be marketed as Trutakna, will go up against Novartis, Otsuka and possibly Vertex in the kidney disease primary IgA nephropathy after receiving an accelerated FDA approval.
New data on Hengrui Pharma and Kailera Therapeutics’ investigational oral GLP-1 have validated the late-stage weight loss asset and paved the road for a regulatory submission in China, but analysts pointed to high rates of nausea and vomiting that could challenge the ongoing U.S. study.
With the latest layoffs, Novartis expects to let go of around 800 employees by the end of 2028. More than half of the cuts have been at the company’s East Hanover, New Jersey, location.
New data from a Phase 3 trial will further support a rolling submission for Compass Pathways’ psilocybin treatment COMP360. Patients who saw a clinically meaningful benefit on depression severity maintained response through week 26.
Vertex Pharmaceuticals’ acquisition of Crinetics Pharmaceuticals is the largest pickup in the company’s history, according to analysts at BMO Capital Markets.
Patients treated with Bristol Myers Squibb’s Krazati in combination with cetuximab saw shorter median overall and progression-free survival than comparators on chemotherapy.
After debuting on the public markets with $256.3 million and raking in an additional $472 million, Veradermics has emerged as one of biotech’s biggest post-IPO standouts. CEO Reid Waldman credits the weight loss craze for establishing consumer-driven channels.
With the latest round, Roche’s Genentech will have racked up nearly 450 layoffs in California over the last year amid ongoing restructuring. At the same time, the biotech is joining forces with Astex Pharmaceuticals in a deal that could surpass $490 million.
Follow along as BioSpace tracks job cuts and restructuring initiatives.
PRESS RELEASES
At this year’s annual meeting of the Bio International Convention (BIO) in San Diego, CA, TechBio company Cytomos (www.cytomos.com) is showcasing their flagship cell analytic intelligence platform AuraCyt® – together with its novel benchtop technology Celledonia® – which is set to revolutionise predictive cell analytics.
Human data demonstrates translation of key findings from preclinical studies