Dominic Vacchiano’s Post

Stories making headlines today in the biopharma industry: Acorda Therapeutics, a renowned biotech company, has declared bankruptcy amidst legal and financial difficulties since 2017. The company has decided to sell off its assets, including a proprietary Multiple Sclerosis drug, to Merz Therapeutics for a sum of $185 million. In other sector news, Roivant has shared uplifting results from their Phase 2 eye disease drug trial, conducted in partnership with pharmaceutical giant Pfizer. Capitalizing on this success, Roivant is launching an unprecedented $1.5 billion share buyback program. However, contrasting fortunes struck Gritstone as its Phase 2 study for a novel cancer vaccine delivered mixed results, leading to a significant drop in its stock value. Despite the recent upset, Gritstone remains optimistic and is committed to moving forward with public stock offerings and advanced Phase 3 trials. Meanwhile, Praia Health, a healthcare startup pioneering in improving patient engagement with healthcare systems, managed to secure $20 million in a recent Series A funding round. The promising venture seeks to leverage this substantial capital influx to develop groundbreaking products that seamlessly connect consumers with vital healthcare services. In the corporate world, Zymeworks revealed the removal of CFO Christopher Astle, with CEO Kenneth Galbraith set to fill the position on a temporary basis. Concurrently, Gilead confirmed the expansion of its existing deal with Nurix. Lastly, Verve Therapeutics has decided to hit pause on its leading gene editing program following an adverse safety event. In its pursuit of safety and proficiency, the firm plans to shift gears towards a similar program that employs a different type of lipid delivery mechanism. #pharma #biotech #topstories #biodatastudio

Stories making headlines today in the biopharma industry: Gilead is making a strategic move with a $43.5 million investment in Xilio Therapeutics' IL-12 program dedicated to cancer treatment, a deal comprising $30 million in operational cash and $13.5 million stock investment. This venture opens the possibility for Xilio to get up to $604 million from licensing. Meanwhile, Metagenomi remains secretive about its Investigational New Drug (IND) plans. Expected to launch a duo of INDs by 2027, the preclinical IPO sector firm is driven to develop novel enzymes and gene-editing tools that could revolutionize the biotech industry. Aldeyra is also advancing its clinical programs, prepping for another trial for its dry eye disease drug, reproxalap. This comes as part of the firm's NDA resubmission strategy for the year, spurred by the encouraging data from a recent clinical trial. Bayer, the pharmaceutical heavyweight, is trimming its operations, planning for 90 job cuts. Concurrently, Avalo Therapeutics is seeking to boost its financial muscle in a private placement valuing up to $185 million. Changes are not only experienced at the macro level; ADC startup Mythic is experiencing a shift in leadership, set to induct Jazz executive George Eliades as its new leader starting April 1. In the regulatory space, the FDA has endorsed Akebia's anemia drug, vadadustat, a significant bounce-back following a rejection two years prior due to safety qualms. Boundless enters the IPO scene with a bang, generating a $100 million listing for its cancer small molecules. Moderna is also recalibrating its future vaccine strategies in an attempt to amplify the effectiveness. In the funding realm, Intellihealth, a weight loss care provider based in Connecticut, successfully raised $24 million, while Moderna partnered with Blackstone on flu shots securing a robust $750 million in R&D financing. This proves that despite significant challenges, the pharmaceutical and biotechnology sectors continue to adapt, innovate, and expand. #pharma #biotech #topstories #biodatastudio

Stories making headlines today in the biopharma industry: #PharmaUpdate: A record-breaking $153B has been funneled into R&D by pharmaceutical entities. This push is driven largely by a rising trend in mergers and acquisitions, indicating a strategic response to patent expirations or as a remedy to pipeline gaps. Roche has its sights set on Alzheimer’s disease with early data from a Phase Ib/IIa study revealing encouraging results for high-dose trontinemab, an amyloid-targeting antibody. If these preliminary results continue to offer promise, we could potentially see Roche making strides in developing an Alzheimer’s treatment. In a potentially billion-dollar partnership, Merck is teaming up with Pearl Bio to develop innovative cancer biologics. While Pearl Bio is still in its infancy, such collaboration may pave the way for launching approved drugs in the future. Despite Bristol Myers Squibb leaving one more CytomX program in the lurch amidst a ten-year research collaboration, CytomX remains undeterred and continues to progress with its preclinical programs. Securing $100 million following promising Phase I trial data, Regulus Therapeutics joins Skye Bioscience in successful fundraising efforts. Making its own statement is Lirum Therapeutics, filing for a $25 million IPO and setting sights on Phase I testing for its lead program in Ewing sarcoma and other cancers. Meanwhile, in the wake of its Phase III trial disappointment in schizophrenia, Acadia Pharmaceuticals announced that it will cease further clinical trials with Nuplazid (pimavanserin), though data analysis will continue. The failure was ascribed to an unexpectedly robust placebo performance. #PharmaNews #PharmaceuticalIndustry #HealthcareInnovation #pharma #biotech #topstories #biodatastudio

Stories making headlines today in the biopharma industry: Biotech companies, focusing on radiopharmaceuticals, neuroscience, and inflammation therapies, are being acquired for substantial premiums due to their potential to bridge gaps in the pharmaceutical field. For instance, Bristol Myers Squibb purchased radiopharmaceutical company RayzeBio at a 104% premium just three months post-IPO. Raising the bar in the oncology biotech space, Pennsylvania-based ArriVent BioPharma prepares for a $175 million IPO on Nasdaq with its furmonertinib, an EGFR-targeted tyrosine kinase inhibitor, being its lead asset. Venture capital player Innovation Endeavors, co-founded by ex-Google CEO Eric Schmidt, has launched a new $630 million fund. A significant portion of this fund will invest in life sciences and healthcare, indicating the firm's increasing focus on biotech. Merck's cancer prevention drug, Keytruda, demonstrates a 31% reduction in the risk of bladder cancer recurrence or death post-surgery. Despite not achieving its expected survival endpoint, the interim analysis data shows promise. In other news, Deerfield exits a 2017 deal with Windtree Therapeutics, while Travere Therapeutics finalizes a new $120 million deal with Renalys Pharma. Additionally, Celularity raised $21 million, and Sagimet Biosciences plans for a $112.5 million public offering. Moving towards pipeline development, Strand Therapeutics scales back its workforce by 18%. However, stay optimistic as CEO Jacob Becraft assures the firm’s robust financial runway. Navigating through challenges in 2023, Lonza remains hopeful about revenue growth this year along with plans to shutter its second biologics site soon. Personal updates reveal Bayer's radiology head planning retirement and ex-Sanofi chief Olivier Brandicourt joining BeiGene’s board. After facing a dip in VC and financing in 2023, the UK's life sciences sector now seems primed for an upward trajectory. #pharma #biotech #topstories #biodatastudio

The companies Jixing Pharmaceuticals, Cour Pharmaceuticals, and OnCusp Therapeutics bagged the biggest private biotech investments in January 2024. Around the world, immunology, oncology, and drug discovery players attracted the biggest funding rounds overall. The first month of 2024 saw a lot of initial public offering (IPO) success stories, suggesting a possible recovery for the biotech industry this year. And, although there was not quite as much private biotech financing in January, with 38 rounds in total, a lot of money was still raised by several companies, with the top three investments of the month coming in at $100 million or more. #biotech #healthcare #londonbiotechshow #healthcareinvestment #londonbusiness

Thoughts on this? >> Notable Labs files for bankruptcy, ending ambitions for Boehringer cancer drug >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #biotech #healthcare #pharmaceutical #pharma #competitivemarketing

💲 Ratio Therapeutics On BMS Investment, Radiopharma R&D Trends, AI Use ⭐ Who should hear this? BD and competitive intelligence execs at pharma and biotech companies with oncology portfolios/pipelines. VC investors. ⭐What is it? A podcast interview with the CEO and CSO of a Boston-based company with two radiopharmaceutical R&D platforms, and BMS as an investor. This interview digs into the company’s science, the use of AI, trends in research including combining radiopharmaceuticals with other anticancer modalities and partnering. ⭐Why is it important? Radiopharmaceuticals is a hot area in pharma, and significant deals are being done in the space (including AstraZeneca’s $2bn purchase of Fusion Pharmaceuticals [free to read, with a chart of recent big deals]). These valuable insights will be of interest to big pharma and investors looking to expand in the space, and rival companies wanting competitive intelligence. Citeline Citeline Commercial

Eli Lilly and Company has signed a $140 million deal with Radionetics Oncology, with the option to acquire them for $1 billion. Radionetics is developing small molecule radiopharmaceuticals that target GPCRs to treat solid tumors. https://lnkd.in/gG5CBV2i Radionetics also raised an additional $52.5 million in a series A round announced January 3, 2024. https://lnkd.in/gReTEk-F This deal is one of many in a long string of radiopharmaceutical deals recently. Eli Lilly also signed a $60 million deal with Aktis Oncology on May 21, 2024 (https://lnkd.in/gQtD4hAH), and bought POINT Biopharma, a wholly owned subsidiary of Eli Lilly and Company for $1.4 billion on October 3, 2023 (https://lnkd.in/gyUUtvgk). Other large pharma companies are also acquiring radiopharmaceutical companies, including Novartis' $1 billion acquisition of Mariana Oncology on May 2, 2024 (https://lnkd.in/g3HU35iN). With the oncology drug market expected to grow from $85 billion in 2023 to $140 billion+ by 2030, partnerships and M&A may be expected to continue to grow in this space over the next few years.

Wow! Recursion Pharmaceuticals has agreed to buy Exscientia for $688 million in an all-stock deal, merging two leading AI-driven drug discovery platforms. This acquisition enhances Recursion's pipeline and partnerships, gaining assets from Exscientia, known for collaborations with Sanofi and Merck. The combined entity will have nearly $850 million in cash to advance treatments for rare diseases and cancer. Recursion aims to "make medicines better and faster" by leveraging Exscientia's AI drug discovery capabilities. This deal underscores AI's transformative role in revolutionizing the traditionally slow drug development process. I believe this powerful merger will yield exciting innovations in the coming years. https://lnkd.in/eUwRtnPn #Biotech #AI #DrugDiscovery #Innovation #Healthcare #Recursion #Exscientia

Thoughts on this? >> Notable Labs files for bankruptcy, ending ambitions for Boehringer cancer drug >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #pharma #pharmaceutical #healthcare #competitivemarketing #biotech