RA Capital-backed Summation Bio is “terminating operations” next month, per an employee’s LinkedIn profile update. Another employee took to the networking site last week to say the circumstances were “insurmountable,” noting that “despite all-out effort and error-free execution, the science, this time, was elusive.” (Endpoints News)
Abbott sued a former scientist over alleged trade-secret theft – in particular “secretly downloading” competitive information on nutrition products. The company’s lawyers said in a statement that the alleged theft will cause “irreparable harm by undermining Abbott’s competitive advantage in the nutrition market.” (Reuters)
The Food and Drug Administration put a clinical hold on PepGen’s investigational new drug application for its myotonic dystrophy type 1 drug, PGN-EDODM1, with the agency to provide further details within a month. PepGen noted it was “disappointed” to receive a clinical hold but would be working with the FDA to lift it as soon as possible. (Seeking Alpha)
The Sackler family will be protected from current and future lawsuits over their role in their Purdue Pharma’s opioid business, a New York court of appeals ruled. In exchange for immunity, the Sacklers will personally pay out billions of dollars to help fight the ongoing opioid epidemic. (CNN)
Former First Lady Rosalynn Carter has been diagnosed with dementia at age 95. “She continues to live happily at home with her husband, enjoying spring in Plains and visits with loved ones,” the Carter Center said in a statement. (Axios)
