Deals:
Novo Nordisk agreed to a $600 million deal with Metaphore Biotechnologies to create new GLP-1 obesity medications.
Chiesi announced it will pay Gossamer Bio $160 million to develop and commercialize its drug candidate seralutinib and commit $226 million in potential regulatory and sales milestones.
Medtronic announced a research collaboration with Arecor Therapeutics.
Arbor Biotechnologies acquired Serendipity Bioscience, a startup founded by MIT scientist and CRISPR pioneer Feng Zhang.
Volpara Health named Clarity Quest as its agency of record.
ODAIA joined Veeva’s AI PartnerProgram.
Biotech company Deep Genomics brought on B2B comms agency Fight or Flight to help build its communications function.
SentrySciences signed a collaboration agreement with Coriolis Pharma.
Oscar Health said it plans to stop selling health coverage to small businesses in partnership with Cigna next.
Pharming terminated a research collaboration and licensing agreement with Orchard Therapeutics.
FDA:
An FDA adcomm announced it will review Eli Lilly’s Alzheimer’s drug candidate donanemab on June 10.
Another agency adcomm is slated to review Lykos Therapeutics’ MDMA-assisted therapy for post-traumatic stress disorder on June 4.
The FDA missed its own deadline to propose a ban on the use of formaldehyde as an ingredient in hair relaxers and hair straighteners.
Layoffs:
Marinus Pharmaceuticals announced it is cutting about 20% of its workforce.
Kenvue’s board of directors approved a plan to cut 4% of its global workforce.
Walking Fish Therapeutics shut down.
Funding rounds:
Zenas BioPharma closed a $200 million Series C funding round to support its research of autoimmune treatments.
Bluejay Therapeutics disclosed a $182 million Series C financing effort.
Soleno Therapeutics announced the pricing of $138 million for a public offering of common stock.
Transcarent secured a $126 million Series D funding round.
Attovia Therapeutics raised $105 million in a Series B funding round.
Context Therapeutics announced a $100 million private placement led by Nextech.
San Diego biotech Aardvark Therapeutics raised $85 million.
Prologue Medicines emerged from stealth with $50 million in backing from Flagship Pioneering.
Swiss biotech Memo Therapeutics raised $22 million in a Series C extension.
New York-based OverT Bio launched from stealth with $16 million in funding.
Commit Biologics raised a $17 million round, led by Novo Holdings and Bioqube Ventures.
Health tech startup Triomics raised $15 million.
Industry news:
A young boy died in a trial for Pfizer’s experimental gene therapy for Duchenne muscular dystrophy, the company told patient advocates.
The pharma giant also agreed to settle more than 10,000 cases accusing it of hiding the cancer risks of its Zantac heartburn drug.
Endo Health Solutions was ordered to pay almost $1.1 billion in criminal penalties and another $450 million in criminal forfeiture for illegally marketing its Opana ER prescription opioid.
Two congenitally deaf children are able to hear after being treated with gene therapy from Regeneron.
BioNTech recorded a net loss of €315.1 million in Q1 while its total revenue dropped significantly.
Google’s AI division DeepMind unveiled AlphaFold3, a new model that researchers claim could revolutionize biology.
Illumina stated in a financial disclosure that it prefers to spin off Grail into an independent business rather than selling it.
Vitamin Shoppe announced that subscribers to its telehealth service would have access to GLP-1 weight-loss drugs.
AstraZeneca withdrew its COVID-19 shot citing low demand.
Steward Health Care, the troubled for-profit operator of eight hospitals in Massachusetts, filed for Chapter 11 bankruptcy protection.
Takeda Pharmaceuticals is plotting a $900 million restructuring effort amid slumping profits and challenges from generics.
Cathie Wood-run Ark Invest bought $3.54 million worth of shares in Amgen after it revealed significant progress with its weight-loss drug candidate MariTide.
Vertex Pharmaceuticals said it has collected cells from five patients slated to receive its CRISPR-based sickle cell treatment, Casgevy.
Merck said its endometrial cancer therapy failed a late-stage trial.
Sandoz’s net sales hit $2.5 billion in Q1, up 6% year-over-year.
EyePoint Pharmaceuticals said its lead eye drug candidate Duravyu failed a mid-stage clinical trial.
Ionis Pharmaceuticals’ total quarterly revenue fell from $131 million to $119 million.
GlycoMimetics said its experimental drug for acute myeloid leukemia failed a Phase 3 study.
Elsevier launched SciBite Chat, an AI-powered tool built atop SciBite Search.
A 12-year-old became the first commercial patient for Bluebird Bio’s gene therapy to cure his sickle cell disease.
A study of Johnson & Johnson’s experimental “pretzel” found more than 80% of bladder cancer patients treated saw their tumors melt away.
IPG Health launched AI-powered tools to boost creative effectiveness.
DNA Communications, part of the Weber Shandwick Collective, launched a health education communications offering in the U.S. called the DNA Medical Education Center.
Amneal Pharmaceuticals agreed to a settlement worth more than $270 million to resolve claims it helped fuel the opioid epidemic.
Women-owned marketing agency Reach Media Studio launched.
