Deals:
Danish antibody company Genmab bought ProfoundBio for $1.8 billion in cash.
Merck KGaA partnered with Caris Discovery to identify and develop new antibody-drug conjugates in a deal that could hit $1.4 billion in milestone payments.
Ipsen announced an exclusive global licensing agreement with Sutro Biopharma potentially worth $900 million for STRO-003, an antibody-drug conjugate.
Merz Therapeutics entered into an agreement to buy three commercial assets from Acorda Therapeutics for $185 million.
Canadian pharma company Apotex announced it will acquire Searchlight.
Aditxt signed a definitive agreement to acquire Appili Therapeutics.
Biognosys and Alamar Biosciences entered into a strategic partnership to advanced scientific discovery of biofluid proteomics biomarkers.
Healthcare products and services distributor Henry Schein is partnering with Viome.
Awakn Life Sciences announced a licensing partnership agreement with Rivus Wellness and Research Institute.
FDA:
Eisai submitted a supplemental Biologics License Application for monthly Leqembi intravenous maintenance dosing to the FDA.
The agency accepted a BLA from AstraZeneca and Daiichi Sankyo for datopotamab deruxtecan in treating treatment adult patients with unresectable or metastatic hormone receptor HR-positive, HER2-negative breast cancer who have received prior systemic therapy for unresectable or metastatic disease.
The FDA approved Zevtera (ceftobiprole medocaril sodium for injection) for three different uses.
The agency also approved Voydeya, AstraZeneca’s oral factor D inhibitor.
Otsuka Pharmaceuticals received FDA clearance for a digital treatment targeting a mental health condition.
Abbott‘s i-STAT TBI cartridge received clearance from the FDA to be used with whole blood.
Eko Health announced FDA clearance for its low EF detection AI.
The FDA extended the review period for Applied Therapeutics’ investigational aldose reductase inhibitor govorestat.
Layoffs:
Amylyx Pharmaceuticals announced it will pull its ALS drug Relyvrio from the U.S. and Canadian markets and lay off around 70% of its workforce in order to extend its cash runway to 2026.
Omega Therapeutics cut 35% of its workforce.
Funding rounds:
Obesity startup Metsera launched with $350 million in VC backing.
San Diego-based Aardvark Therapeutics is planning a $200 million IPO.
Obsidian Therapeutics raised $160.5 million in its latest funding effort.
Contineum aims to raise $136 million in its upcoming IPO.
Alterome Therapeutics raised $132 million in a Series B funding round.
Diagonal Therapeutics launched with $128 million in financing.
Pharmacy benefit manager startup Rightway raised $109 million in new funds.
Swiss biotech Addex Therapeutics nabbed $63 million in a Series A raise.
Industry news:
Costco and its low-cost healthcare partner Sesame expanded into weight-loss management.
Roivant Sciences announced a $1.5 billion share buyback program as well as promising data from a Phase 2 study of brepocitinib, a JAK1 and TYK2 inhibitor.
Arbutus Biopharma convinced a federal judge to adopt its proposed definitions of three disputed claims in six vaccine-delivery patents it alleges Moderna’sCOVID-19 vaccine infringes upon.
CMI Media Group, a 2023 MM+M Agency 100 honoree, launched Centered, its social and content enterprise, as well as digital media production and creator strategy offerings.
Verve Therapeutics paused work on its lead gene editing treatment after a serious adverse event.
Bristol Myers Squibb’s immunology product Zeposia failed a Phase 3 study.
New York-based marketing and communications shop 120/80 MKTG announced that it will restructure as an organization under a single entity: 120/80 Group.
GoodRx added Publix to its Gold Network.
Corporate wellness platform Gympass rebranded as Wellhub to reflect its widening range of services
Gritstone Bio’s cancer vaccine failed a Phase 2 study.
A survey by Dermavant Sciences found patients living with atopic dermatitis experience sleep disruptions attributed to itching.
Revance Therapeutics convinced a judge to dismiss a lawsuit brought by investors who allege the company misled them about the timeframe for regulators’ approval of an anti-wrinkle injection.
Equillium, a California-based biotech, released positive topline data from the Type B portion of the Phase 1b EQUALISE study evaluating itolizumab in lupus nephritis patients.
Bausch Health and Salix Pharmaceuticals unveiled the results of a survey that found more than half of IBS/CIC patients said they feel alone in their experience and try to hide symptoms from family and friends.
Medtech company Zimmer Biomet became the official medical device partner of the Association of Pickleball Players, Professional Pickleball Association and USA Pickleball.
