Here are the latest stories being discussed in biopharma today:

J&J to Purchase Gene Therapy from MeiraGTx

Johnson & Johnson (J&J) has announced the purchase of gene therapy for X-linked retinitis pigmentosa from biotech, MeiraGTx, for $65 million upfront. The agreement could be worth up to $415 million for MeiraGTx with a series of milestone payments expected over the next few years. J&J had already been sponsoring a Phase III trial for the gene therapy candidate, with this latest deal also including a commercial supply agreement.

Sanofi Halts ADC Development after Failure

French pharma company, Sanofi has decided to cease the development of its clinical-stage antibody-drug conjugate (ADC) after it failed to meet primary endpoints in a Phase III trial. The ADC did not improve progression-free survival when compared to docetaxel in second-line metastatic non-squamous non-small cell lung cancer, leading Sanofi to end the development program, despite an improvement in overall survival trends.

Lilly Partners with Fauna Bio

In their ongoing ambition to develop a new generation of obesity medications, Eli Lilly has announced a partnership with California-based start-up, Fauna Bio. The partnership will research the hibernation habits of squirrels, with the findings potentially leading to the creation of new treatment targets for obesity. The partnership viewed as a long-term investment by Lilly.

C-Suite Changes Announced for LianBio

Recent changes have seen CEO Yizhe Wang resign from his position at biopharma company, LianBio. Adam Stone, Chief Investment Officer at Perceptive will take over the role on an interim basis. Additionally, CFO Yi Larsson has also resigned, with Head of Global Finance, Maggie Gu, due to take over the CFO responsibilities in the interim.