Here are the latest stories being discussed in biopharma today:
1. Lilly CEO David Ricks has expressed concerns about the possible impact of the Novo-Catalent deal and its potential impact on the wider manufacturing industry. The Novo Nordisk deal, worth $16.5 billion, involves the acquisition of three sites, the nature of which has created an ‘interesting inquiry’ according to Ricks.
2. A new venture capital fund, Scion Life Sciences, has raised $310 million to create six or seven new biotech companies. Founded by ex-investors from OrbiMed, Apple Tree Partners, and Medicxi, Scion aims to create a sustainable operating company similar to Regeneron or Vertex.
3. I-Mab Biopharma plans to split its US and China business operations to reduce costs and mitigate potential risks. The company will create a new entity, I-Mab Biopharma (Hangzhou), which will be backed by China-based investors and led by founder Jingwu Zang.
4. Gilead Sciences plans to focus on ‘late research, early development’ in its pipeline after a series of deals in 2023. CEO Daniel O’Day said that M&A decisions will be “driven by the science”.
5. Neuroscientist Asa Abeliovich has launched a new startup, Leal Therapeutics, targeting ALS and schizophrenia. The company has raised a $39 million seed round and is currently raising its next financing to go into the clinic with its two lead drugs, LTX-001 and LTX-002.
6. Denali Therapeutics presented new data for its lead program, suggesting reductions in the carbohydrate heparan sulfate can predict clinical benefit for patients.
7. As the obesity market heats up, Amgen is leaving clues on the development path for its investigational drug, MariTide.
8. BridgeBio has signed a $100M upfront deal with Kyowa Kirin for a drug to treat skeletal disorders.
9. Gilead has decided not to acquire checkpoint oncology biotech Tizona.
10. Joshua Boger, founder of Vertex, has joined a small Boston biotech as chair, and they are preparing for a mid-stage readout for a dementia drug.
11. An AI company that supports contract development and manufacturing organizations has completed a $20M Series C fundraising round.
