Here are the latest stories being discussed in biopharma today:
Ironwood’s Stock Drops Following Mixed Results for Short Bowel Syndrome Drug Trial
Ironwood Pharmaceuticals has seen its stock price fall by 40% after the Phase III STARS trial for their once-weekly apraglutide showed mixed results. Although it met its primary endpoint of reducing weekly parenteral support volume, the drug failed to significantly reduce key secondary outcomes in patients with short bowel syndrome.
Novo Holdings to Invest in Macrocyclic Drug Developer Orbis
Orbis Medicines, a start-up focused on developing peptide drugs based on macrocycles, has secured €26 million in seed funding from European VC fund Forbion and Novo Holdings. Macrocycles, which have traditionally been difficult for drug developers to work with, are attracting new investment thanks to recent advancements in designing peptides.
BlossomHill Secures $100M Investment for Cancer Treatment Efforts
BlossomHill Therapeutics, a San Diego-based biotech company, has raised $100 million in Series B funding to bring three oncology small molecules into clinical trials and gather early efficacy data by the latter half of 2025. The firm was founded in 2020 by former Turning Point Therapeutics’ co-founders, CEO J. Jean Cui and executive chair Y. Peter Li.
Chan Zuckerberg Initiative Funds Four Regional Research Networks
The Chan Zuckerberg Initiative (CZI) has announced funding for four basic biology projects aimed at exploring RNA and protein networks in cells. The multi-year grants, totalling around $14 million across three years, have been given directly to universities and seek to bypass traditional government funding avenues which can often overlook “risky” research.
