Here are the latest stories being discussed in biopharma today:

Healthcare Market News

Startups Raised Millions for In-Licensing Drugs to China, Then the Model Collapsed

A trend amongst startups that saw them raise millions to license drugs to China has hit a snag. Companies raised hundreds of millions for China in-licensing deals from 2019 to 2021, enticed by a large market hungry for innovative drugs. However, that market quickly fell in on itself. Experts attribute collapse to pricing pressures, fierce competition, and a global funding crunch.

J&J’s Oral IL-23 Takes on Sotyktu, Shows Durability in One-Year Follow-Up Data

Johnson & Johnson unveiled extension data for a program that could compete with Bristol Myers Squibb’s Sotyktu in treating plaque psoriasis. The drug, JNJ-2113, developed jointly with Protagonist Therapeutics, was able to maintain its skin-clearing effects for a year.

Lexicon Gears Up for Another Shot in Diabetes Following Agreement with FDA

Lexicon Pharmaceuticals is set to resubmit its type 1 diabetes drug to the FDA following safety concerns raised in 2019. This comes after years of negotiating with the FDA. The company’s drug, Sotagliflozin, will be filed again as an adjunct to insulin for patients with type 1 diabetes and chronic kidney disease, in mid-2022.

Lexeo Raises $95M; FDA Lifts Hold on Nurix Cancer Trial

Gene therapy maker, Lexeo Therapeutics, has secured $95 million in financing. The funds are expected to give the clinical-stage biotech a runway into 2027. In other news, the FDA has lifted its partial hold on Nurix’s Phase Ia/Ib clinical trial for NX-2127, a drug candidate for treating B-cell malignancies.

Boehringer Ingelheim Inks Deal for Sosei’s GPR52-Targeting Schizophrenia Portfolio

Boehringer Ingelheim has teamed up with Sosei Heptares to advance treatments for all aspects of schizophrenia. Boehringer will have the exclusive option to license Sosei’s collection of GPR52 agonists, including its first-in-class program, HTL0048149.

Novartis Shares Plans for BTK Inhibitor Beyond Lead Indications

Novartis has offered insights into how it might expand the development of its experimental drug remibrutinib, a BTK inhibitor being tested for a range of immunology and neurology conditions. Preliminary data from a study examining five compounds for the chronic skin condition Hidradenitis Suppurativa, showed remibrutinib met its primary endpoint at both dose levels.