Top Biopharma News for 01/03/2024

Here are the latest stories being discussed in biopharma today:

Roger Perlmutter Aims to Illuminate the Biological Dark with Eikon

Roger Perlmutter, former research leader at Amgen and Merck, has taken a bold third act as CEO of start-up Eikon Therapeutics. Eikon’s goal is to observe the real-time mechanics of cells at individual protein levels, using Nobel-winning microscope technology to identify and treat new drug targets. Perlmutter sees a shortsightedness in current drug development, mainly because the intricate workings of the human body are still not fully understood.

Roche in RNA Deal with Remix Therapeutics

Roche and RNA processing modulator Remix Therapeutics have struck a deal preliminarily worth $42 million. Part of the agreement, which includes up to $1 billion in biobucks, involves a new $60 million financing round to help the Boston-based biotech enter the clinic. Remix aims to modulate mRNA and boost RNA production with its oral small molecules.

Boehringer Ingelheim and Suzhou Ribo Life Science to Develop siRNA Therapies for MASH

Boehringer Ingelheim is partnering with China-based Suzhou Ribo Life Science and its Sweden-based unit Ribocure Pharmaceuticals to develop siRNA therapies for metabolic dysfunction-associated steatohepatitis (MASH). The deal, potentially worth up to $2 billion in biobucks, aims to target multiple targets for MASH.

Success for Agios’ Oral Drug for Thalassemia Patients

Agios Pharmaceuticals’ oral drug candidate, mitapivat, is a step closer to market after succeeding in a late-stage study in thalassemia patients who don’t need regular transfusions. The company plans to start regulatory activities by the end of the year.

Goldman Sachs Closes $650M Life Sciences Fund

Goldman Sachs has closed a $650 million life sciences fund aimed at financing the medical industry’s ‘golden era’. The fund is set to make a substantial investment in medical advancements across various fields in healthcare.

CG Oncology Files for IPO Amid Biotech Market Rebound

CG Oncology, a company focused on creating drugs for bladder cancer, filed for an IPO as the biotech market shows signs of a rebound. The move aligns with the company’s growth strategy amidst favorable market conditions.

Take-Private Bid for NGM Bio by The Column Group

Investment firm The Column Group has made a take-private bid for NGM Bio. This bid comes as NGM Bio, a struggling biotechnology company with a Phase II candidate for treating NASH, has been searching for ways to boost its development activities.

Invivyd Asks for Emergency Use Authorization for Covid-19 Preventative Antibody

Invivyd has requested emergency use authorization for a Covid-19 preventative antibody intended for immunocompromised individuals. The move corresponds with a broader trend of companies seeking similar authorizations for preventative measures against the virus.

Novartis Commits Further to Neurologic Gene Therapy Work with Voyager

Novartis is intensifying its neurologic gene therapy efforts through a partnership with Voyager, expanding on their commitment to find and develop new treatments for neurologic conditions.