Here are the latest stories being discussed in biopharma today:

1. Bristol Myers is set to shift its focus to bolt-ons after an M&A spree which included a $14 billion deal for Karuna Therapeutics and its schizophrenia drug. Unlike its competitor Merck, Bristol Myers will not be searching for massive M&A targets in 2024 and will instead concentrate on bolt-ons and licensing opportunities.

2. Ivan Cheung, ex-Eisai, has assumed the CEO position at immunoncology startup NextPoint Therapeutics. The firm, which focuses on the HHHLA2 checkpoint axis, has support from Sanofi and Bayer, as well as VC firms such as MPM Capital and Catalio Capital.

3. AbbVie’s founding CEO, Rick Gonzalez, plans to step down and his replacement will be an internal candidate. However, the transition is dependent on AbbVie successfully navigating the loss of Humira exclusivity and improving business performance.

4. Regeneron plans to combat muscle loss in obesity by trialing a combination of its muscle-preserving drugs with semaglutide, the active ingredient in Novo Nordisk’s Ozempeqic and Wegovy. The Phase II study is expected to start in mid-2024.

5. ARCH Venture Partners, a key investor in life sciences, aims to raise $3 billion for its 13th fund. ARCH has backed big names such as Illumina, Altos Labs, and Vir Biotechnology.

6. The number of biotech job postings declined last year, however, stabilization during the last quarter of 2023 suggests a potential recovery in 2024, according to investment bank Jefferies.

7. Hutchmed’s licensing deal, which could potentially be worth up to $227M, and Tyra’s $200M PIPE deal, have made headlines recently.

8. Alto Neuroscience and Fractyl Health have contributed to the momentum in biotech IPOs.

9. Novartis has ceased its license agreement for a potential cancer drug with Allarity Therapeutics due to a lack of payment.

10. Column Group has raised over $400M for a new fund and R&D hub targeting single-asset biologics companies.