Here are the latest stories being discussed in biopharma today:

DA Wallach Talks Science, Music, and Biotech Investments

DA Wallach, who has a diverse background in music, venture capitalism, and now biotech, recently shared insights on his journey to becoming a healthcare investor at Time BioVentures. The venture firm, which launched in 2022, focuses on investing in healthcare and biotech startups.

AbbVie Puts Forward $48 Million for Chronic Inflammation Treatment

AbbVie is partnering with French biotech OSE Immunotherapeutics in an effort to develop a novel monoclonal antibody that targets chronic inflammation. The deal involves AbbVie paying an upfront fee of $48 million for an exclusive global license for OSE-230, an early-stage treatment. If OSE-230 achieves certain milestones, OSE Immunotherapeutics stands to receive an additional $665 million.

Palatin’s Stock Drops Following Failed Trial Results

Palatin Technologies recently reported that their lead drug candidate PL9643 failed to meet primary endpoints in a Phase III dry eye disease trial. Despite the outcome, Palatin maintains that there is potential for the asset based on a revised analysis accounting for age and gender factors. As a result, the company’s stock dropped by as much as 43%.

Bristol Myers Lays Out Major Expansion Plans

Pharmaceutical giant Bristol Myers plans to establish its largest site outside the US in India by 2025. This is not the company’s only expansion plan; the company also has a $400M expansion in Ireland on the books.

Viatris Inks $350M Deal for Heart and Lupus Drug

Viatris has entered a licensing agreement to secure access to Idorsia’s Phase III heart and lupus drugs. The deal involves an upfront sum of $350 million.

Biotech Sector Surges

Breaking records, the biotech index has soared above $100 for the first time in two years. The sector continues to show strong growth and resilience in a fluctuating market.