Top Biopharma News for 03/19/2024

Here are the latest stories being discussed in biopharma today:

‘An AI foundry’: Nvidia’s CEO focuses on biotech’s ease of AI

Nvidia CEO, Jensen Huang, is advocating for a smoother adoption of artificial intelligence (AI) in drug R&D within biopharma. At the recent Nvidia developer’s conference, Huang unveiled a new range of pre-trained AI models, Nvidia Inference Microservices (Nvidia NIM) tailored to be highly accessible, even for small biopharma companies. Users can leverage these microservices for $1 per GPU per hour if based in the cloud.

AstraZeneca acquires Fusion in $2B deal for radiopharmaceuticals expansion

AstraZeneca is buying Fusion Pharmaceuticals for over $2 billion, signaling a step forward into the radiopharmaceuticals sector. Expanding from their three-year-old partnership, Fusion’s assets open up opportunities for AstraZeneca to enhance existing cancer treatments with their focus on machine learning, and targeted isotopes. The acquisition follows recent big pharma ventures into the radiopharmaceuticals space by Bayer and Novartis, Eli Lilly and Bristol Myers Squibb.

Phase III study of Gates-backed tuberculosis vaccine begins

The Bill & Melinda Gates Medical Research Institute (MRI) has launched a substantial Phase III trial to test the prevention potential of a tuberculosis vaccine. The experimental vaccine is aimed at halting latent infections from developing into potentially fatal lung diseases. The trial is expected to cost around $550 million, with the MRI funding $400 million. If successful, it could create the first new vaccine for tuberculosis in over 100 years.

Neuroscience startup Engrail Therapeutics raises $157M

Engrail Therapeutics has raised $157 million in a Series B investment round, surpassing its initial target of $100 million. The funds will be applied towards advancing its pipeline, supporting mid-stage trials to treat generalized anxiety disorder along with other early-clinical studies in depression and other psychiatric conditions. Provided funding should secure the company operations through the first half of 2026.

PureTech to return $100M to shareholders

PureTech Health has announced plans to return $100 million to shareholders. This decision comes following the company receiving around $293 million from its share in Karuna Therapeutics, which was recently