Here are the latest stories being discussed in biopharma today:
**In Healthcare Market News Today**
1. **Hot ADC Dealmaking: Sustainability at Stake**
The recent rush of dealmaking in the antibody-drug conjugates (ADC) sector has raised questions concerning sustainability. In the last week alone, several significant ADC deals have been closed, including Genmab’s acquisition of ProfoundBio and Ipsen’s purchase of an asset on the brink of human trials. Nevertheless, market insiders deem ADC’s as “super-hot molecules” and expect the deal-making to continue.
2. **Siduma Shuts Down Amidst Funding Difficulties**
Arvinas’ scientific founder’s biotech, Siduma Therapeutics, has closed operations due to financing environment challenges. The company is returning investments back to shareholders, highlighting the challenges facing early-stage biotechs in securing necessary capital.
3. **Adaptimmune Loses $3B Biobucks Pact with Genentech**
Adaptimmune has lost its potential $3 billion biobucks pact with Genentech over off-the-shelf T cell therapies. The termination of the collaboration, which was disclosed two and a half years ago, is set to take place in 180 days, during which no further payments will be made.
4. **First Biopharma Uplisting to Nasdaq Since Last Summer**
Obesity drugmaker, Skye Bioscience, has become the first biotech to uplist from an over-the-counter exchange to the Nasdaq since the previous summer. The uplisting reflects growing investor interest in obesity medications.
5. **Changes and Offerings: Nurix and Invivyd**
Nurix Therapeutics has upsized its offering to $175 million, which will mainly fund its 3 early-stage clinical drug candidates for B-cell malignancies. In a separate development, Invivyd’s CEO, David Hering, has stepped down with interim CEO Jeremy Gowler filling in temporarily while a permanent replacement is sought.
6. **Illumina CFO to Depart, AskBio’s CSO Ends His Run**
Major shakeups at Illumina as CFO Joydeep Goswami departs and the new Ankur Dhingra steps into the role. Illumina has also appointed Jakob Wedel as the new chief strategy and corporate development officer. AskBio’s CSO, Jude Samulski, has also chosen to end his run.
