Here are the latest stories being discussed in biopharma today:
1. Pfizer is closing its research facility in Boulder, Colorado by Q2 2024, a site it had acquired during the purchase of Array BioPharma for $11.4 billion in 2019. The decision came despite interest from investors and will result in a layoff of an undisclosed number of employees.
2. Cellares, a cell therapy manufacturer, signed its first global deal with Bristol Myers Squibb. The, $380 million agreement provides Bristol Myers with clinical and commercial capacity for a yet to be revealed number of CAR-T therapies at Cellares’ upcoming facilities in the US, EU, and Japan.
3. Rubedo Life Sciences raised $40 million in Series A funding, led by Khosla Ventures and Ahren Innovation Capital, to further its plans on treating age-related diseases by targeting senescent cells. Rubedo’s primary candidate RLS-1496, aimed at treating atopic dermatitis and psoriasis, is set to begin its Phase 1 trial this year.
4. Biosplice’s osteoarthritis drug, lorecivivint, has failed its phase 3 clinical trial, casting a cloud over the prospects of the drug’s approval. Despite the setback, Biosplice has no plans to conduct further trials and will discuss the data with the FDA.
5. French biopharmaceutical firm Ipsen, inked a deal with Skyhawk Therapeutics for the development of small molecules that can modulate RNA in a deal valued up to $1.8 billion. Addressing two rare neurological disease targets, Skyhawk will handle early research while Ipsen will take over after candidate nomination.
6. Biopharmaceutical company Boehringer Ingelheim partnered with Ochre Bio for a $35 million research collaboration project in the pursuit of new treatments for chronic liver diseases, in particular, metabolic dysfunction-associated steatohepatitis (MASH).
7. Eisai and BioArctic will partner to develop a drug that can cross the blood-brain barrier to combat Alzheimer’s Disease and address the neurodegenerative symptoms. The Japanese biotech firm, BioArctic, will receive milestone-based payments from Eisai as their partnership progresses.
8. Irish biotech firm raises $75 million in Series B funding to start Phase 3 trials for a drug aimed at treating a rare joint tumor.
