CG Oncology plans IPO plunge
| | Today’s Big News Jan 3, 2024 |
| | | By Nick Paul Taylor Boehringer Ingelheim is having another crack at using RNA to treat metabolic-associated steatohepatitis (MASH). Six years after inking deals for a pair of prospects, the German drugmaker has committed more than $2 billion in biobucks to enter into a multi-target pact with a Chinese biotech and its Swedish subsidiary. |
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| By Annalee Armstrong Roche is ready for the remix—Therapeutics that is. The Swiss pharma has signed a $30 million upfront deal that could rise to $1 billion down the line to develop new small molecules. |
| By James Waldron Five months after reeling in $105 million from a pre-IPO crossover round, CG Oncology is now ready to take the plunge and go public. |
| By Nick Paul Taylor Sciwind Biosciences has furthered its plans to challenge Novo Nordisk’s Ozempic for the Chinese type 2 diabetes market, linking its rival GLP-1 drug to reductions in blood glucose and body weight in a phase 3 clinical trial. |
| By James Waldron Goldman Sachs is planning to make a splash in the life sciences sector, closing a $650 million for its first fund aimed at the drug development space. |
| By Gabrielle Masson Anavex Life Sciences’ lead asset has failed to significantly improve disease characteristics in a pediatric Rett syndrome trial, with the company pointing the blame toward a high placebo effect. |
| By Helen Floersh Researchers at Roche have developed a novel antibiotic with the ability to fight a dangerous drug-resistant bacteria that kills in up to 60% of infections. |
| By Joseph Keenan WuXi XDC, which spun off from WuXi Bio And WuXi STA in a November IPO, is partnering up with the South Korean biotech IntoCell. |
| By Andrea Park A new set of early study results have suggested that in addition to offering a longer-term alternative to standard CGMs, GlucoTrack’s technology also shows promise in improving on its competitors’ accuracy. |
| By Zoey Becker According to a recent securities filing, AbbVie only entered the ImmunoGen bidding war after other buyout interest led the ADC specialist to widen its pool of potential purchasers. When it came down to the final three players, AbbVie's offer blew the others out of the water. |
| By Paige Minemyer Medicare Part D will cover certain over-the-counter products when prescribed by a clinician, and when it does, the program pays far more for these drugs, according to a recent study. |
Fierce podcasts Don’t miss an episode |
| | | This week on "The Top Line," Fierce Biotech staff writer Gabrielle Masson and senior editor Annalee Armstrong look back at the year in biotech, which was defined by massive layoffs across the industry. They also discuss their favorite stories of the year, including an appearance from a popstar whose reputation precedes her. |
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