AstraZeneca ditches Pieris deal, triggering layoffs

Today's Big News

Jul 18, 2023

Novartis axes secretive obesity program after high-risk, high-reward bet fails


An innovation supply chain: Pfizer taps Flagship for 10-program pipeline pact worth $7B in biobucks


AstraZeneca bails on failed Pieris asthma asset, forcing the biotech to restructure, lay off 70% of staff


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Neurogene inks Neoleukin reverse merger, raises $95M to fund gene therapies to clinical data drops


Neumora has 'inbound interest' as new CEO, depression data and phase 3 plans chart busy course


Sanofi taps Scribe for in vivo partnership worth more than $1.2B biobucks aimed at sickle cell and beyond


Los Angeles VC Westlake Village BioPartners launches $450M biotech fund with ‘recipe for success’

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Featured

Novartis axes secretive obesity program after high-risk, high-reward bet fails

Novartis has dumped its secretive, high-risk, high-reward obesity candidate after emerging from a phase 2 trial with lackluster efficacy. The Swiss drugmaker disclosed the termination alongside news that it is stopping development of a phase 3 pancreatic cancer candidate “based on benefit-risk assessment.”
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Top Stories

An innovation supply chain: Pfizer taps Flagship for 10-program pipeline pact worth $7B in biobucks

Pfizer and Flagship Pioneering have each put down $50 million to build a new pipeline of 10 programs, with the Big Pharma offering Flagship and its bioplatform companies the chance to earn up to $700 million in biobucks for each program that makes it to market.

AstraZeneca bails on failed Pieris asthma asset, forcing the biotech to restructure, lay off 70% of staff

AstraZeneca is ending a partnership with Pieris for the biotech's asthma medication, forcing the company to restrategize and lay off 70% of the team. The Big Pharma had halted dosing in ongoing clinical trials testing elarekibep after seeing nonclinical toxicology data.

Optimize Your Drug Development Timeline With This Dosage Form

Optimize Your Drug Development Timeline With This Dosage Form Can you name five benefits of using liquid-filled, hard-shell capsules in drug development over other solid oral dosage forms? Find out!

Neurogene inks Neoleukin reverse merger, raises $95M to fund gene therapies to clinical data drops

Neurogene has struck deals to fund its pipeline of gene therapies into the second half of 2026, agreeing to merge with the floundering, Nasdaq-listed Neoleukin Therapeutics and persuading investors to pump $95 million into the combined company.

Neumora has 'inbound interest' as new CEO, depression data and phase 3 plans chart busy course

Neumora is gearing up for a trio of phase 3 trials for its depression med after posting encouraging phase 2 data. The well-financed biotech spun out of Atlas, now with a new CEO with Big Pharma pedigree, is fending off outside interest.

Sanofi taps Scribe for in vivo partnership worth more than $1.2B biobucks aimed at sickle cell and beyond

Sanofi is taking another dip in Scribe's CRISPR pool, inking a new in vivo gene editing partnership worth more than $1.2 billion. The two companies said that one focus of the development pact will be treating sickle cell disease.

Los Angeles VC Westlake Village BioPartners launches $450M biotech fund with 'recipe for success'

Westlake Village BioPartners has launched its third fund, a $450 million vault for developing early-stage, next-gen biotechs in Los Angeles and beyond.

Sanofi, AstraZeneca advance immunization master plan with US nod for infant RSV drug Beyfortus

Sanofi’s immunization scheme is starting to fall into place thanks to an approval that could propel it and its partner AstraZeneca to the front lines of the RSV scene.

Alcanza snaps up Accel Research’s 22 sites for undisclosed price

Alcanza Clinical Research acquired Accel Research Site Network and its 22 trial sites located in the Southeast U.S. in a move to expand its footprint.

GSK yanks 2 batches of its asthma blockbuster Nucala in Taiwan over glass particle fears

In tandem with Taiwan’s Food and Drug Administration, GSK this week initiated a recall of two batches of its severe asthma injection Nucala after glass fragments were found in a vial of the drug.

Mirum snaps up 2 liver disease drugs from Travere for up to $445M

With the acquisition of two commercial medicines from Travere Therapeutics, liver disease specialist Mirum Pharmaceuticals has gone from a company with one product to having a “franchise,” according to CEO Chris Peetz. Now—in addition to its potential blockbuster Livmarli—Mirum has gained bile acid treatments Cholbam and Chenodal for $210 million upfront and $235 million in potential milestones.

Teladoc doubles down on Microsoft partnership to bring AI, voice tech into telehealth visits

Teladoc is ramping up its investment in AI to infuse innovation into its telehealth solution for hospitals. The largest telehealth company is tapping into its two-year partnership with tech giant Microsoft to integrate AI and speech recognition tech into its Solo virtual care platform.
 
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