deals
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Thermo Fisher Adds Proteomics to Its Portfolio Through $3.1B Olink Acquisition
Thermo Fisher Scientific is acquiring Olink, a company that provides proteomics analysis tools and services used in drug discovery research. Olink’s growing revenue will help shore up a Thermo Fisher business segment whose sales have fallen due to declining Covid-19 testing demand.
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Roche Deal Aims to Get Molecular Glues to Stick to Elusive Cancer, Neuro Targets
Roche is paying $50 million up front to begin a drug R&D alliance with Monte Rosa Therapeutics, a biotech whose molecular glue technology could address targets previously deemed undruggable. It’s Roche’s second such deal in the past month.
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Jorie Healthcare CEO Shares Why Automation is Critical to Revenue Cycle Management
The revenue cycle management business is using AI tools to automate cumbersome tasks to help hospitals operate more efficiently. It’s beginning to attract the attention of major healthcare organizations.
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BioNTech Turns to China Again for Cancer Drugs, Paying $70M to Partner on an ADC
BioNTech gains rights to a MediLink Therapeutics antibody drug conjugate that targets tumors expressing the HER3 protein. The deal comes six months after the German company entered the ADC field by acquiring rights to two therapeutic candidates from DualityBio.
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Structure Raises $300M as Oral GLP-1 Drug’s Data Keep Up With Pfizer, Eli Lilly
Preliminary weight loss and safety data for Structure Therapeutics’ drug candidate suggest it’s competitive with other oral GLP-1 targeting contenders from big pharma companies. The data are from a small study and a short time frame, but Structure was able to leverage the encouraging preliminary results into a private placement of securities.
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After NASH Hopes Are Dashed, Intercept Pharma Agrees to $794M Buyout
Intercept Pharmaceuticals’ acquisition by Alfasigma comes three months after the FDA again rejected the biotech’s drug as a treatment for the fatty liver disease NASH. But Intercept still has rare liver disease assets, and Italy-based Alfasigma says acquiring the company will help it expand in gastroenterology and hepatology.
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Pharma, Artificial Intelligence, BioPharma
Novo Nordisk Turns to Flagship’s Valo Health for AI-Driven Cardio Drug R&D
Novo Nordisk is paying Valo Health $60 million up front to gain three preclinical cardiovascular disease programs. Milestone payments for those programs and others covered under the artificial intelligence drug discovery pact could reach up to $2.7 billion.
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Artificial Intelligence, BioPharma
Merck KGaA Expands in AI-Driven R&D With Two Drug Discovery Deals
Specific targets were not disclosed, but Merck KGaA is betting the artificial intelligence technologies of Exscientia and BenevolentAI will discover into new drugs for cancer, neurology, and immunology.
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Startup Magnet Biomedicine Attracts $50M to Expand Scope of Molecular Glue Drugs
Magnet Biomedicine builds on decades of molecular glue research from its scientific co-founder, Harvard University Professor Stuart Schreiber. The startup is developing drugs that take these glues beyond the biotech industry’s current focus on targeted protein degradation.
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BioNTech and CEPI Team Up to Develop Mpox Vaccine That Meets 100-Day Goal
The Coalition for Epidemic Preparedness Innovations, or CEPI, has pledged up to $90 million to BioNTech’s messenger RNA vaccine candidates for mpox. This research could help advance the scientific understanding of the application of mRNA technology to Orthopoxviruses, which includes mpox, formerly known as monkeypox.
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Navigating Healthcare’s Data Revolution: Priorities, Opportunities, and Challenges for Health Systems
Arcadia recently partnered with HIMSS Market Insights to survey executives, IT, technology, and clinical leaders. Here’s what we found.
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RayzeBio, Neumora Perk Up the IPO Market, Raising $561M for Clinical Trials
RayzeBio’s IPO will support pivotal testing of a targeted radiopharmaceutical for cancer patients who progress after treatment with Novartis’s Lutathera. Neumora will apply its IPO cash toward Phase 3 testing of a depression drug with a novel mechanism of action.
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Neuro Startup Arialys Raises $58M for Privilege of Tackling Brain Inflammation
Avalon BioVentures unveiled new portfolio company Arialys Therapeutics. The startup’s lead program, an antibody from Astellas Pharma, is a potential treatment for anti-NMDA receptor encephalitis (ANRE), a rare autoimmune inflammatory disorder.
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Moderna Puts Up $120M to Start Cancer Drug R&D Alliance With Immatics
Moderna and Immatics aim to see if the combination of their respective technologies can lead to better cancer treatments spanning multiple therapeutic modalities. Milestone payments to immunotherapy developer Immatics could top $1.7 billion.
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Devices & Diagnostics, BioPharma
Click Expands to Substance Use Disorder With Indivior Digital Therapeutics Pact
Digital therapeutics developer Click Therapeutics is partnering with Indivior to develop a mobile app for substance use disorder. Indivior is now Click’s third development partner, following deals with Boehringer Ingelheim and Otsuka Pharmaceutical.
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Seagen and Nurix Join Forces to Develop a New Class of Cancer Medicines
Seagen and Nurix are bringing their respective technologies together to develop a new class of cancer drugs called degrader antibody conjugates. Nurix CEO Arthur Sands says the multi-year, multi-target collaboration expands the reach of each company’s technology.
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A One-Time Treatment for NASH? Kriya Strikes Deal for Liver Disease Gene Therapy
Gene therapy biotech Kriya Therapeutics has acquired Tramontane Therapeutics, a startup focused on metabolic diseases. Tramontane brings a gene therapy that’s a potential one-time treatment for the fatty liver disease NASH.