Shares of Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) were trading at $504.18, down $101.21, or 16%, after the company and partner Sanofi SA said one of two phase III studies with IL-33 blocker itepekimab hit the primary endpoint in chronic obstructive pulmonary disease (COPD). The winner was Aerify-1, which tested the drug in former smokers with inadequately controlled COPD. Itepekimab reduced moderate or severe acute exacerbations by 27% compared to placebo at week 52, a clinically meaningful benefit. The second effort, Aerify-2, fell short of the same primary endpoint, though investigators found upside earlier in the study, said Tarrytown, N.Y.-based Regeneron. Sanofi, of Paris, saw its stock (NASDAQ:SNY) dip a little, too, and was selling for $49.57, down $2.78.

Summit falls on ivonescimab overall survival miss in lung cancer

For the second time in two months, the lack of statistically significant overall survival (OS) data sent shares of Summit Therapeutics Inc. sliding, despite otherwise positive findings for its PD-1/VEGF bispecific candidate, ivonescimab, in non-small-cell lung cancer (NSCLC). Results from the global phase III Harmoni trial showed ivonescimab met the progression-free survival primary endpoint but only showed a positive trend in the OS primary endpoint. Notably, data were consistent across Asian and western populations, offering some assurance of ivonescimab’s broad potential. Summit licensed rights to the antibody in 2022 from Hong Kong-based Akeso Inc., which has since gained Chinese approval in NSCLC.

Astellas nabs Evopoint’s CLDN18.2-targeting ADC for $1.34B

In yet another China antibody-drug conjugate (ADC) deal, Astellas Pharma Inc. is inlicensing a phase I/II ADC targeting Claudin 18.2 from Evopoint Biosciences Co. Ltd. for up to $1.34 billion. Under terms of the deal, Tokyo-based Astellas gains exclusive global rights to develop and commercialize XNW-27011, excluding mainland China, Hong Kong, Macao and Taiwan. In exchange, Suzhou, China-based Evopoint will receive a $130 million up-front payment and is eligible to receive $70 million in near-term payments and additional development, regulatory and commercialization milestone payments up to $1.34 billion, plus royalties on sales.

EU launches new strategy supporting growth of innovative startups

The EU is having another go at improving access to capital for biotechs and science-based startups, in a bid to enable them to remain anchored in Europe. The Startup and Scaleup strategy, announced on May 28, is a response to the long-running problem that although Europe has strong foundations in its academic research, the innovative companies this science spawns often end up being acquired by U.S. companies, or moving to the U.S. to list on Nasdaq or the New York Stock Exchange. The shortcomings the strategy aims to address are well-rehearsed: The European venture capital market is not integrated; institutional investors such as pension funds do not invest in cash-burning, high risk startups; and public markets are closed to pre-revenue companies.

CSPC hints at three upcoming deals worth $5B for EGFR ADC, others

CSPC Pharmaceutical Group Ltd. on May 30 disclosed that the company was engaged in ongoing negotiations with unnamed, independent third parties regarding three license deals and collaborations that could total up to $5 billion combined. Details on the ongoing negotiations were scant. However, CSPC described one to revolve around the development, manufacturing and commercialization of an epidermal growth factor receptor antibody-drug conjugate. Talks are also ongoing for its “other pharmaceutical products” developed with the group’s technology platforms. One potential deal is at an “advanced stage,” according to the company, and is currently expected to be finalized in June 2025. CSPC noted that the $5 billion represents the estimated aggregate of up-front, development and commercialization milestone payments of all three deals.

Biopharma grants reach $1.37B across 111 deals in early 2025

From January to April 2025, biopharma grants totaled $1.37 billion through 111 transactions. The National Institutes of Health led biopharma grant funding over the first four months of the year with eight awards.

New EOs impacting biopharma, med tech

A dynamic chart of the latest executive orders (EOs) from the Trump administration that have been published in the Federal Register and that directly impact the biopharmaceutical and medical technology sectors.

The BioWorld Insider podcast: The importance of balancing AI and people in drug development

More and more, artificial intelligence is becoming inseparable from drug development. But it needs to be well integrated with the right people and support technologies in order to be successful, according to Josep Bassaganya-Riera, the founder and CEO of Nimmune Biopharma Inc. Nimmune has leveraged methods of AI-enabled drug discovery to develop a number of late-stage therapeutics using a strategic model Bassaganya-Riera first developed at Landos Biopharma Inc., a previous venture which was sold to Abbvie in 2024. As the founder of several other companies, Bassaganya-Riera has more than 20 years in the industry and he shared his insights and experience on the podcast about the crucial importance of getting technology and people in balance. The key, he said, is to have the right people in the same room interacting with each other and the technology.

Also in the news

Accuredit, Alcon, Ausperbio, Bayer, Biohaven, Capsida, Context, Corestemchemon, Daiichi, Eton, Immunic, Invo, Jiangsu Hengrui, Keros, Merck, Moderna, Naya, Neurocrine, Nexus, Oric, Pepgen, RBL, Revelation, Schrödinger, Stealth, Tashya Gene, Uniqure, Vima