Eli Lilly and Co. plans to buy Centessa Pharmaceuticals plc for $6.3 billion in up-front cash and another potential $1.5 billion through contingent value rights, gaining access to a pipeline of orexin receptor 2 (OX2R) agonists for sleep disorders. The pharma is re-entering a field that has multibillion-dollar potential and one that could emulate the success seen with its obesity program. Centessa, of Boston and London, has a lead candidate, ORX-750, with positive phase IIa data in narcolepsy types 1 and 2 and idiopathic hypersomnia, as well as two other OX2R agonists: ORX-142 for neurological and neurodegenerative disorders, and ORX-489 for neuropsychiatric disorders. The M&A, expected to close in the third quarter, boosted not only Centessa’s shares (NASDAQ:CNTA) – which rose 45% to $39.99 in early trading March 31 – but also competitor Alkermes plc’s shares (NASDAQ:ALKS), up 17% to $35.41 midday, as it has a similar candidate in development.

Biogen paying $5.6B for Apellis; CVRs, too

Biogen Inc. and Apellis Pharmaceuticals Inc. inked a deal whereby the former has agreed to acquire all outstanding shares of the latter for $41 each, or about $5.6 billion. Apellis stockholders will also take ownership of a nontransferable contingent value right for each Apellis share held, entitling the holder to bank two payments of $2 per share if annual global net sales thresholds are met with Syfovre (pegcetacoplan), Apellis’ complement inhibitor approved by the U.S. FDA in February 2023 for geographic atrophy secondary to age-related macular degeneration. Shares of Apellis (NASDAQ:APLS) were trading at $40.28, up $23.19, or 135%. Biogen (NASDAQ:BIIB) was selling for $178.99, down $8.58.

Galapagos rebrands, moves forward in autoimmune diseases

Galapagos NV is about to bury its recent turbulent past and sail off for the future with its near €3 billion cash pile and the new name of Lakefront Biotherapeutics NV. The foundation for the transition was laid earlier this month in an arrangement with Gilead Sciences Inc., holder of 25% of Galapagos’ equity, to “co-parent” the assets of Ouro Medicines LLC, which Gilead is acquiring up to $2.17 billion. On March 31, Galapagos confirmed details of the deal, under which it will conduct further development of Ouro’s lead asset, gamgertamig (OM-336), a bispecific T-cell engager antibody that is in phase Ib dose-ranging studies in a number of rare autoimmune diseases.

Simcere’s rademikibart meets phase III endpoints in atopic dermatitis

Simcere Pharmaceutical Group Ltd.’s monoclonal antibody, rademikibart (CBP-201), met the primary endpoint in a Chinese phase III study in adults and adolescents with moderate to severe atopic dermatitis (AD). The company presented results of the phase III Radiant-AD study at the American Academy of Dermatology meeting in Denver on March 30. As previously reported by BioWorld, Simcere entered an exclusive licensing and collaboration agreement with Connect Biopharma Holdings Ltd., obtaining rights to develop, manufacture and commercialize rademikibart for all indications in China.

Whoop secures $575M, with Abbott a strategic investor

Whoop Inc. secured $575 million in a series G funding round at a $10.1 billion valuation to advance its AI-powered wearable platform for personalized and preventive health care. Abbott Laboratories joined the round as a strategic investor, backing the company’s push to expand access to its device amid growing demand.

Braveheart finds phase II positive for cardiac myosin inhibitor

Braveheart Bio Inc. reported positive results from an open-label randomized phase II dose-ranging study of BHB-1893 (HRS-1893) in obstructive hypertrophic cardiomyopathy. Results presented at the American College of Cardiology’s Annual Scientific Session and Expo in New Orleans showed BHB-1893 treatment was associated with rapid and substantial reductions in left ventricular outflow tract gradient, the primary endpoint of the study. BHB-1893 is an oral cardiac myosin inhibitor that Braveheart licensed from Jiangsu Hengrui Pharmaceuticals Co. Ltd. in September 2025 for $65 million up front and up to $1.01 billion in development and sales milestone payments, plus royalties.

US FDA says no, again, to Vanda’s tradipitant in gastroparesis

The path forward, at least in the U.S., is getting narrower for Vanda Pharmaceuticals Inc.’s tradipitant as a treatment for gastroparesis, a serious disorder for which there’s been no new treatment for several decades. Sara Brenner, the principal deputy FDA commissioner, denied Vanda’s request for an agency hearing on CDER’s proposal to refuse to approve the drug for that indication. “I find that there is no genuine and substantial issue of fact justifying a hearing,” Brenner said in issuing an order refusing to approve the NDA. Vanda’s recourse, she noted, is to submit a petition for reconsideration to the FDA commissioner.

Supreme Court shuts the door to three life sciences petitions

What do a patent dispute over a CRISPR-Cas system, a rejected whistleblower case involving lab tests and a vaccine injury claim parading as multidistrict tort litigation have in common? All three were denied cert in the U.S. Supreme Court’s latest orders list. Consequently, two Agilent Technologies Inc. patents relating to a CRISPR-Cas system for gene editing will remain invalid. A former Quest Diagnostics Inc. employee can’t move forward with her fourth amended qui tam complaint against the company. And the multidistrict Gardasil liability litigation against Merck & Co. has hit the end of the road.

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