Shares of Avalo Therapeutics Inc. (NASDAQ:AVTX) were trading at $21.78, up almost 34%, or $5.52, on positive top-line results from the phase II Lotus trial evaluating the efficacy and safety of abdakibart in adults with moderate to severe hidradenitis suppurativa (HS). Wayne, Pa.-based Avalo said Lotus met its primary endpoint of the proportion of patients achieving Hidradenitis Suppurativa Clinical Response 75 at week 16, and the company plans to advance abdakibart, a humanized monoclonal antibody that binds to IL-1 beta, into registrational phase III work for HS.

Bayer buying Perfuse for $300M up front in potential $2.45B deal

In its first substantial M&A transaction since 2021, Bayer AG is buying Perfuse Therapeutics Inc., a firm that has operated quietly until reporting positive midstage data for PER-001, an endothelin antagonist designed as a slow-release, dissolvable implant injected into the back of the eye every six months for treating ischemia-induced ocular diseases. In exchange for $300 million up front, Bayer gains rights to the drug, currently in testing for glaucoma and diabetic retinopathy, with development, regulatory and commercial milestones that could raise the total potential deal to $2.45 billion. Bayer describes the deal as complementing its current ophthalmology segment, led by blockbuster VEGF-targeting Eylea (aflibercept), partnered with Regeneron Pharmaceuticals Inc.

Resmed boosts sleep health portfolio with Noctrix buy

Resmed Corp. has agreed to acquire Noctrix Health Inc. for $340 million, boosting its sleep health portfolio. Noctrix has developed Nidra, a wearable neuromodulation device that treats restless legs syndrome (RLS) without disrupting sleep. With RLS impacting approximately 7% of adults globally, including about 17 million people in the U.S., the technology offers a non-drug option that could potentially treat a significant proportion of this patient population.

GSK licenses siRNA asset in potential $1B deal for Siranbio

In a deal that could be worth up to $1 billion for Suzhou Siran Biotechnology Co. Ltd. (Siranbio), GSK plc licensed exclusive worldwide rights to the siRNA oligonucleotide SA-030, which has recently entered phase I trials for cardiometabolic disease. London-based GSK will pay an undisclosed up-front fee, as well as potential milestone payments tied to regulatory and commercial achievements, and tiered royalties on global product net sales. The deal excludes mainland China, Hong Kong, Macau and Taiwan, where Siranbio will retain the rights. Siranbio is leading development of SA-030 through phase I completion, at which point GSK will assume all development, and oversee regulatory filings and commercialization within its licensed territories. SA-030 targets activin receptor-like kinase 7, a known mechanism for cardiometabolic disease, the leading cause of death in about half of patients with chronic kidney and liver diseases.

Swiss Biotech reports record private investment, employment in 2025

Privately-funded biotechs in Switzerland raised a record CHF1.15 billion (US$1.47 billion) in 2025, an increase of 38% over 2024, and 45% of the total capital raised by the sector. This was a significant advance on previous years, when private companies typically attracted about 30% of overall investment. Notable rounds included respiratory diseases specialist Windward Bio AG raising $200 million in a series A that closed in January; glycoengineering specialist Glycoera AG closing a $130 million series B in May; and Nuclidium AG, which raised a $99 million series B to advance its copper-based radiopharmaceuticals into two phase II trials.

Eyes are first prize for newco Link Biologics

The classic origin story for a biotech startup is that of a scientist who nurtures his work out of a university and to commercial success. For Link Biologics and its TSG6-based pipeline, the story is the other way around. In the course of “what I hope would have been a great career” at Novo Nordisk AG, Reuben Dawkins began thinking about “how there’s a lot of excellent science in U.K. universities that make a real difference in patients’ lives, but technologies don’t make it out to patients and have nothing to do with the underlying science, right? It requires so much more. And for some reason I thought maybe I could be a catalyst or make a difference, and so then I started to look for U.K.-based university technology,” Dawkins told BioWorld. That search ultimately led him to the University of Manchester, where professor of biochemistry Tony Day and senior lecturer Caroline Milner were working on Link_TSG6.

Kailera's record IPO headlines strong April for biopharma financings

Biopharma IPO activity picked up in early 2026, with $3.26 billion raised from January through April, more than doubling 2025 levels of $1.26 billion in the same period. April brought two Massachusetts-based biopharma IPOs to market, with the standout public debut Kailera Therapeutics Inc.'s $718.8 million raise, which eclipsed Sana Biotechnology Inc.’s $675.6 million IPO from 2021.

Multiple appearances on Priority Watch List leading to action?

It’s a sure bet when the U.S. Trade Representative (USTR) releases its annual Special 301 Report that Chile, China, India, Indonesia, Russia and Venezuela will be on the Priority Watch List. 2026 was no exception. After more than a decade of being spotlighted among the U.S. trading partners that fail to provide adequate, effective protection and enforcement of U.S. intellectual property, the six countries practically own the Priority Watch List, although other countries have come and gone from the list over the years. For the most part, the complaints lodged against each of the six, especially China, have remained the same. Yet the report is supposed to be a “positive catalyst for change,” according to the USTR. This time around, the agency is proposing a harder stance against the countries that have been priority listed for several years.

China med-tech raises: Star Sports’ $105M IPO; Cofoe nabs $133M

Star Sports Medicine Co. Ltd. debuted on the Hong Kong Stock Exchange with an HK$829.55 million (US$105.86 million) IPO May 5, with shares closing about 118% higher on the first day. Beijing-based Star Sports is China’s fourth largest sports medicine implant and instruments provider. The company manufactures clinical solutions for bone and joint conditions, as well as the rehabilitation and prevention of sports-related injuries across plants in Beijing, Jiangsu and Hunan. In a secondary “A+H” listing, Cofoe Medical Technology Co. Ltd. raised about HK$1.06 billion through its Hong Kong stock sale May 6. The mass-market medical device company, founded in 2007, has a broad portfolio of household medical equipment such as blood pressure monitors and glucose meters.

Also in the news

4D Path, Abivax, Assertio, Basking, Brainscope, Cellectar, Clear Scientific, Clene, Coopercompanies, Cytokinetics, Diagonal, Discure, Earlydiagnostics, Elaris, Eli Lilly, Eupraxia, Fate, Garda, GC, Hemab, Integra, J&J, Mana.bio, Matrivax, Multi4, Neurocare, Ocugen, Opus Genetics, Palisade, Picard Medical, Pilatus, Profusa, Regeneron, Sail, Sanofi, Senseonics, Telix, Tris, Ultragreen.ai, Valion, Viatris, Viridian