Climb Bio Inc.’s stock-tickling event May 5 highlighting Fc-enhanced monoclonal antibody (mAb) budoprutug, followed two days later by a financial update, has kept Wall Street buzzing. Mizuho analyst Joseph Catanzo likes Climb’s “conviction that CD19 represents a best-in-class pan-B-cell depletion target across antibody-mediated autoimmune diseases – a relative white space for conventional mAbs,” he said in a report. Shares (NASDAQ:CLYM) jumped from $10.74 to $12.48 between May 6 and 7, an increase of almost 15%, and were trading today at $11.86, down 4 cents.

Odyssey’s IPO, placement brings $304M to lead drugs in IBD, lupus

Raising $279 million in an IPO and another $25 million in a concurrent private placement, Odyssey Therapeutics Inc. is advancing its lead phase II asset, OD-001, in ulcerative colitis, a form of inflammatory bowel disease (IBD), with plans to bring its SLC15A4 program into the clinic for lupus. In the upsized IPO, the company offered 15.5 million shares of common stock priced at $18 each, the high point of the Boston-based company’s price range. Another 1.39 million shares were sold at the same price to an affiliate of TPG Life Sciences Innovations. Total gross proceeds to Odyssey from both financings combined were $304 million. Odyssey initially filed for an IPO in January 2025 but withdrew it by June determining that it was not in the company’s best interests. It refiled for the IPO in April of this year, posting a price range earlier this week of between $16 and $18 per share, with the initial intent to offer 13.24 million shares.

Mobia debuts on Nasdaq to bring stroke therapy to more patients

Mobia Medical Inc. began trading on Nasdaq under the ticker MOBI on May 8. The company priced its IPO at the midpoint of its proposed $14 to $16 range, selling 10 million shares at $15 each and raising approximately $150 million. Mobia has developed Vivistim Paired VNS, a vagus‑nerve stimulation therapy which improves upper-limb function in chronic ischemic stroke survivors with moderate to severe impairments.

Scarlet raises $4M to take manufactured red blood cells into clinic

Scarlet Therapeutics Ltd. has demonstrated its manufactured red blood cells (RBCs) act in the same way as their natural counterparts in vivo, opening the way for the cells to be used as drug delivery vehicles and raising the possibility they could replace conventional blood transfusions. To build on this, Scarlet has closed a $4 million seed round to work on the first clinical application, in which RBCs loaded with therapeutic proteins will be used to treat rare metabolic diseases. It has taken more than two decades of research to reach the point of immortalizing cell lines and establishing master cell banks from hematopoietic stem cells extracted from donor blood. That achievement now enables scaled up and reproducible production runs.

APAC monitors hantavirus as Singapore isolates 2 from cruise ship

Singapore’s Communicable Diseases Agency on May 7 said that it isolated two residents for hantavirus testing after the individuals disembarked from an Atlantic cruise ship on May 2 and May 6, respectively. Infectious disease agencies across the Asia-Pacific (APAC) region issued formal advisories this week, with most saying that the risk of mass transmission of hantavirus cardiopulmonary syndrome, linked to the Andes virus, is low.

In vivo mRNA gene therapy platform reprograms cytotoxic T cells

A new mRNA and lipid nanoparticle (mRNA-LNP) platform could selectively reprogram in vivo cytotoxic effector T cells (Teff), the cells responsible for eliminating infected or tumor cells. To achieve this, scientists at the University of Pennsylvania conjugated LNPs with fractalkine, a molecule that binds to the CX3CR1 receptor, which is a marker of Teff cells. Using this strategy, the researchers delivered an mRNA encoding new proteins such as IL‑2 or human CD62 L‑selectin, opening the door to temporarily reprogramming these cells within the body, both in the blood and in lymphoid tissue, where they reside and become activated.

Follow-ons hit 7-year high, lead med-tech's $10B start to 2026

Med-tech financing activity in the first four months of 2026 reached $10.05 billion, broadly in line with 2025 and continuing a recovery from the contraction seen in 2023. Follow-on offerings were the standout story, surging to $4.75 billion, the strongest January-through-April total since 2019 and more than double the same period in 2025. The sector's IPO window also remained open, with $1.12 billion raised in the first four months.

Also in the news

Aim, ALX, Anagram, Argenx, Armata, Atara, Bayer, Becton Dickinson, Bionano Genomics, Bioora, Bright Uro, Cardiol, Cartography, Cytokinetics, Delphi, Eko Health, Endologix, Engene, Entrada, GSK, Halozyme, Incyte, Kuros, Leonabio, Lifescan, Lift, Marius, MBX, Microsure, Novartis, Novo Nordisk, Oragenics, Parabilis, Parcelbio, Partner, Rapid Medical, Repertoire, Scienture, Signy, Torl, Totus, Travere, Viridian, Wellington Zhaotai