Wall Street pushback against relaxin player Tectonic Therapeutic Inc. was sharp, but a trial design that differs could save the drug from the fate of Astrazeneca plc’s long-acting relaxin-2 analogue, AZD-3427, which the pharma giant has “removed from phase II,” where it was being tested in a trial called Re-phire, because of less than ideal efficacy.

Marking an important day for those with atopic dermatitis, shares of two biopharmas surged on clinical data suggesting new biologics are on their way to help address 40% of patients with uncontrolled disease.

Global investors in med tech are confident about exit opportunities in the year ahead. The strategics have already started making acquisitions, the IPO window – which reopened last year – is expected to remain active, and the investment firms have companies in their portfolios that are well-positioned for exit. With fundamentals in the sector still robust, 2026 is expected to reward companies that deliver clear clinical value.

As its GLP-1 rival goes after compounders, Eli Lilly and Co. started the week with news beyond its diabetes and obesity franchise. The company, which disclosed a new agreement with Innovent Biologics Ltd., followed up a short time later with plans to acquire Orna Therapeutics Inc., marking its latest foray in the in vivo therapy space.

Breye Therapeutics ApS reported positive phase Ib data for its oral gap junction modifier drug danegaptide in diabetic retinopathy and is now raising a €50 million (US$59.6 million) series A round to move into the next phase of development.

Paragonix Technologies Inc.’s Kidneyvault portable renal perfusion system managed to preserve and enable the reallocation of a donor kidney for more than 29 hours, despite prolonged ischemic time, multiple handoffs and two commercial flights. Throughout the period, the Kidneyvault maintained stable hypothermic preservation, preventing the organ from being discarded and allowing it to be transplanted into a patient.