The volatile gene therapy space is getting a boost with Eli Lilly and Co.’s acquisition of Akouos Inc., which only a month before had received the first IND from the U.S. FDA for an adeno-associated virus (AAV)-based hearing loss treatment. Lilly plans to pay about $610 million for the company to get at AK-OTOF, Akouos’ lead candidate for treating hearing loss due to mutations in the otoferlin gene. Read More

South Korea's LG Chem Ltd., seeking new growth opportunities in the life sciences and a concrete footprint in the U.S., has proposed an all-cash acquisition of Aveo Pharmaceuticals Inc., with a deal value of $519.2 million.  Read More

Eye diseases specialist Oculis SA is set to add $200 million to its balance sheet by merging with the European Biotech Acquisition Corp., a special purpose acquisition company (SPAC) formed to invest in the European life sciences industry. Read More

Worg Pharmaceuticals Co. Ltd. raised nearly ¥400 million (US$55.6 million) in its series B financing. Founded in 2018, the company is developing immunotherapies to treat allergic and autoimmune diseases and other indications based on its two technology platforms, Pcfit and Apitope. Read More

Surge Therapeutics Inc. landed $26 million in funding through a series A fundraising round to accelerate development of its intraoperative immunotherapy hydrogel. Read More

South Korea’s drug regulator should consider revising orphan drug definitions or allow more new innovative drugs to be excluded from pharmacoeconomic assessments, which are required for new drugs to be reimbursed under Korea’s single-payer system, the European Chamber of Commerce in Korea said. Read More

The White House laid out several timelines Oct. 18 as part of a national biodefense strategy for countering biological threats and enhancing global pandemic preparedness. Read More

New hires and promotions in the biopharma industry, including: Abalos, Abintus, Actuate, Adarx, Alltrna, Anjarium, Atriva, Cinrx, Hangzhou Qihan, Versanis. Read More

Biopharmas raising money in public or private financings, including: Acrivon, Anokion, Avacta, Dice, Digitalis, Empyrean, Tradeup Acquisition, Vectivbio, Xentria. Read More

Clinical updates, including trial initiations, enrollment status and data readouts and publications: Apnimed, Arrivo, Athira, Bavarian Nordic, Cel-Sci, Clovis, Dare, Enanta, Gracell, Innovant, Kiora, Kintor, Leap, Mendus, Milestone, NGM, Palatin, Revive, Sage, Sorrento, Zynerba. Read More

Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Astrazeneca, Biocytogen, Bionomics, Cristal, Emergex, Eterna, Eucure, Eureka, Exacis, GSK, Ikena, Merck & Co., Mereo, Synaffix, Syncromune, Tempus, Treventis, Tvax. Read More

Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations:  Akeso, Biogen, Decibel, Eureka, GSK, Kira, Mereo, Minerva, Telix. Read More