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Home » Newsletters » BioWorld

BioWorld

Jan. 16, 2024

View Archived Issues
Layoff, shutdown illustration

Lirentelimab out on failed phase II data; Allakos restructures

Allakos Inc. terminated all development of its lead drug, anti-Siglec-8 antibody lirentelimab (AK-002), and is cutting its workforce in half, following phase II failures for atopic dermatitis and chronic spontaneous urticaria. The San Carlos, Calif.-based company will now focus on phase I trials for anti-Siglec-6 antibody AK-006 as part of a restructuring that stretches the runway into mid-2026. Shares (NASDAQ:ALLK) sank by 60.2%, down $1.80, to close at $1.19 on Jan. 16. Read More
Handshake with dollar sign and checkmark

Larger value, fewer transactions: biopharma deals up modestly while M&As soar 80% in 2023

The landscape of biopharma deals and M&As has seen a transformative shift, with a year-over-year drop in transaction numbers while value has increased. Overall, biopharma deals saw an uptick in value of nearly 6%, and biopharma M&As concurrently soared 80% higher in value than the previous year. Read More
Biotech deal illustration

Korean confectionary giant Orion to acquire biggest stake in Legochem

Korean confectionary company Orion Holdings Inc. is growing its biotech presence by purchasing a majority stake of 25% in one of the hottest Korean antibody-drug conjugate developers, Legochem Biosciences Inc., although stocks dropped on the news. Under the contract announced Jan. 15, Seoul-headquartered Orion agreed to acquire a 25.73% stake in Daejeon-based Legochem by securing about 9.36 million shares for a total of ₩548.7 billion (US$412.11 million) by the deadline of March 29, 2024. Read More
Toll like receptor in cell membrane illustration

Axelia Oncology takes its TLR2/6 agonist into the clinic to harness the innate immune system

Axelia Oncology Pty Ltd. was spun out of Ena Respiratory Pty. Ltd., which developed a series of synthetic Toll-like receptor (TLR) 2/6 agonists for nasal delivery to treat respiratory infections, including influenza and SARS-CoV-2. Although the pegylated TLR 2/6 agonist, INNA-051, was initially focused on antiviral activity, the company discovered that it also worked in oncology models, and Axelia was spun out to focus on oncology, CEO Phil Kearney told BioWorld. Read More
EMA logo on mobile screen, vials, syringes

EMA grants 77 approvals in 2023, outpaces FDA in biosimilars

The EMA has once again come in behind the U.S. FDA, granting market access to 77 new products in 2023, fewer than half the 157 approvals the FDA processed in the 11 months from January through December 2023. Read More

FDA approves Vertex’s Casgevy for beta-thalassemia two months early

Though the PDUFA date for its BLA wasn’t until March 30, 2024, Vertex Pharmaceuticals Inc. celebrated the U.S. FDA approval Jan. 16 for Casgevy (exagamglogene autotemcel), expanding use the CRISPR/Cas9 gene-edited cell therapy in patients, 12 and older, with transfusion-dependent beta-thalassemia. Read More

Holiday notice

BioWorld's offices were closed in observance of Martin Luther King Jr. Day in the U.S. No issue was published Monday, Jan. 15. Read More

ICYMI: Week in review, Jan. 8-12, 2024

A quick look back at top stories. Read More

Biggest gainers and losers for Jan. 8-12, 2024

The top 10 biopharma stock gainers and losers for the week. Read More

Appointments and advancements for Jan. 16, 2024

New hires and promotions in the biopharma industry, including: Aclaris, Amring, Cognigenics, Hookipa, ITM, Neurogene, Ocugen, Paratek, Vaxart. Read More

Financings for Jan. 16, 2024

Biopharmas raising money in public or private financings, including: Alto, Cyrano, Defence, Delsitech, Disco, Prota, Stalicla, Vaxart, Xortx. Read More

In the clinic for Jan. 16, 2024

Clinical updates, including trial initiations, enrollment status and data readouts and publications: Renovion. Read More

Other news to note for Jan. 16, 2024

Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Accurus, Basilea, Bausch + Lomb, Biosenic, Compass, Coya, Deka, Dewpoint, Emergex, Epilepsy, Epivario, Eyenovia, Genevant, Immpact, Intravacc, Medsenic, Metabomed, Phebra, Spexis, Substipharm, Therapeutic Solutions, Tome, Transcode, Veritascience, Zuellig. Read More

Regulatory actions for Jan. 16, 2024

Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Amryt, Remegen, Santhera, Takeda, Zevra. Read More

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