Synlogic Inc. jolted Wall Street with news that the firm is scrapping for futility Synpheny-3, its pivotal study with labafenogene marselecobac (SYNB-1934) for phenylketonuria, and will evaluate strategic options. Shares of the Cambridge, Mass.-based firm (NASDAQ:SYBX) fell 48.7%, or $1.68, to end Feb. 9 at $1.77. Synlogic will cease operations and reduce its workforce by more than 90%, retaining only certain employees to help with the wind-down. Read More
Gene editing firm Metagenomi Inc. priced an IPO raising $93.8 million, while Telomir Pharmaceuticals Inc., a company developing small-molecule therapies targeting inflammatory disease, priced a more modest $7 million IPO. While they mark the second and third biopharma IPOs to price this week, and the sixth and seventh for 2024, the two aptly named companies are the first preclinical-stage ventures to test the public markets this year. Read More
The approval by the U.S. FDA in October of Pfizer Inc.’s Velsipity (etrasimod), an oral sphingosine-1-phosphate receptor modulator for moderately-to-severely active ulcerative colitis, brought renewed attention to the inflammatory bowel disease (IBD) landscape, where the hunt goes on for new alternatives. Among the promising soldiers in the march is Paris-based Abivax SA, which closed its IPO the same month. Read More
Biopharma deals in January reached $26.97 billion, marking the sixth-highest month in BioWorld’s records going back to 2016. It is an increase of nearly 25% from the $21.64 billion in deals in January 2023 and also is up from December. Value the first month of the year is more than 2023’s average monthly value of $18.14 billion, and likewise more than the average monthly value of any previous year. Read More
Bruton tyrosine kinase (BTK) enzyme inhibitors used to treat B-cell cancers, including chronic lymphocytic leukemia and non-Hodgkin lymphoma, also produce resistance by causing mutations in the protein. Now, a study on the BTK degrader NX-2127 showed the compound could be effective in eliminating BTK regardless of its mutations. Read More
Biopharmas raising money in public or private financings, including: Alligator, Bioxcel, Cel-Sci, Evoke, Helix Acquisition, Immix, Lineage Cell, Sensorion, Tenax, Tenaya, TME, YM. Read More
Clinical updates, including trial initiations, enrollment status and data readouts and publications: Adverum, Aim Immunotech, Amylyx, Applied Genetic Technologies, Biocardia, Genenta, Johnson & Johnson, Regenxbio, Revalesio, Tenax, Zymedi. Read More
Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Almirall, Auron, Basilea, C-Biomex, Eli Lilly, Foghorn, Kowa, Krystal Biotech, Nicox, Nippon Shinyaku, QSAM, Spexis, Telix, Vandria, Vicore. Read More
Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Ionis. Read More
