For years, the J.P. Morgan Healthcare Conference (JPM) kicked off with splashy headlines of major M&A activity among biopharma companies, but in 2026, the hype outweighed reality and in the end, no major merger announcements were made during the conference for companies developing therapeutics.

At a pair of panels on developing and selling drugs in Europe at the Biotech Showcase 2026 meeting in San Francisco, experts discussed the good, the bad and the ugly parts of the European drug development scene.

Microbiome specialist Enterobiotix Ltd. is in the throes of raising a new round of funding for a phase IIb trial after reporting positive results from the phase IIa study of EBX-102-02, an oral therapy for irritable bowel syndrome (IBS).