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Finance Watch: Vir Restructures, Adds Sanofi Cancer Drugs To Clinical-Stage Pipeline

New Strategy Cuts 25% Of Workforce

 
• By Mandy Jackson

Restructuring Edition: Vir will end influenza, COVID-19 and T-cell-based viral vector platform programs to focus on clinical hepatitis and cancer assets. Also, FibroGen cut 75% of its workforce after a clinical trial failure, while Arbutus, HilleVax, Pfizer and others also announced layoffs.

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Vir Biotechnology, Inc. brought on a new CEO in 2023 and in 2024 it is bringing on a new therapeutic area, while announcing its second round of job cuts in less than a year. The infectious disease specialist announced a restructuring plan on 1 August that will give it a second therapeutic area focus – oncology – through a deal to acquire a portfolio of T-cell engaging therapeutics from Sanofi.

San Francisco-based Vir said it is taking decisive steps to strategically restructure and prioritize its resources around its highest-value opportunities,...

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How Teva Is Expanding Innovation To Fuel ‘Pivot To Growth’

 
• By Jessica Merrill

Teva VP-global R&D and chief medical officer Eric Hughes talked to Scrip about building the company’s innovative pipeline in its growth-acceleration phase.

Second Quarter M&A Activity Looks Like More Of The Same, Mostly

 
• By Joseph Haas

The biopharma sector booked nearly the same number of acquisitions in each of the past two quarters, according to Evaluate data, but there are some encouraging signs in Q2.

Will AstraZeneca Reach Summit And Be A PD-1xVEGF Player?

 
• By Kevin Grogan

Rumor mill suggests a $15bn licensing deal for ivonescimab is in the offing.

Novartis’s Cosentyx Suffers Rare Phase III Fail

 
• By Kevin Grogan

Multi-blockbuster falls short in a giant cell arteritis study.

More from Business

Eolo Pharma Advances In Obesity With Thermogenesis Approach

 
• By Aakash Babu

Emerging Company Profile: Early-stage biotech Eolo will seek cash and deals for its novel obesity drug SANA after positive Phase I results for weight loss, lean muscle mass preservation and fat mass reduction.

Novartis’s Cosentyx Suffers Rare Phase III Fail

 
• By Kevin Grogan

Multi-blockbuster falls short in a giant cell arteritis study.

In Brief: BioVersys And Shionogi Align In Non-Tuberculous Mycobacteria R&D

 
• By Joseph Haas

Deal Snapshot: Having recently raised an $89m IPO, BioVersys is partnering on and optioning rights to a preclinical NTM development program with Shionogi.