Latest from Mandy Jackson
J&J followed in the footsteps of Lilly and Merck, which have announced multibillion-dollar investments in US manufacturing since Donald Trump’s inauguration.
Public Company Edition: Cargo suspended development and cut 90% of its workforce to focus on strategic alternatives, while Pyxis and Kiromic laid off or furloughed employees. Also, Pfizer sold its remaining Haleon shares for $3.3bn, Galderma sold $1bn in bonds and other financings.
Private Company Edition: There have been five $100m-plus VC rounds so far this month, up from three in all of February. Flagship unveiled Lila Sciences with $200m, while Curevo and Insilico raised $110m in series B and E rounds, respectively. Also, Arbor Biotech garnered $73.9m.
Taiho’s acquisition of Swiss next-generation antibody-drug conjugate developer Araris is one of about 10 ADC deals so far in 2025. The companies previously partnered in 2023.
Vertex has the first-in-class NaV1.8 inhibitor for acute pain, Journavx, but Latigo plans to bring forward multiple best-in-class options for acute and chronic pain against NaV1.8 and other targets.
Restructuring Edition: Biopharma companies used fourth-quarter updates to reveal job and program cuts to conserve cash, including Sutro, Agenus, Coherus, Inozyme and Atea. Also, Vincerx’s reverse merger was terminated and Vaccinex, Oncternal, Syros plan to voluntarily delist.