Latest from Mandy Jackson
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.
J&J’s decision about whether to in-license HexaBody-CD38 (GEN3014) was seen as a key milestone for Genmab this year, but without the opt-in the company is discontinuing development.
Biomedtracker’s fourth quarter data show a surge in public and private financings in 2024, but the two biggest categories – VC funding and follow-on offerings – have slowed in 2025. Also, Garuda raised a $50m series A-1 round, while Nuvation accessed $250m in royalty and debt financing.
Novo is making Wegovy available through a new direct-to-patient delivery option for individuals paying out of pocket for the obesity drug as the potential end of semaglutide compounding nears.
The US stock market broadly declined following increased tariffs on goods from China and new tariffs on goods from Mexico and Canada, but biopharma initially weathered the storm, while pharma faced some headwinds.
AbbVie is the latest big pharma to buy into the obesity space, licensing an amylin analog from Gubra for $350m up front, while Novo will pursue cardiometabolic targets with Gensaic’s AI-based platform.