January layoffs persist with Quince, Inovio

Today's Big News

Jan 31, 2023

Pfizer punts pair of orphan drugs amid rare disease R&D rethink


Despite blockbuster Altos funding, longevity-focused investment drops by $1B: report


Quince lays off 47% of staff, stakes sale sign for asset days after separate pipeline deal


Inovio orders 2nd round of layoffs in 6 months after vaccine flops


Gilead nixes Matinas oral COVID-19 antiviral to focus on late-phase internal program


After snagging most expensive drug title, uniQure doles out $10M upfront for ALS prospect

 

Featured

Pfizer punts pair of orphan drugs amid rare disease R&D rethink

Pfizer, amid a rethink of its rare disease R&D strategy, has punted a pair of orphan drug candidates from its clinical development pipeline in a cull that also narrowed the opportunities open to the near-approval JAK3/TEC inhibitor ritlecitinib.
 

Top Stories

Despite blockbuster Altos funding, longevity-focused investment drops by $1B: report

You might have assumed that given the $2 billion launch of Altos Labs—and all the buzz the startup garnered by poaching GSK veteran Hal Barron to become CEO—that funding in longevity research would be sky high in 2022. But a new report suggests otherwise.

Quince lays off 47% of staff, stakes sale sign for asset days after separate pipeline deal

Quince Therapeutics is laying off nearly half of its staff and looking to out-license a preclinical asset almost immediately after selling a portion of its pipeline to Lighthouse Pharmaceuticals.

Inovio orders 2nd round of layoffs in 6 months after vaccine flops

Six months after laying off 18% of its workforce, Inovio is sending out more pink slips. This round of redundancies will see 11% of remaining employees heading for the exits as the biotech unveils yet another restructuring.

Gilead nixes Matinas oral COVID-19 antiviral to focus on late-phase internal program

Gilead has pulled out of an oral COVID-19 antiviral project, telling Matinas BioPharma that it is focusing on its own approach at the expense of its collaborator’s lipid nanocrystal (LNC) technology platform.

After snagging most expensive drug title, uniQure doles out $10M upfront for ALS prospect

Three months after scoring FDA approval for a hemophilia B therapy, uniQure is sealing a deal for its next big thing, with $10 million upfront being offered to Apic Bio for an amyotrophic lateral sclerosis gene therapy. 

Pfizer warns Comirnaty sales will plummet by nearly two-thirds in 2023. And Paxlovid won't fare much better

Despite a plan to significantly jack up the price of Comirnaty when the U.S. goes to a commercial model this year for COVID-19 vaccines, Pfizer expects revenue from the shot to plummet by 64% in 2023. And COVID oral antiviral Paxlvoid will be in no better situation, Pfizer said Tuesday.

White House plans to end COVID emergency declarations May 11

The White House plans to end the COVID-19 national emergency and public health emergency on May 11, the Biden administration said Monday.

Medtronic lands FDA Class I tag as it adds 359K potentially leaky dialysis catheters to recall

Just a few months after it began a recall of more than 1 million hemodialysis catheters that were found to be at risk of leakages, Medtronic has spotted the same issue in yet another model of its catheters.

Seeking improved efficacy, Sensorion taps Eveon to deliver gene therapy to inner ear

Sensorion has partnered to improve the delivery of its hearing loss gene therapy OTOF-GT. Working with Eveon, the French biotech is aiming to develop an injection system for getting its therapies to the inner ear.

Black Health launches 'Get Me Vaxxed' campaign aimed at boosting COVID shot uptake for Black children

New York-based nonprofit Black Health is running a new campaign for Black History Month in February.

Commonwealth Fund: US has lower life expectancy but spends most on health compared to other countries

A new analysis from the Commonwealth Fund discovered the U.S. spends the most on healthcare but has a lower life expectancy rate compared to other wealthy countries.
 
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