Layoff wave engulfs biotechs

Today's Big News

Feb 23, 2023

As Novartis pulls back from legacy sickle cell program, Intellia CEO calls the market 'wide open'


Moderna, on its back foot, reassures investors on flu vaccine after mixed phase 3 data


Layoffs not letting up: Impel, Cybin, EQRx all trim head counts with eyes on saving cash


Prilenia searches for positive signs as oral ALS drug fails to improve disease severity in phase 2


Jounce pounces on exit opportunity, laying off 57% of staff alongside reverse merger with Redx


Capsida reels in another Big Pharma deal, this time diving into eye disease with AbbVie


Graphite pencils out sickle cell therapy after adverse event, cutting half of workforce loose


AstraZeneca doubles down on hot cancer target, paying $63M for ADC months after bispecific deal


Fallout from Quantum Genomics' phase 3 fail claims top executives as biotech searches for a future


Biocryst hits another hurdle, delays trial for its 1 remaining clinical candidate


Infinity pools resources with MEI Pharma in oncology-focused merger


After a tough year, VBL merges with Notable Labs

 

Featured

As Novartis pulls back from legacy sickle cell program, Intellia CEO calls the market 'wide open'

Novartis will no longer develop an ex vivo sickle cell disease program that was part of an older deal with Intellia, and the gene editing biotech’s CEO John Leonard thinks he knows why.
 

Top Stories

Moderna, on its back foot, reassures investors on flu vaccine after mixed phase 3 data

Moderna spent much of its fourth-quarter earnings call reassuring investors that its flu vaccine is still on an approval pathway after lukewarm phase 3 data dinged the company’s hot streak. 

Layoffs not letting up: Impel, Cybin, EQRx all trim head counts with eyes on saving cash

Migraine therapy maker Impel Pharmaceuticals, psychedelics-focused Cybin and cancer and immuno-inflammatory-orientated EQRx are the latest biotechs handing out pink slips to employees as the flood of layoffs continues in the industry.

Addressing the next wave of COVID-19 through a new approach to vaccines

Ocugen remains diligent in developing innovative COVID-19 vaccine options—including a non-mRNA injectable and next-gen inhaled vaccine—to meet the current need and prepare for an annual booster strategy.

Prilenia searches for positive signs as oral ALS drug fails to improve disease severity in phase 2

Prilenia Therapeutics’ amyotrophic lateral sclerosis (ALS) therapy did not improve disease severity, but the biotech is pointing to “positive trends” from an exploratory analysis, suggesting that some patients' experienced a slower decline.

Jounce pounces on exit opportunity, laying off 57% of staff alongside reverse merger with Redx

Jounce Therapeutics is cashing out. Despite having more than $150 million in the bank, the struggling biotech has decided it lacks the means to advance its clinical candidates, leading it to lay off 57% of its staff and enter into a reverse merger with Redx Pharma.

Capsida reels in another Big Pharma deal, this time diving into eye disease with AbbVie

Capsida Biotherapeutics is stepping beyond neurodegenerative conditions, diving into the world of eye disease with an AbbVie expansion pact for three new gene medicine targets.

Graphite pencils out sickle cell therapy after adverse event, cutting half of workforce loose

Graphite Bio is writing off a sickle cell therapy once heralded as a potential cure and cutting half its staff—including two executives—after a review of the business. 

AstraZeneca doubles down on hot cancer target, paying $63M for ADC months after bispecific deal

AstraZeneca is doubling down on the hot cancer target Claudin18.2, paying KYM Biosciences $63 million upfront for the global rights to an early-phase antibody-drug conjugate. The deal comes 10 months after the Big Pharma entered the space by paying $25 million upfront for a bispecific antibody.

Fallout from Quantum Genomics' phase 3 fail claims top executives as biotech searches for a future

After ending all cardiology work in the wake of a failed phase 3 trial, Quantum Genomics is now reorganizing its board of directors, restructuring staff and again conducting a strategic review.

BioCryst hits another hurdle, delays trial for its 1 remaining clinical candidate

Just a few months after discontinuing its most advanced pipeline asset, BioCryst Pharmaceuticals is now delaying testing of its only remaining clinical candidate.

Infinity pools resources with MEI Pharma in oncology-focused merger

The latest example of a biotech-to-biotech merger sees Infinity Pharmaceuticals subsumed by MEI Pharma to create a combined company that will focus on Infinity’s lead asset along with two candidates from MEI.

After a tough year, VBL merges with Notable Labs

After a rocky 2022 for VBL Therapeutics, the biotech is merging with Notable Labs, a cancer-focused platform company that just pulled in $10.3 million from investors.  

Former UK health minister appointed to review country's clinical trial environment

The U.K. government has name James O’Shaughnessy, a former health minister, to lead an independent review of the state of commercial clinical trials in the country.

Apax takes big stake in French CRO Porsolt, expects to grow staff 40% in 4 years

London-based private equity firm Apax Partners has taken a majority stake in Porsolt and expects to grow the French CRO by increasing staff as much as 40% in the next four years.

Eisai's Leqembi shunned as CMS keeps strict Alzheimer's drug restrictions in place

Despite new phase 3 data for Eisai's Leqembi, the Centers for Medicare & Medicaid Services doesn't think there is enough evidence to reconsider a restrictive coverage policy for anti-amyloid Alzheimer's drugs.
 
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'The Top Line': Moderna vs. Pfizer-BioNTech and this week's news

This week on "The Top Line," we discuss the intense patent fight between Moderna and Pfizer-BioNTech around the mRNA technology used in their COVID-19 vaccines. We also talk about negotiating vaccine contracts via text messages, one of the biggest medtech deals of the year and other top headlines from this week.

 

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For sponsors, cost is a key concern when it comes to managing the supply of their clinical trials. A financial project analyst (FPA) is a specialized expert who can help control clinical supply costs and keep the project within budget. Explore the critical role that a Financial Project Analyst plays in clinical trial supply and budget management.
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Clinical Supply Solutions for the Asia-Pacific Region

Learn how Catalent’s extensive network across APAC can meet a wide range of clinical supply needs for sponsors conducting trials within the region.
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Designing an Optimal APAC Clinical Supply Chain

Discover key considerations that every trial sponsor should know when navigating the complex clinical supply distribution landscape across Asia-Pacific.
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How can specialized expertise help you optimize your clinical supply chain? Learn about the roles and responsibilities of unique experts such as clinical supply management, project management, and financial project analysis.
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A Strategy to Standardize Process Characterization & Late Phase Development

Learn more on an approach for process characterization for the production of a monoclonal antibody, which will improve the efficiency and effectiveness of the process by targeting the right design and number of experiments.

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Supply Services to Support Clinical Trials in Japan & Beyond

Explore Catalent’s newest clinical supply facility in Japan, including the comprehensive services & solutions it offers to help support trials both in-country & around the world.
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Questions You Need to Ask Your CRO About Clinical Supply

Planning on using a CRO to support your next clinical study? This infographic outlines critical areas to address at the start of the relationship in order to ensure that budget and timelines keep on track for the duration of the trial.
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A Strategy to Standardize Process Characterization & Late Phase Development

Learn more on an approach for process characterization for the production of a monoclonal antibody, which will improve the efficiency and effectiveness of the process by targeting the right design and number of experiments.

 

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