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Today’s Big News

Apr 3, 2024

Genmab inks $1.8B ProfoundBio buyout for would-be Elahere rival, teeing up scrap for ADC market

Fierce Biotech's Quarterly IPO and M&A Roundup: Q1'24

#FierceMadness: The Best Biotech Name Tournament—Elite 8 RESULTS

Oruka spins out of Paragon with 3 assets, reverse merger and cash

Ascletis pulls FXR agonist from pipeline over phase 2 primary biliary cholangitis data

Prostate cancer ADC acquired from Fortis breaks FibroGen's clinical losing streak

Diagonal launches with $128M and a platform slanted toward agonist antibodies

Fierce Biotech Fundraising Tracker '24: Diagonal launches with $128M; T-cell therapy biotech Obsidian nets $160M

Featured

Genmab inks $1.8B ProfoundBio buyout for would-be Elahere rival, teeing up scrap for ADC market

By Nick Paul Taylor

Genmab is mounting a $1.8 billion challenge against its close collaborator AbbVie. The Danish biotech is using the money to buy ProfoundBio and gain control of a midphase antibody-drug conjugate that could compete against AbbVie’s Elahere.

Fierce Biotech's Quarterly IPO and M&A Roundup: Q1'24

By Annalee Armstrong

The biggest M&A deal of the quarter award goes to Gilead Sciences, which acquired CymaBay Therapeutics for $4.43 billion in February. The largest—and first—IPO was CG Oncology, which had a total transaction value of $380 million.

#FierceMadness: The Best Biotech Name Tournament—Elite 8 RESULTS

By Annalee Armstrong,Max Bayer,Gabrielle Masson,James Waldron

What's the best biotech name? It's time to vote in the Fierce Madness #biotechbracket.

Oruka spins out of Paragon with 3 assets, reverse merger and cash

By Max Bayer

Oruka Therapeutics is jumping onto the biotech stage with a bang, going public via a reverse merger and tacking on $275 million through a private placement.

Ascletis pulls FXR agonist from pipeline over phase 2 primary biliary cholangitis data

By James Waldron

China’s Ascletis has been developing the FXR agonist ASC42 in a raft of conditions ranging from primary biliary cholangitis to metabolic-associated steatohepatitis. But the company announced this morning that work is being halted on the drug after getting a glimpse of data from a phase 2 trial.

Prostate cancer ADC acquired from Fortis breaks FibroGen's clinical losing streak

By James Waldron

FibroGen had a run of bad luck in its phase 3 trials last year, but phase 1 data posted this week suggests that its earlier stage pipeline still has potential.

Diagonal launches with $128M and a platform slanted toward agonist antibodies

By Max Bayer

Diagonal Therapeutics has launched with $128 million to advance a platform focused on discovering antibody agonists. The cash infusion is enough to pay for at least a proof-of-concept trial testing a lead candidate to treat an inherited bleeding disorder.

Fierce Biotech Fundraising Tracker '24: Diagonal launches with $128M; T-cell therapy biotech Obsidian nets $160M

By Gabrielle Masson,Annalee Armstrong,Max Bayer

Welcome to Fierce Biotech's Fundraising Tracker, 2024's version.

J&J doubles down on health equity with 100+ partnerships and renewed local health initiatives

By Andrea Park

As April’s National Minority Health Month begins, Johnson & Johnson is picking up the pace in its “race to health equity.”

Asensus Surgical mulls acquisition offer from Karl Storz

By Conor Hale

The German medtech staked its claim for Asensus with a deal to buy out all its shares at 35 cents apiece, representing a 66.7% premium over its recent trading price of 23 cents—for a total in the ballpark of $95 million.

Thermo Fisher plots layoffs at CA plasmid manufacturing site as demand swings

By Fraiser Kansteiner

Demand fluctuations have spurred Thermo Fisher Scientific to downsize at the plasmid DNA manufacturing facility the company opened a little less than three years ago, putting jobs on the chopping block.

Solventum gets the ball rolling after 3M spinout

By Conor Hale

3M has finished carving out its healthcare business, formally establishing Solventum as an independent, St. Paul, Minnesota-based manufacturer of a medtech catalog that brought in $8.2 billion in 2023 sales.

Fierce podcasts

Don’t miss an episode

'The Top Line': The top money raisers in biotech

This week on "The Top Line," we explore our annual special report on the top money raisers in the biotech industry. Which company raised the most funding in 2023? What does the biotech financing landscape look like for this year? Fierce Biotech's Annalee Armstrong and Max Bayer answer those questions and many more in today's episode.

A closer look at European biotech investment in 2024

'Podnosis': A closer look at social prescribing and the impact of the arts on our health

Resources

Whitepaper

Oncology Market Outlook 2024

This paper assesses the current state of the oncology market, reviewing key expectations for 2024. It addresses CAR-T therapies, KRAS, radiopharmaceuticals, & targeted protein degradation.

Presented by Blue Matter, strategic consultants in the life sciences

Whitepaper

Guidance for Biotechs Choosing Next-Gen Contract GMP/CMC Labs

Choosing the right contract lab can help drug developers accelerate their timelines and generate cost-efficiencies. For insights into what to look for when selecting a GMP/CMC lab partner read this white paper which delves into a range of factors that can support your needs in both the short-term and in planning for the future.

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