Galera, Inovio shed staff

Today’s Big News

Aug 10, 2023

Novo Nordisk bets $1.1B on Canadian biotech buyout, adding an old approach to obesity pipeline


Prospective NASH market flips to over crowded as Big Pharma GLP-1s cast shadow over biotech breakthroughs


Galera sheds 70% of staff, shares tank in wake of radiotherapy complication drug's FDA rejection 


Inovio says no-go on phase 3 cervical lesion program after clinical setback, lays off 30% of staff


After EQRx partnership falls apart, Lynk sticks the landing in midstage eczema trial 


American Gene Technologies thinks spin spin spin is how you win, as HIV unit heads to SPAC 


Surrozen culls at least two research programs to funnel more money toward clinical work


'Elegant' study connects COVID with mitochondria gene disruptions, paving way for new treatments

The Top Line Podcast: don’t miss out on the newest episode where we discuss ASCO data, rising health tech stars, and more. Listen now.

 

Featured

Novo Nordisk bets $1.1B on Canadian biotech buyout, adding an old approach to obesity pipeline

Novo Nordisk is keeping its foot on the gas as it strives to carve out a strong position in the exploding obesity market, inking a deal worth up to $1.1 billion to buy a biotech that is dusting off an old approach to triggering weight loss.
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Top Stories

Prospective NASH market flips to overcrowded as Big Pharma GLP-1s cast shadow over biotech breakthroughs

And just like that, we have a crowded race to be the first approved NASH treatment—a market that could grow to $108.4 billion globally by 2030.

Galera sheds 70% of staff, shares tank in wake of radiotherapy complication drug's FDA rejection

Galera Therapeutics has slammed the emergency button in the wake of a complete response letter from the FDA for a radiotherapy complication drug, jettisoning 70% of its employees as the biotech’s stock sinks.

Inovio says no-go on phase 3 cervical lesion program after clinical setback, lays off 30% of staff

Inovio is making its third round of layoffs in 13 months. Facing a long path to approval, the biotech has stopped its cervical lesion program to focus on its most promising, closest-to-market programs, putting 58 people out of work in the process.

After EQRx partnership falls apart, Lynk sticks the landing in midstage eczema trial

Part of EQRx’s implosion earlier this year included cutting ties with China-based Lynk Pharmaceuticals. However, Lynk seems to have safely removed itself from EQRx’s wreckage, as its eczema asset improved area and severity in a phase 2 clinical trial.   

Surrozen culls at least two research programs to funnel more money toward clinical work

Some six months removed from laying off a quarter of its staff, Surrozen has once again found itself in cash preservation mode, culling two research programs to save money.

American Gene Technologies thinks spin spin spin is how you win, as HIV unit heads to SPAC

American Gene Technologies (AGT) may be a little bit dizzy with all this spinning. The biotech has inked a blank-check deal for subsidiary Addimmune, signing off the HIV-focused unit to special purpose acquisition company 10X Capital Venture Acquisition Corp. III. 

'Elegant' study connects COVID with mitochondria gene disruptions, paving way for new treatments

Scientists and clinicians studying COVID-19 have long suspected that the disease doesn’t just affect the lungs, but many other organ systems too. Now, researchers have identified a mechanism that could explain why and reveal new pathways to find treatments for long COVID.

J&J expands multiple myeloma arsenal with FDA approval for first-in-class Talvey

Johnson & Johnson is digging its multiple myeloma moat deeper. The FDA has signed off on the company's Talvey, a first-in-class bispecific antibody targeting GPRC5D.

Kardashian kare: Kim K. touts Prenuvo's full-body MRI scans

Kim Kardashian took to Instagram on Tuesday to boost the (already high) profile of scanning service provider Prenuvo.

BioNTech and Twitter warned by PR body for trying to duck COVID-19 vaccine debate

The self-regulatory body of the German communications industry has accused BioNTech of trying to pull out of a public debate about vaccine patents. BioNTech received the warning after it asked Twitter to “hide” its account ahead of an online campaign that targeted developers of COVID-19 vaccines in 2020.

Hospitals often charge commercial plans double or more than MA for same services, study finds

A new analysis of hospitals' posted prices finds major differences in charged prices by plan, even when the hospital, insurer and service are all equivalent.

Sunbird Bio snaps up Glympse Bio for protein-based diagnostics

Glympse Bio, developer of an injectable diagnostic platform, has been acquired by Sunbird Bio, which plans to point the companies’ resources toward a new blood test for Alzheimer’s disease.
 
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'Podnosis': A closer look at intersectionality and intersexuality

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