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The Weekly Pill

03/25/24-03/31/24

Mar 30, 2024
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Hi everyone,

Welcome to all our new subscribers who joined us this week! We're thrilled to have you as part of The Weekly Pill community. Your readership means the world to us. If you could kindly share this newsletter with your friends or coworkers, we would greatly appreciate your support! This resource holds value for a wide range of individuals, including venture capitalists, students, professionals at all levels within pharmaceutical companies, and anyone with a curious mindset eager to learn. Your assistance in this endeavor is greatly appreciated.

I sincerely hope you enjoy reading our newsletter and that it adds value to your understanding of the biotech world. Wishing each of you a blessed week ahead, and I look forward to connecting with you all again next week for another update.

If you really enjoy what we're doing here, consider becoming a paid subscriber to encourage us and gain access to the paid section, which includes insights on upcoming catalysts next week, the most shorted biotech stocks, earnings, market comments, notes and M&A comments. Now let’s dive into last week recap!

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Table of contents

  • How the market performed this week

  • Licenses / Partnerships

  • Clinical trials

  • Financing

  • RIF

  • Disease of the week

  • What I’ve read this week

Paid Content Section

  • Upcoming Catalysts Next Week

  • Reminders

  • Biotech Valuation

  • Most Shorted Biotech Stock as of This Week

  • Market

  • Notes from analysts

  • Venture Capital Market

  • M&A

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How the market performed this week

ETFs

Gene Therapy

RNA Therapy

Big Pharma

Gainers / Decliners this week in biotech

News of the week

Licenses/Partnerships

  • SLS

    • Company Type: Public

    • Current Phase: I/II

    • Drug: SLS009

    • Disease Group: Oncology

    • Indication: Diffuse Large B-Cell Lymphoma (DLBCL) - NHL

    • Lead Indication: N

    • Target: Cyclin Dependent Kinase 9 (CDK-9)

    • Source Link: PR Newswire

  • GILD

    • Company Type: Public

    • Current Phase: I

    • Drug: XTX301

    • Disease Group: Oncology

    • Indication: Solid Tumors

    • Lead Indication: N

    • Target: IL-12 (Interleukin-12) and IL-12 receptor, Immune System

    • Source Link: BusinessWire

  • NVS

    • Company Type: Public

    • Current Phase: Approved

    • Drug: Beovu

    • Disease Group: Ophthalmology

    • Indication: Diabetic Macular Edema (Ophthalmology)

    • Lead Indication: N

    • Target: VEGF (Vascular endothelial growth factor)

    • Source Link: GlobeNewswire

  • NVS

    • Company Type: Public

    • Current Phase: Approved

    • Drug: Beovu

    • Disease Group: Ophthalmology

    • Indication: Wet Age-Related Macular Degeneration (Wet AMD) (Ophthalmology)

    • Lead Indication: Y

    • Target: VEGF (Vascular endothelial growth factor)

    • Source Link: GlobeNewswire

  • AVTX

    • Company Type: Public

    • Current Phase: I

    • Drug: AVTX-009

    • Disease Group: Dermatology

    • Indication: Hidradenitis Suppurativa

    • Lead Indication: N

    • Target: IL-1 (Interleukin-1)

    • Source Link: GlobeNewswire

  • ONCO

    • Company Type: Public

    • Current Phase: Approved in Europe

    • Drug: Pepaxto

    • Disease Group: Oncology

    • Indication: Multiple Myeloma (MM)

    • Lead Indication: Y

    • Target: Angiogenesis, DNA

    • Source Link: GlobeNewswire

  • IPSEY

    • Company Type: Public

    • Current Phase: Approved

    • Drug: Onivyde

    • Disease Group: Oncology

    • Indication: Pancreatic Cancer

    • Lead Indication: Y

    • Target: Topoisomerase I (Topo-I)

    • Source Link: BusinessWire

  • 288330

    • Company Type: Public

    • Current Phase: Preclinical

    • Drug: BBT-877

    • Disease Group: Oncology

    • Indication: Cancer

    • Lead Indication: N

    • Target: Autotaxin

    • Source Link: PR Newswire

  • VNDA

    • Company Type: Public

    • Current Phase: Approved

    • Drug: Ponvory

    • Disease Group: Neurology

    • Indication: Multiple Sclerosis (MS)

    • Lead Indication: N

    • Target: Sphingosine 1-Phosphate Receptor (S1P-R)

    • Source Link: BusinessWire

  • NVO

    • Company Type: Public

    • Current Phase: Preclinical

    • Drug: FT-3171

    • Disease Group: Oncology

    • Indication: Solid Tumors

    • Lead Indication: Y

    • Target: Ubiquitin Specific Peptidase (USP1)

    • Source Link: GlobeNewswire

  • LLY

    • Company Type: Public

    • Current Phase: Approved

    • Drug: Jaypirca

    • Disease Group: Oncology

    • Indication: Mantle Cell Lymphoma - NHL

    • Lead Indication: Y

    • Target: Bruton's Tyrosine Kinase (BTK)

    • Source Link: Nippon Shinyaku

  • LLY

    • Company Type: Public

    • Current Phase: Approved

    • Drug: Jaypirca

    • Disease Group: Oncology

    • Indication: Chronic Lymphocytic Leukemia (CLL)/Small Cell Lymphocytic Lymphoma (SLL) - NHL

    • Lead Indication: N

    • Target: Bruton's Tyrosine Kinase (BTK)

    • Source Link: Nippon Shinyaku

  • QTTB

    • Company Type: Public

    • Current Phase: II

    • Drug: ADX-914

    • Disease Group: Allergy

    • Indication: Atopic Dermatitis (Eczema)

    • Lead Indication: Y

    • Target: IL-7 (Interleukin-7) and IL-7 receptor (IL-7R)

    • Source Link: PR Newswire

  • SABS

    • Company Type: Public

    • Current Phase: II

    • Drug: SAB-176

    • Disease Group: Infectious Disease

    • Indication: Seasonal Influenza Vaccines

    • Lead Indication: Y

    • Target: Influenza Virus

    • Source Link: GlobeNewswire

  • LABP

    • Company Type: Public

    • Current Phase: II

    • Drug: NX-13

    • Disease Group: Autoimmune/immunology

    • Indication: Ulcerative Colitis (UC)

    • Lead Indication: N

    • Target: Mitochondria

    • Source Link: GlobeNewswire

  • LABP

    • Company Type: Public

    • Current Phase: I

    • Drug: NX-13

    • Disease Group: Autoimmune/immunology

    • Indication: Crohn's Disease

    • Lead Indication: N

    • Target: Mitochondria

    • Source Link: GlobeNewswire

  • LABP

    • Company Type: Public

    • Current Phase: Preclinical

    • Drug: LABP-66

    • Disease Group: Neurology

    • Indication: Alzheimer's Disease (AD)

    • Lead Indication: N

    • Target: Mitochondria

    • Source Link: GlobeNewswire

  • LABP

    • Company Type: Public

    • Current Phase: Preclinical

    • Drug: LABP-66

    • Disease Group: Neurology

    • Indication: Multiple Sclerosis (MS)

    • Lead Indication: Y

    • Target: Mitochondria

    • Source Link: GlobeNewswire

  • LABP

    • Company Type: Public

    • Current Phase: Preclinical

    • Drug: LABP-73

    • Disease Group: Respiratory

    • Indication: Asthma

    • Lead Indication: N

    • Target: Mitochondria

    • Source Link: GlobeNewswire

  • LABP

    • Company Type: Public

    • Current Phase: Preclinical

    • Drug: LABP-69

    • Disease Group: Autoimmune/immunology

    • Indication: Rheumatoid Arthritis (RA)

    • Lead Indication: Y

    • Target: Plexin Domain Containing 2 (PLXDC2)

    • Source Link: GlobeNewswire

Clinical trials (LOA=likelihood of approval)

  • Ironwood Pharmaceuticals, Inc. (IRWD)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: II

    • Drug: Apraglutide

    • Disease Group: Autoimmune/immunology

    • Indication: Graft vs. Host Disease (GVHD) - Treatment

    • Lead Indication: N

    • Target: GLP-2 Receptor

    • LOA: 20%

    • Source Link: BusinessWire

  • Lipocine Inc. (LPCN)

    • Event Type: Trial Data - Updated Results

    • Current Phase: II

    • Drug: LPCN 1148

    • Disease Group: Gastroenterology (Non Inflammatory Bowel Disease)

    • Indication: Liver Failure / Cirrhosis

    • Lead Indication: Y

    • Target: Androgen receptors

    • LOA: 21%

    • Source Link: PR Newswire

  • Aligos Therapeutics, Inc. (ALGS)

    • Event Type: Trial Data - Updated Results

    • Current Phase: II

    • Drug: ALG-055009

    • Disease Group: Endocrine

    • Indication: Non-Alcoholic Steatohepatitis (NASH)

    • Lead Indication: Y

    • Target: Thyroid hormone receptors (TRs)

    • LOA: 15%

    • Source Link: [Not specified]

  • Bristol Myers Squibb Company (BMY)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: Approved

    • Drug: Krazati

    • Disease Group: Oncology

    • Indication: Non-Small Cell Lung Cancer (NSCLC)

    • Lead Indication: N

    • Target: KRas

    • LOA: 100%

    • Source Link: BusinessWire

  • Bristol Myers Squibb Company (BMY)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: III

    • Drug: Zeposia

    • Disease Group: Autoimmune/immunology

    • Indication: Crohn's Disease

    • Lead Indication: N

    • Target: Sphingosine 1-Phosphate Receptor (S1P-R)

    • LOA: 61%

    • Source Link: BusinessWire

  • TFF Pharmaceuticals, Inc. (TFFP)

    • Event Type: Trial Data - Updated Results

    • Current Phase: Development Outside U.S.

    • Drug: TFF TAC

    • Disease Group: Autoimmune/immunology

    • Indication: Lung Transplant Rejection

    • Lead Indication: N

    • Target: Calcineurin phosphatase

    • LOA: Not specified

    • Source Link: GlobeNewswire

  • TFF Pharmaceuticals, Inc. (TFFP)

    • Event Type: Trial Data - Updated Results

    • Current Phase: II

    • Drug: TFF VORI

    • Disease Group: Infectious Disease

    • Indication: Aspergillosis

    • Lead Indication: N

    • Target: Cytochrome p450

    • LOA: 23%

    • Source Link: GlobeNewswire

  • Reviva Pharmaceuticals Holdings, Inc. (RVPH)

    • Event Type: Trial Data - Updated Results

    • Current Phase: III

    • Drug: Brilaroxazine

    • Disease Group: Psychiatry

    • Indication: Schizophrenia

    • Lead Indication: Y

    • Target: Dopamine 2 (D2) Receptor, Dopamine 3 (D3) Receptor, Dopamine 4 (D4) Receptor, Serotonin 5-HT1A receptor

    • LOA: 58%

    • Source Link: ASCPT2024

  • Moderna, Inc. (MRNA)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: I

    • Drug: mRNA-1189

    • Disease Group: Infectious Disease

    • Indication: Epstein Barr Virus (EBV)

    • Lead Indication: Y

    • Target: Epstein Barr Virus (EBV), Immune System

    • LOA: 13%

    • Source Link: Moderna

  • Moderna, Inc. (MRNA)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: I/II

    • Drug: mRNA-1468

    • Disease Group: Infectious Disease

    • Indication: Chickenpox and Shingles - Vaccines and Treatments

    • Lead Indication: Y

    • Target: Varicella Zoster Virus (VSV)

    • LOA: 24%

    • Source Link: Moderna

  • Moderna, Inc. (MRNA)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: I

    • Drug: mRNA-1403

    • Disease Group: Infectious Disease

    • Indication: Norovirus

    • Lead Indication: N

    • Target: Norovirus

    • LOA: 13%

    • Source Link: Moderna

  • Moderna, Inc. (MRNA)

    • Event Type: Trial Data - Updated Results

    • Current Phase: III

    • Drug: mRNA-1283

    • Disease Group: Infectious Disease

    • Indication: COVID-19 Prevention

    • Lead Indication: Y

    • Target: SARS-CoV-2

    • LOA: 59%

    • Source Link: Moderna

  • Moderna, Inc. (MRNA)

    • Event Type: Trial Data - Updated Results

    • Current Phase: BLA

    • Drug: mRNA-1345

    • Disease Group: Infectious Disease

    • Indication: Respiratory Syncytial Virus (RSV) Prevention

    • Lead Indication: Y

    • Target: Immune System, RSV, Respiratory Syncytial Virus

    • LOA: 99%

    • Source Link: Moderna

  • Moderna, Inc. (MRNA)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: BLA

    • Drug: mRNA-1345

    • Disease Group: Infectious Disease

    • Indication: Respiratory Syncytial Virus (RSV) Prevention

    • Lead Indication: Y

    • Target: Immune System, RSV, Respiratory Syncytial Virus

    • LOA: 99%

    • Source Link: Moderna

  • Sagimet Biosciences (SGMT)

    • Event Type: Trial Announcement - Trial Completed

    • Current Phase: II

    • Drug: Denifanstat

    • Disease Group: Endocrine

    • Indication: Non-Alcoholic Steatohepatitis (NASH)

    • Lead Indication: Y

    • Target: Fatty acids

    • LOA: 26%

    • Source Link: GlobeNewswire

  • Akebia Therapeutics, Inc. (AKBA)

    • Event Type: Regulatory - Approval (U.S.)

    • Current Phase: Approved

    • Drug: Vafseo

    • Disease Group: Hematology

    • Indication: Anemia Due to Chronic Kidney Disease, Dialysis-Dependent

    • Lead Indication: N

    • Target: Hypoxia-Inducible Factor-Prolyl Hydroxylase (HIF-PH)

    • LOA: 100%

    • Source Link: PR Newswire

  • Lixte Biotechnology Holdings, Inc. (LIXT)

    • Event Type: Trial Data - Preclinical Results

    • Current Phase: Preclinical

    • Drug: LB-100

    • Disease Group: Oncology

    • Indication: Colorectal Cancer (CRC)

    • Lead Indication: N

    • Target: PP2A (Serine/threonine-specific protein phosphatase 2A)

    • LOA: Not specified

    • Source Link: GlobeNewswire

  • Heidelberg Pharma AG (WL6)

    • Event Type: Regulatory - Orphan Drug Designation (U.S.)

    • Current Phase: I/II

    • Drug: HDP-101

    • Disease Group: Oncology

    • Indication: Multiple Myeloma (MM)

    • Lead Indication: Y

    • Target: B-cell maturation antigen (BCMA), RNA polymerase

    • LOA: 11%

    • Source Link: Heidelberg Pharma AG

  • Adaptimmune Therapeutics plc (ADAP)

    • Event Type: Trial Data - Published Results

    • Current Phase: II

    • Drug: Afami-cel

    • Disease Group: Oncology

    • Indication: Liposarcoma

    • Lead Indication: N

    • Target: Cluster of Differentiation 107a (CD107a) / LAMP-1, Melanoma antigen-encoding gene (MAGE), Stem Cells/Other Cell Therapies, T-Cell Receptor (TCR)

    • LOA: 13%

    • Source Link: Newsfile Corp

  • AbbVie Inc. (ABBV)

    • Event Type: Trial Data - Published Results

    • Current Phase: II/III

    • Drug: ABBV-RGX-314

    • Disease Group: Ophthalmology

    • Indication: Wet Age-Related Macular Degeneration (Wet AMD) (Ophthalmology)

    • Lead Indication: N

    • Target: VEGF (Vascular endothelial growth factor)

    • LOA: 55%

    • Source Link: PR Newswire

  • Moderna, Inc. (MRNA)

    • Event Type: Trial Data - Updated Results

    • Current Phase: III

    • Drug: mRNA-1010

    • Disease Group: Infectious Disease

    • Indication: Seasonal Influenza Vaccines

    • Lead Indication: Y

    • Target: Immune System, Influenza Virus

    • LOA: 61%

    • Source Link: Moderna

  • Moderna, Inc. (MRNA)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: III

    • Drug: mRNA-1283

    • Disease Group: Infectious Disease

    • Indication: COVID-19 Prevention

    • Lead Indication: Y

    • Target: SARS-CoV-2

    • LOA: 59%

    • Source Link: AccessWire

  • SELLAS Life Sciences Group, Inc. (SLS)

    • Event Type: Trial Data - Updated Results

    • Current Phase: I/II

    • Drug: SLS009

    • Disease Group: Oncology

    • Indication: Acute Myelogenous Leukemia (AML)

    • Lead Indication: N

    • Target: Cyclin Dependent Kinase 9 (CDK-9)

    • LOA: 11%

    • Source Link: GlobeNewswire

  • Praxis Precision Medicines, Inc. (PRAX)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: II

    • Drug: PRAX-628

    • Disease Group: Neurology

    • Indication: Seizure Disorders (Epilepsy)

    • Lead Indication: N

    • Target: Sodium Channels

    • LOA: 13%

    • Source Link: GlobeNewswire

  • Zevra Therapeutics, Inc. (ZVRA)

    • Event Type: Trial Data - Updated Results

    • Current Phase: II

    • Drug: KP1077

    • Disease Group: Neurology

    • Indication: Narcolepsy

    • Lead Indication: Y

    • Target: Dopamine Reuptake, Norepinephrine (Noradrenaline) Reuptake

    • LOA: 12%

    • Source Link: GlobeNewswire

  • Viking Therapeutics, Inc. (VKTX)

    • Event Type: Trial Data - Updated Results

    • Current Phase: II

    • Drug: VK2735

    • Disease Group: Metabolic

    • Indication: Obesity

    • Lead Indication: N

    • Target: GIP Receptor (GIPR)/Glucose-Dependent Insulinotropic Polypeptide Receptor, GLP-1 Receptor

    • LOA: 28%

    • Source Link: PR Newswire

  • Merck & Co., Inc. (MRK)

    • Event Type: Regulatory - Approval (U.S.)

    • Current Phase: Approved

    • Drug: WINREVAIR

    • Disease Group: Cardiovascular

    • Indication: Pulmonary Arterial Hypertension (PAH) and Pulmonary Hypertension (PH)

    • Lead Indication: Y

    • Target: Activin A, Activin Receptor Type-2A (ACVR2A) (ACTRIIA), Transforming Growth Factor-beta (TGF-beta) and Superfamily

    • LOA: 100%

    • Source Link: BusinessWire

  • Defence Therapeutics Inc. (DTC)

    • Event Type: Trial Data - Preclinical Results

    • Current Phase: Preclinical

    • Drug: ARM-002TM

    • Disease Group: Oncology

    • Indication: Melanoma

    • Lead Indication: N

    • Target: Unknown

    • LOA: Not specified

    • Source Link: Defence Therapeutics

  • MEI Pharma, Inc. (MEIP)

    • Event Type: Trial Data - Updated Results

    • Current Phase: I

    • Drug: Voruciclib

    • Disease Group: Oncology

    • Indication: Acute Myelogenous Leukemia (AML)

    • Lead Indication: N

    • Target: Cyclin Dependent Kinase 4 (CDK-4), Cyclin Dependent Kinase 9 (CDK-9)

    • LOA: 5%

    • Source Link: BusinessWire

  • Axsome Therapeutics, Inc. (AXSM)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: III

    • Drug: AXS-12

    • Disease Group: Neurology

    • Indication: Narcolepsy

    • Lead Indication: Y

    • Target: Norepinephrine (Noradrenaline) Reuptake

    • LOA: 57%

    • Source Link: GlobeNewswire

  • Astria Therapeutics, Inc. (ATXS)

    • Event Type: Trial Data - Top-Line Results

    • Current Phase: II

    • Drug: STAR-0215

    • Disease Group: Autoimmune/immunology

    • Indication: Hereditary Angioedema (HAE)

    • Lead Indication: Y

    • Target: Kinin-Kallikrein System

    • LOA: 19%

    • Source Link: BusinessWire

  • Matinas BioPharma Holdings, Inc. (MTNB)

    • Event Type: Trial Data - Preclinical Results

    • Current Phase: Preclinical

    • Drug: LNC Docetaxel

    • Disease Group: Oncology

    • Indication: Melanoma

    • Lead Indication: N

    • Target: Unknown

    • LOA: Not specified

    • Source Link: GlobeNewswire

  • Stoke Therapeutics, Inc. (STOK)

    • Event Type: Trial Data - Updated Results

    • Current Phase: I/II

    • Drug: STK-001

    • Disease Group: Neurology

    • Indication: Dravet Syndrome (Epilepsy)

    • Lead Indication: Y

    • Target: Sodium Channel Protein SCN1A

    • LOA: 15%

    • Source Link: BusinessWire

  • NKGen Biotech, Inc. (NKGNW)

    • Event Type: Trial Data - Updated Results

    • Current Phase: I/II

    • Drug: SNK01

    • Disease Group: Neurology

    • Indication: Alzheimer's Disease (AD)

    • Lead Indication: Y

    • Target: Immune System, Natural Killer Cells (NK Cells)

    • LOA: 12%

    • Source Link: GlobeNewswire

  • Moleculin Biotech, Inc. (MBRX)

    • Event Type: Trial Data - Updated Results

    • Current Phase: I/II

    • Drug: Annamycin

    • Disease Group: Oncology

    • Indication: Acute Myelogenous Leukemia (AML)

    • Lead Indication: Y

    • Target: Topoisomerase II (DNA gyrase)

    • LOA: 11%

    • Source Link: PR Newswire

  • Marvel Biosciences Corp. (MRVL)

    • Event Type: Trial Data - Preclinical Results

    • Current Phase: Preclinical

    • Drug: MB-204

    • Disease Group: Neurology

    • Indication: Alzheimer's Disease (AD)

    • Lead Indication: Y

    • Target: Adenosine A2a Receptor

    • LOA: Not specified

    • Source Link: Newsfile Corp

Financing events

  1. Aeovian Pharmaceuticals:

    • Description: Develops innovative therapeutics for rare and age-related diseases.

    • Vertical: Life Sciences

    • Deal Date: March 28, 2024

    • Deal Type: Later Stage VC

    • Investors: Hevolution Foundation (lead), Evotec, b2venture, Apollo Health Ventures, venBio, Sofinnova Investments

    • Deal Size: $50 million

  2. Andson Biotech:

    • Description: Develops novel Process Analytical Technology (PAT) for cell-based bioprocesses.

    • Verticals: HealthTech, Life Sciences

    • Deal Date: March 26, 2024

    • Deal Type: Early Stage VC

    • Investors: Undisclosed

    • Deal Size: $3.6 million

  3. AnHeart Therapeutics:

    • Description: Operates a biopharmaceutical company focusing on improving cancer patients' lives.

    • Verticals: Life Sciences, Oncology

    • Deal Date: March 25, 2024

    • Deal Type: Merger/Acquisition

    • Acquirer: Nuvation Bio (NYS: NUVB)

  4. Avalo Therapeutics (NAS: AVTX):

    • Description: Clinical-stage precision medicine company developing targeted therapeutics.

    • Verticals: Life Sciences, Oncology

    • Deal Date: March 27, 2024

    • Deal Type: PIPE

    • Investors: Petrichor Partners, OrbiMed, Deep Track Capital, Commodore Capital, RA Capital Management, TCG Crossover Management, BVF Partners

    • Deal Size: $185 million

  5. Avenzo:

    • Description: Operates a clinical-stage oncology platform focusing on novel cancer treatments.

    • Verticals: HealthTech, Life Sciences, Oncology

    • Deal Date: March 26 & 27, 2024

    • Deal Type: Series A & Series A1 VC

    • Investors: Deep Track Capital, Sands Capital, Sofinnova Investments, and others

    • Deal Size: $223.35 million (Series A), $150 million (Series A1)

  6. BioXcel Therapeutics (NAS: BTAI):

    • Description: Clinical-stage biopharmaceutical company using AI to identify new medicines.

    • Verticals: Artificial Intelligence & Machine Learning, Life Sciences, Oncology

    • Deal Date: March 25, 2024

    • Deal Type: PIPE

    • Investors: Undisclosed

    • Deal Size: $8.86 million

  7. Boundless Bio (NAS: BOLD):

    • Description: Clinical-stage oncology company focusing on extrachromosomal DNA.

    • Verticals: Life Sciences, Oncology

    • Deal Date: March 28, 2024

    • Deal Type: IPO

    • Deal Size: $100 million

  8. Century Health:

    • Description: Develops healthcare technology applying AI to clinical data.

    • Verticals: Artificial Intelligence & Machine Learning, HealthTech, Life Sciences

    • Deal Date: March 27, 2024

    • Deal Type: Seed Round

    • Investors: 2048 Ventures (lead), Everywhere, Alumni Ventures, LifeX Ventures, Travis May, Christine Lemke

    • Deal Size: $2 million

  9. CervoMed (NAS: CRVO):

    • Description: Develops drugs for central nervous system diseases, including Alzheimer's.

    • Verticals: Life Sciences

    • Deal Date: March 28, 2024

    • Deal Type: PIPE

    • Investors: Soleus Capital, RA Capital Management, Armistice Capital, Special Situations Funds

    • Deal Size: $149.4 million

  10. CND Life Sciences:

    • Description: Develops a medical diagnostic platform for neurodegenerative diseases.

    • Verticals: Digital Health, HealthTech, Life Sciences

    • Deal Date: March 27, 2024

    • Deal Type: Later Stage VC

    • Investors: Undisclosed

    • Deal Size: $3.46 million

Reduction in force (RIF)

March 28 - Omega Therapeutics: The mRNA-focused company is laying off 35% of its workforce as part of a "cost reduction and strategic prioritization initiative." Omega will also focus resources on certain preclinical programs including OTX-2101 for non-small cell lung cancer, its HNF4A program in liver regeneration, and an epigenomic controller for obesity in collaboration with Novo Nordisk. Release

March 28 - Xilio: The biotech may have secured $43.5 million from Gilead for the license to a tumor-activated IL-12, but Xilio also let go of 15 employees on the same day. The decision to reduce its workforce by 21% was a response to the biotech's narrowing focus, having handed over one IL-12 drug to Gilead and halting monotherapy development of another. Story

March 27 - AlmataBio: Avalo Therapeutics agreed to hand over $22 million in stock and cash to acquire AlmataBio, but Avalo only has eyes for Almata's anti-IL-1β monoclonal antibody AVTX-009. As a result, none of Almata's employees will be keeping their job under the new owner. Story

March 27 - Bayer: The pharma will lay off 90 employees working at the company's U.S. headquarters in Whippany, New Jersey. The cuts, which are effective on June 19, were revealed in a New Jersey WARN notice and confirmed by Bayer over email. Story

March 26 - Bristol Myers Squibb: Two months after closing its multibillion-dollar acquisition of Mirati Therapeutics, BMS is bidding adieu to 252 workers at the biotech's headquarters in California. Story

Disease of the week

Nodding Syndrome is a rare neurological disorder primarily affecting children in specific regions of Sub-Saharan Africa, particularly South Sudan, Uganda, and Tanzania. It's characterized by repetitive nodding movements, typically accompanied by cognitive impairment, stunted growth, and seizures. Here are some key points about Nodding Syndrome:

  1. Epidemiology: Nodding Syndrome has been reported primarily in regions affected by conflict, displacement, and poverty. It's most prevalent in rural areas with limited access to healthcare and sanitation facilities.

  2. Symptoms: The hallmark symptom of Nodding Syndrome is repetitive nodding of the head, often triggered by cold weather, food consumption, or other stimuli. Other symptoms may include seizures (typically generalized tonic-clonic seizures), cognitive impairment, stunted growth, malnutrition, and behavioral problems.

  3. Onset and Progression: Nodding Syndrome typically begins between the ages of 5 and 15 years old. The nodding episodes tend to worsen over time, and the condition can lead to severe disability, including the inability to walk or talk.

  4. Potential Causes: The exact cause of Nodding Syndrome is not fully understood, but it's believed to be multifactorial, involving genetic, environmental, and infectious factors. There is some evidence suggesting a possible association with parasitic infections, particularly Onchocerca volvulus, the parasite responsible for river blindness, although the link is not definitive.

  5. Diagnosis: Diagnosis of Nodding Syndrome is primarily based on clinical presentation, including the characteristic nodding episodes and other associated symptoms. Medical history, physical examination, and neurological assessments are typically conducted to rule out other conditions with similar symptoms.

  6. Treatment: Currently, there is no specific cure for Nodding Syndrome. Treatment mainly focuses on managing symptoms and improving the quality of life for affected individuals. This may involve antiepileptic medications to control seizures, nutritional support to address malnutrition, and interventions to address cognitive and developmental challenges.

  7. Prevention and Research: Efforts to prevent Nodding Syndrome involve addressing underlying risk factors such as poverty, malnutrition, and infectious diseases. Research into the underlying causes and potential treatments for the condition is ongoing, but more resources and attention are needed to better understand and combat this devastating disorder.

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