The Latest
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Deep Dive // Emerging biotech
Biotech startups are built on venture capital. Track funding rounds here.
Two biotechs — radiopharmaceuticals specialist Full-Life Technologies and immune drugmaker Accro Bioscience — raised $160 million combined in a pair of equity financings announced Monday.
Updated May 19, 2026 -
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Lilly snaps up Engage to advance non-viral genetic medicines
The acquisition is Lilly’s latest push into genetic medicine, giving it a technology designed to overcome some of the field’s longstanding limitations.
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News roundup
Immunovant’s potential autoimmune ‘blockbuster’; Wave’s RNA editing update
Immunovant shares climbed on results an analyst deemed “compelling” in tough-to-treat arthritis. Elsewhere, Wave’s pioneering rare disease program advanced and Takeda lost an antitrust suit.
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A migraine drugmaker heads to the public markets through reverse merger
Mentari Therapeutics, a spinout from the prolific hub-and-spoke biotech Paragon, is developing two medications it hopes can treat migraines that aren’t well controlled by existing drugs.
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Relay drug shows early promise against rare blood vessel diseases
While early, the findings suggest the therapy could be superior to Novartis’ Vijoice at treating “vascular anomalies,” a cluster of chronic conditions with few available treatments.
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Regeneron immunotherapy combo comes up short in melanoma trial
A two-drug regimen of Regeneron’s fianlimab and Libtayo didn’t significantly outperform Keytruda in a late-stage study, a finding that surprised Wall Street analysts and wiped out billions in market value.
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FDA approves AstraZeneca’s new kind of hypertension drug
Baxfendy inhibits a blood-pressure-raising enzyme and, according to AstraZeneca executives, is poised to be a “big product” that should ultimately generate $5 billion or more in annual sales.
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News roundup
Høeg fired in latest FDA shakeup; 20 people die after taking Amgen drug
The agency has once again shuffled the leadership for two top drug review offices. Elsewhere, Parabilis partnered with Regeneron and an obesity pill is headed toward an approval in China.
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Deep Dive // IPO window
Biotech IPOs are the industry’s lifeblood. Track how they’re performing.
Parabilis Medicines, a well-funded startup chasing “undruggable” cancer drug targets, has become the latest biotech to publicly reveal IPO plans.
Updated May 20, 2026 -
BioMarin drug acquired in buyout misses goal in rare disease study
Tested in a condition known as ENPP1 deficiency, the treatment failed a trial goal that’s important to regulators, spurring doubts about its approval prospects.
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China competition
Merck ADC, licensed from China, hits mark in first big global trial
The endometrial cancer trial is the first of 17 late-stage studies Merck is running for a therapy that’s important to its ambitions of hitting $70 billion in annual sales next decade.
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Deep Dive // Pain drugs
A year after Vertex’s big launch, pain drug research faces a pivotal moment
Journavx revived an area of development long considered a graveyard. Can any other pain drugs keep investor excitement going?
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India’s pharma industry is going global. But can it catch up to China?
A record Sun Pharma acquisition signals global ambitions. But infrastructure, capital and policy gaps could stand in the way of India becoming an R&D powerhouse.
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FDA hold puts Aardvark Prader-Willi drug in limbo
The company plans to unblind the late-stage study that was halted due to safety concerns, which could lead to an overhaul of its entire development program.
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News roundup
Biotech leaders campaign for Pazdur; Takeda to lay off 4,500 workers
Hundreds of executives and investors are pushing for Rick Pazdur to be the next FDA commissioner. Elsewhere, Takeda detailed its latest restructuring and Alumis is discarding a once-highly touted immune drug.
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Trump administration
Supreme Court preserves access to abortion pill by mail
The ruling maintains access to the drug while litigation continues. Mifepristone can still be prescribed at pharmacies or by mail without requiring in-person visits.
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With new data, Regenxbio to seek FDA approval of Duchenne gene therapy
Though two serious side effects muddied the results, CEO Curran Simpson expressed optimism about a clearance and claimed FDA leadership will have a “mandate on rare disease flexibility.”
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Biogen pushing tau drug forward despite Alzheimer’s study failure
One of the company’s more closely watched research assets, BIIB080 is now heading to late-stage testing based on “the strength of the biomarker and efficacy data” seen in a Phase 2 trial.
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Create Medicines raises $122M to bolster in vivo CAR-T therapies
The fresh funds will support the biotech's pipeline of RNA-based CAR-T cell therapies for cancer and autoimmune conditions.
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Trump administration
FDA’s leadership void leaves biotech with renewed ‘uncertainty’
Marty Makary's resignation leaves the agency with temporary directors in three top positions, and a number of newly instituted policies with an unclear future.
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Trump administration
FDA chief Marty Makary resigns from agency, ending tumultuous tenure
Makary’s exit ends a turbulent run marred by leadership upheaval, mass layoffs, political pressure and public spats with drugmakers.
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China competition
Drugs from China are reshaping biotech. Track the licensing deals here.
Bristol Myers’ alliance with Hengrui ranks as the second-largest licensing pact of its kind since the start of 2025, trailing only AstraZeneca’s $18.5 billion tie-up with CSPC in January, according to BioPharma Dive data.
Updated May 19, 2026 -
China competition
Bristol Myers, Hengrui join forces in drugmaking alliance worth up to $15.2 billion
The wide-ranging pact involves as many as 13 drugs and marks the latest example of the growing relationship between Chinese pharmaceutical firms and their U.S. and Europe-based counterparts.
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Obesity drugs
Lilly data point to ‘maintenance’ strategies for GLP-1 weight loss
A pair of trial results published in medical journals suggest switching from high-dose injectables to lower doses or pills could help people with obesity keep their weight down over the long term.
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News roundup
Assertio accepts new buyout bid; AI biotech Isomorphic banks $2B
Assertio’s latest offer represents a roughly 31% premium over an initial acquisition proposal. Elsewhere, Kyverna is readying a first-of-its-kind approval application and AC Immune is swapping CEOs.