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Deep Dive // Emerging biotech
Biotech startups are built on venture capital. Track funding rounds here.
Six biotechs raised over $700 million in combined venture funding this week, though two of those companies — Solstice Oncology and Encoded Therapeutics — accounted for the bulk of the total.
Updated 19 hours ago -
Sponsored by Dell Technologies & NVIDIA
Six AI agents, one deskside system: A new model for clinical decision support
Multi-agent AI reasoning at the point of care, with complete data sovereignty built in.
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News roundup
Karyopharm pushes off debt payment; Amgen eyes broader Imdelltra use
Karyopharm bought an extra month to negotiate with creditors or pursue a deal. Elsewhere, BridgeBio Pharma’s oncology spinout shook up its development plans and a brain-focused gene therapy startup banked $275 million.
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FDA places partial hold on Biohaven’s epilepsy drug
Announced mere weeks after Biohaven sold off rights to the therapy, opakalim, the halt affects a study some analysts believe is necessary to support a potential approval.
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Trump administration
FDA gains ‘continuity’ as Mikhail, Davis named permanent CBER, CDER leaders
After almost two years of turnover in the FDA’s top ranks, the new appointments should help ease concerns about more turmoil ahead, one analyst said.
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Novartis RNA drug falls short in rare muscle disease study
The failure of “del-desiran,” which Novartis got through a $12 billion acquisition, could raise questions about the company’s business development acumen, according to one analyst.
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Tyra disappoints investors with bladder cancer data
Remission rates observed in a Phase 2 trial fell short of Wall Street's expectations, though some analysts believe the company should see better results in late-stage testing.
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Startup launches
Kura spins diabetes work into a Lilly-backed biotech startup
Caspian Therapeutics aims to develop menin inhibitors, which have proven effective against leukemia, for diabetes and other cardiometabolic conditions.
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Novartis, Ionis drug failure spurs questions about an emerging class of heart medicines
Pelacarsen didn’t protect heart health despite lowering levels of a protein particle, “Lp(a),” in a large clinical trial — a surprise result with important implications for cardiovascular drug research.
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Immune reset
Autoimmune CAR-T faces tough questions after Novartis, Bristol Myers study halts
Wall Street analysts believe that a more cautious approach to manufacturing, study enrollment and side effect management could help developers avoid future safety hazards.
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News roundup
Roivant surges on ‘exceptional’ results; Bristol Myers touts first-of-its-kind CAR-T therapy
One analyst views Roivant’s pulmonary hypertension drug as a future $10 billion-plus seller. Elsewhere, AstraZeneca overcame a negative advisory committee vote and Pharvaris claimed success in a key study.
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Obesity drugs
Moonwalk reloads with $70M and new RNAi prospects for obesity
The California biotech plans to bring its first drug, enabled by licensing technology from a Chinese drugmaker, into clinical testing for obesity by the end of 2027.
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This week in charts: China deals, stock flatlines and Lilly’s M&A spree
Deals with Chinese drugmakers are continuing at a steady pace, while two mid-cap biotechs' stock prices took a tumble this week. Meanwhile, Lilly has outpaced other pharmas in dealmaking this year.
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BrainChild hauls in $116M to make cell therapies for childhood brain cancers
Spun out of research at Seattle Children’s Hospital, the startup has brought a CAR-T treatment for a rare and deadly pediatric cancer into mid-stage testing.
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News roundup
Ionis’ rare neurology drug approved; Pfizer inks an ADC deal
Zanvastro is now the first approved medicine for Alexander disease. Elsewhere, an immune system specialist posted positive results and a cell therapy developer turned to layoffs.
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Trailing rivals, AbbVie scores win with dual-acting myeloma drug
The drugmaker is leaning on a better side effect profile compared to drugs from J&J, Pfizer and Regeneron as it pushes etentamig toward FDA submission.
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The hidden scale-out problem behind CAR-T’s growth
CAR-T’s commercial challenge is making thousands of patient-specific manufacturing runs behave like one reliable system. "In vivo" production techniques could be one solution.
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Ultragenyx to weigh ‘significant’ cost cuts as Angelman drug fails key study
The failure of what was once considered a potential blockbuster therapy represents a major setback in a tough-to-treat disease and is forcing Ultragenyx to closely examine its expenses.
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Immune reset
Novartis, Bristol Myers pause autoimmune CAR-T trials due to safety concerns
The deaths of three study participants led Novartis to halt development of rap-cel in multiple indications, while “transient” side effects pushed Bristol Myers to voluntarily pause its zola-cel program.
Updated Sept. 1, 2026 -
Akeso, Summit cancer drug confirms lung cancer survival benefit
A new data cut of a trial pitting ivonescimab, a bispecific antibody, against Merck’s Keytruda showed the new drug helped people live longer.
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Emerging biotech
An AI drug specialist zeroes in on rare forms of obesity
Superluminal Medicines banked $60 million in funding to support development of a drug designed to work similarly to — but potentially be more selectively than — Rhythm Pharmaceuticals’ marketed medicine Imcivree.
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ESC ‘26: Cytokinetics’ sell-off, Arrowhead’s edge and a heart drug autopsy
At a big meeting for cardiovascular medicines, Cytokinetics and Arrowhead aimed to separate their drugs from competitors while a failed study pressured Alnylam.
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China competition
GSK wagers up to $1.3B on a different kind of cancer drug
With its latest foray into China, GSK acquired rights from Hutchmed to an “antibody-targeted therapy conjugate” impacting two well-known cancer drivers, EGFR and KRAS.
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UniQure, after setbacks, seeks FDA approval of Huntington’s gene therapy
The company is now hoping for an affirmative answer on its application after an unusually turbulent year dealing with U.S. regulators.
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Novartis says MS pill succeeds in two large studies
Notably, Novartis revealed that remibrutinib wasn’t associated with the kind of liver-related side effects other BTK inhibitors like it have encountered.
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China competition
Drugs from China are reshaping biotech. Track the licensing deals here.
Including a new deal with Roche last week, Simcere Pharmaceutical has now inked five cross-border licensing pacts since the start of 2025 that are collectively worth up to $5.66 billion.
Updated Sept. 2, 2026