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    Deep Dive // IPO window

    Biotech IPOs are the industry’s lifeblood. Track how they’re performing.

    Should it successfully price, Parabilis would be the fifth biotech this year to go public after raising at least $700 million in private funding, a reflection of the more mature startups now pursuing IPOs.

    Updated 4 hours ago
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    Bristol Myers deepens AI investment with Anthropic deal

    The collaboration marks an “evolution” in the pharmaceutical giant’s use of AI and adds to a series of broad deals its peers have used to adopt the technology across many day-to-day activities.

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    IPO window

    After raising $800M, Parabilis seeks an IPO to pursue ‘undruggable’ targets

    Parabilis is teeing up the latest high-profile stock issuance in a year when biotech IPOs are averaging more than $286 million in total proceeds.

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    BioMarin notches win in study that could expand use of top-selling medicine

    The success came two days after a Phase 3 setback for another experimental drug and helps improve the position of Voxzogo amid increased competition.

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    Startup launches

    Oorja, run by Acceleron veterans, launches to make new fibrosis drugs

    The biotechnology startup emerged from stealth with a peptide drug it claims to have the potential to reverse lung scarring in people with idiopathic pulmonary fibrosis.

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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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    Adeline Kon/BioPharma Dive/BioPharma Dive
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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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    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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    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.”

  • A sign with Biogen's logo sits outside the company's Cambridge, Massachusetts, headquarters on Sept. 5, 2024.
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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.

    FDA
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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.  

    FDA