The UK-based company raised $25 mn in Series B funding to further develop its innovative cancer immunotherapy. Led by BMS, with support from existing investors like Canaan and Brandon Capital, the funds will be used to progress Pathios' novel therapy targeting GPR65, a receptor linked to immunological diseases, into clinical trials later this year, where it will be assessed for treating advanced solid cancers. 

Regeneron Ventures has launched as a new $500 mn venture capital fund aimed at investing in early to late-stage life sciences companies. This initiative, which is part of Regeneron’s strategy to support innovative biotechnology and medical technology advancements, will target companies that are developing therapeutics, with a focus including genetic medicines, cancer treatments, and infectious diseases.

Novo Holdings has strategically refilled its application following informal consultations with the U.S. Federal Trade Commission (FTC). The move resets a 30-day review period, with an option for a further 30-day extension, allowing the FTC to thoroughly analyse the implications of the proposed merger. 

In an all-cash payment, the deal will integrate Shockwave’s intravascular lithotripsy (IVL) technology with J&J's existing platforms like Abiomed's Impella as the company looks to build on its leadership in high-growth cardiovascular segments.

Genmab has acquired ProfoundBio for $1.8 bn as it marks its strategic entry into the antibody-drug conjugate (ADC) market. The purchase includes a pioneering ADC platform and three clinical-stage assets aimed at treating ovarian cancer and other solid tumours, with the ADC lead product demonstrating significant potential in advancing cancer ovarian cancer treatment.

Two months after acquiring Mirati Therapeutics for $5.8 billion, Bristol Myers Squibb (BMS) is laying off over 250 employees at Mirati's San Diego headquarters as part of its integration strategy. The deal included the FDA-approved lung cancer drug Krazati.

Novo says it is set to acquire Cardior for up to $1.1 bn, in a bid to enhance its cardiovascular treatment pipeline, aligning with the company’s focus on diabetes and building on the continued success of its weight-loss treatment, Wegovy.

AstraZeneca has announced its intention to acquire Fusion Pharmaceuticals, a clinical-stage biopharmaceutical company developing next-generation radiopharmaceuticals as precision medicines for the treatment of cancer.

With a notable shift in industry dynamics, increasing investments, and innovative breakthroughs, it appears we are witnessing signs of a significant resurgence.

London-based Relation Therapeutics has raised $60 million - including $35 million from the venture arm of Nvidia – to advance their technology in generating, analyzing and interpreting human data about the behaviour of genes, cells and tissues to identify new therapeutic targets and translate those into transformational medicines.

Tierra Biosciences has recently closed an $11 million Series A funding for its predictive AI protein engineering platform. The cash will be used to enhance capabilities in manufacturing proteins using predictive AI – across pharmaceutical, industrial and agricultural sectors.

Aspire Pharma, a UK-based company focusing on the development and enhancement of medicines, molecules and devices across a wide range of therapeutic areas, has completed the acquisition of Cenoté Pharma, a category specialist in carnitine deficiencies.

Akari Therapeutics is merging with Peak Bio in an all-stock deal, creating a combined entity under the Akari Therapeutics Plc name. The merger will integrate Akari’s advanced clinical programs with Peak Bio's new drug candidates, focusing on cancer and rare diseases.

Zeno Health has successfully raised $25 million in Series C funding, led by Korean PE firm STIC Investments and supported by existing investor Lightbox.

Curve Therapeutics has raised over $50 million Series A financing, led by Pfizer Ventures, to enhance its drug discovery platform. The funds will be used to expand their team, advance lead assets into clinical development, and grow their discovery platform.

Novo Nordisk has entered a $1.46 billion agreement with Neomorph to develop molecular glue degraders targeting cardiometabolic disorders and rare diseases. The collaboration encompasses upfront and milestone payments for multiple targets.

Biotech firms are experiencing a fundraising boom in US equity markets, with a record $6.2 billion raised in January 2024 - the highest amount since February 2021.

News coverage of AbbVie has centered around their plan for COO Robert Michael to succeed Richard Gonzalez in July, but the company also announced it completed its acquisition of ImmunoGen, adding the ADC ELAHERE for ovarian cancer to its portfolio.

Later, leaders from Sofinnova Investments, Blueprint Medicines, BioLineRx USA, and Dynavax should have a lively discussion about Independent Pathways to Commercial Success for Biotech Companies, and look out for the panel later on Oncology's Next Frontier, featuring speakers from Loxo@Lilly, Larkspur Bioscience, AbbVie, Merck Research Laboratories, and Abdera Therapeutics, which will cover antibody-drug conjugates (ADCs), Radiopharma, a and the future of cancer treatment.

In A Look at Biopharma M&A and Shifting Deal Dynamics, industry leaders from Merck, Avenzo Theraputics and Astellas Pharma will examine the intricacies of biopharma transactions and a future of regulatory challenges and changed market forces.