After a challenging few years, the biotech sector is experiencing a bifurcation in funding. While early-stage companies struggle to secure financing, clinical-stage biotechs and those in ‘hot’ therapeutic areas are thriving. This “winner-takes-all” environment is driven by both VCs and big pharma companies, which are increasingly drawn to assets closer to market.

Eli Lilly is exploring a novel approach to antibody discovery by leveraging oblique antibody technology. The method aims to target previously inaccessible areas of high-value proteins, which could lead to the development of innovative therapies.

U.S.-based mammalian and microbial biologic CDMO, Scorpius Holdings, announced a 16% year-over-year revenue increase for the second quarter of 2024, reflecting the company's strong performance and strategic initiatives in the biopharmaceutical sector.

Bora’s Board of Directors has approved a deal whereby Bora Biologics will combine its biomanufacturing capabilities with those of Tanvex, a biopharma focused on biosimilars that also provides CDMO services. The deal, which is expected to close in the first quarter of 2025, will bring together Bora’s CDMO capabilities and expertise from Tanvex, as well as its FDA-approved commercial-scale facility in San Diego.

WuXi Biologics has secured 61 new projects in the first half of 2024, with half originating from the U.S. The proposed BIOSECURE Act, which targets named Chinese biotech firms including WuXi Bio because of national security concerns. Although Wuxi has reiterated its commitment to regulatory compliance and denies it poses any security threats, it saw modest revenue growth and a significant decline in profits.

Biopharmaceutical and biotech CDMO Fujifilm Diosynth Biotechnologies has inaugurated a state-of-the-art microbial manufacturing facility in Billingham, UK. The company says the new facility will enhance its large-scale microbial production capabilities.

Recently published reports (from The Brainy Insights & InsightAce Analytic Pvt. Ltd) suggest the CDMO industry is poised for significant growth that will continue into the next decade. 

Samsung Biologics has become the first Korean CDMO to join the prestigious Pharmaceutical Supply Chain Initiative (PSCI), responsible for promoting sustainable supply chains in the biopharmaceutical industry.

Eli Lilly's recent financial success - largely driven by its GLP-1 weight loss drugs - has accounted for about 50% of last quarter's revenue. However, Chief Scientific Officer Dan Skovronsky cautioned investors about the complexities of developing competitive new obesity treatments.

German CDMO, Rentschler Biopharma, has opened a new production line in response to the surging demand for its CDMO services. The company is looking to increase its capacity to support the growing biopharmaceutical market, particularly in producing complex biologics, as the company seeks reliable partners for scaling up production.

Japanese biotech, Ajinomoto, plans to lay off 71 employees at its California facility as part of a strategic move to streamline its CDMO business. This decision follows the company’s recent $620mn investment in Forge Biologics, as it looks to enhance its capabilities in the biologics manufacturing sector through the optimization of operations and focus resources on key growth areas.

Personal genomics and biotechnology company, 23andMe, has announced it is shutting down its internal drug discovery group, and shifting its focus to the popular GLP-1 drugs. The decision will result in the loss of 30 jobs, as the company seeks an entry point in personalized weight loss treatment, amid struggles with declining revenue and a recent failed bid to take the company private.

Merck has announced its acquisition of CN201, an investigational B-cell depletion therapy from Curon Biopharmaceutical to target B-cell-mediated autoimmune diseases. As part of the deal, Merck will pay $700mn upfront for the rights to the treatment, which could rise by another $600mn based on successful development and regulatory approval targets.

Whilst we’re just past the halfway mark of 2024, mid-year analysis of the top selling drugs for the top 10 pharma companies provides some interesting insights into the demands of the market so far this year. Analysis from PharmaVoice shows that the leading drugs have generated over $55bn in revenue so far - just over 20% of the combined total revenue generated ($243.3bn) by the companies featured.

Triastek - the global leader in 3D printing pharmaceuticals - and BioNTech have announced a research collaboration and platform technology licensing agreement to develop 3D-printed oral RNA therapeutics. This collaboration will leverage Triastek's advanced 3D printing technology to optimize the delivery of RNA drugs via innovative oral tablet designs, ensuring they reach specific parts of the gastrointestinal tract. Triastek will receive a $10mn upfront payment, which could exceed $1.2bn based on milestone payments and royalties.

Alcami has expanded its pharmaceutical storage facility in Garner, North Carolina, as it looks to expand its offering for a wide range of cold, stability, and custom storage options. The new 65,000 ft² facility supports temperature-sensitive products like vaccines and biopharma therapies, with conditions ranging from controlled ambient to cryogenic storage.

End-to-end CDMO, Samsung Biologics, has reported a record-setting quarter, with a 37% increase in sales, driven primarily by its biosimilars unit, Samsung Bioepis. The company achieved significant year-over-year growth, including a 107% rise in biosimilars sales, largely due to successful products like Hadlima, a Humira biosimilars, increasing profits by 71%.

Agilent Technologies has recently announced an agreement to acquire leading, specialized CDMO, BIOVECTRA, for $925mn as the company looks to expand on its existing CDMO specialization in oligonucleotides and CRISPR. Utilizing BIOVECTRA’s specialization in biologics, highly potent active pharmaceutical ingredients, and other molecules for targeted therapeutics, Agilent will eventually be able to expand its capabilities in biologics, HPAPIs, and gene editing technologies.

Pharmaceutical Multinational, Novartis, has filed notice to close its San Diego R&D facility by mid-2025, eliminating 100 jobs. The facility, which is currently being used for oncology, neuroscience and immunology R&D, will be moved to other existing U.S. locations. The company says it plans to maintain a presence in San Diego.

Wolfgang Wienand has been announced as the new CEO of Lonza Group (starting July 1), succeeding Albert M. Baehny, who served as interim CEO since October 2023 and was Chairman of the Board until May 2024.