Biotech venture firms continue ‘recalibration’ in third quarter, Pitchbook report finds
Dive Brief: Venture capital activity in biotechnology is undergoing a “recalibration towards pre-pandemic investment norms,” according to a new quarterly report from Pitchbook that tracks global funding and dealmaking in the sector. Pitchbook projects there will be about 840 venture…
AbbVie to buy Cerevel in $8.7B bet on brain drugs
AbbVie is restocking its drug pipeline in a big way, announcing Wednesday an $8.7 billion deal to buy neuroscience-focused Cerevel Therapeutics, just days after agreeing to a similar sized acquisition of the cancer biotechnology company ImmunoGen. Per the deal, AbbVie…
Pfizer, after delay, completes enrollment in Lyme vaccine trial
Dive Brief: Pfizer and partner Valneva announced Monday that they have finished enrolling participants in a Phase 3 trial evaluating their experimental vaccine for Lyme disease. The announcement ends a lengthy delay that began in February, when the two companies…
BIO names longtime Amicus head John Crowley as its new CEO
The Biotech Innovation Organization on Tuesday named Amicus Therapeutics co-founder and longtime leader John Crowley as its new CEO, taking over a spot interim chief Rachel King has held for the past 14 months. BIO’s decision to name Crowley, who…
EyePoint sees stock surge on AMD drug trial data
Shares in EyePoint Pharmaceuticals more than tripled Monday morning after the Massachusetts-based biotechnology company announced summary results from a mid-stage study of an experimental eye disease drug it’s developing. EyePoint’s medicine, called vorolanib, matched the performance of Regeneron’s top-selling drug…
Lilly cancer drug cleared by FDA for expanded leukemia, lymphoma use
Dive Brief: The Food and Drug Administration granted conditional approval to Eli Lilly’s oral cancer drug Jaypirca in two types of blood cancer, expanding its use from a rare type of lymphoma to people with leukemia and lymphoma patients who…
Revolutionizing clinical trials: Unlocking peak efficiency with total laboratory automation in bioanalysis
With clinical trials becoming more complex, finding ways to streamline and automate laboratory processes is vital when analyzing bioanalytical samples. As the chief scientific officer of large-molecule bioanalysis, Dr. Tom Zhang leverages his expertise to promote ever-evolving automation technologies. He…
FDA names chief scientist Bumpus as Woodcock’s successor
The Food and Drug Administration’s top scientist Namandjé Bumpus will assume the role of principal deputy commissioner when longtime agency leader Janet Woodcock retires from that role in early 2024, according to an announcement Thursday. Among Bumpus’ priorities when she…
CRO disputes Acelyrin’s implication of trial misconduct
Dive Brief: A contract research organization working for biotechnology company Acelyrin is disputing suggestions that it may be responsible for the failure of a high-profile study released in September. On Monday, Acelyrin said it began implementing extra quality control measures…
Pfizer plans for oral obesity drug hit new setback
Dive Brief: Pfizer will not advance a twice-daily dose of an experimental obesity drug into further testing after results from a mid-stage study showed high rates of gastrointestinal side effects and participant dropout. Treatment did lead to significant weight loss…