BioNTech Acquires Biotheus for $800M to Boost Cancer Drug Pipeline, Nov 14, 2024
BioNTech has acquired China-based cancer drug developer Biotheus for $800M, with an additional $150M tied to development milestones. The acquisition focuses on BNT327/PM8002, a promising checkpoint inhibitor in solid tumor trials. BioNTech plans to integrate this asset with its mRNA technology to enhance cancer treatment outcomes. The deal will close in Q1 2025, pending regulatory approval.
Full Article: BioNTech Acquires Biotheus for $800M
BeiGene Rebrands as BeOne Medicines to Strengthen Oncology Focus, Nov 14, 2024
BeiGene has rebranded to BeOne Medicines Ltd., reflecting its commitment to oncology innovation. The rebrand introduces a new logo symbolizing the company’s mission to "turn cancer off." BeOne aims to expand access and innovation, backed by strong sales of Brukinsa and a new $800M R&D facility.
Full Article: BeOne Medicines: The New Face of BeiGene
Gilead to Lay Off 72 Employees and Close Seattle Office, Nov 14, 2024
Gilead Sciences will lay off 72 employees and close its Seattle office as part of a broader resource alignment strategy. The closure impacts Gilead's oncology efforts, including its CAR-T therapies, Yescarta and Tecartus, as part of a response to ongoing challenges. The company saw a 7% revenue increase in Q3 2024 despite these restructuring efforts.
Full Article: Gilead Lays Off 72 in Seattle
Sensei Biotherapeutics Cuts 46% of Workforce and Shutters Research Site, Nov 14, 2024
Sensei Biotherapeutics is reducing its workforce by 46% and closing its Rockville, MD research site to focus on the development of SNS-101, a VISTA-targeting immune checkpoint inhibitor. SNS-101 is in Phase 1/2 trials and aims to treat PD-1 inhibitor-resistant cancers, with data expected in 2025. The company’s restructuring extends its cash runway into Q2 2026.
Full Article: Sensei Lays Off 46% of Workforce
IDRx Provides Updated Data from Phase 1/1b Trial for IDRX-42 in GIST, Nov 14, 2024
IDRx announced updated data from its Phase 1/1b StrateGIST 1 trial of IDRX-42, a TKI for gastrointestinal stromal tumors (GIST). At the recommended Phase 1b dose, there was a 29% overall response rate, with 53% in second-line patients. The treatment demonstrated a 6-month progression-free survival (PFS) of 85% in second-line patients, and median PFS of 9.2 months in later lines.
Full Article: IDRx Phase 1 Data on IDRX-42 in GIST
Blue Earth Therapeutics Raises $76.5M in Series A for Radiopharmaceuticals, Nov 12, 2024
Blue Earth Therapeutics raised $76.5M in a Series A funding round led by Soleus Capital and Sands Capital. The funds will support the development of PSMA-targeted radioligand therapies. New board members from Soleus, Sands, and Bracco, along with CEO David Gauden, will drive strategic growth for the company.
Full Article: Blue Earth Therapeutics Series A Funding
Alentis Therapeutics Secures $181.4M in Oversubscribed Series D, Nov 12, 2024
Alentis Therapeutics raised €164.5 million ($181.4 million) in an oversubscribed Series D funding round, co-led by Jeito Capital and OrbiMed. The funds will advance clinical development of treatments targeting CLDN1+ tumors and fibrosis, with Phase 1/2 trials for ALE.P02 set to begin in early 2025.
Full Article: Alentis Therapeutics Series D Funding
Geron Appoints Joseph Eid as EVP of Research and Development, Nov 11, 2024
Geron Corporation has appointed Joseph Eid, M.D., as Executive Vice President of R&D. Dr. Eid will lead efforts to advance RYTELO™ and expand Geron’s impact in hematologic malignancies. He joins from Merck and Bristol Myers Squibb, bringing over two decades of leadership experience in oncology.
Full Article: Geron Appoints Joseph Eid as EVP
