Author: yourbiotech

Novartis is doling out $40 million cash for exclusive licensing rights to 3B Pharmaceuticals’ cancer-targeting tech, wrapping up some loose ends for a radiotherapy picked up from Clovis Oncology at the end of last year. Novartis is giving 3BP the chance to make up to $425 million in biobucks in return for global rights to develop and commercialize therapeutic and imaging applications stemming from 3BP’s technology. The German biotech—which centers around targeted molecular radiopharmaceuticals and diagnostics in the oncology space—will keep certain rights to uses its imaging tech that targets fibroblast activation protein (FAP) for diagnostic purposes. FAP is a molecule…

Fungi, an integral component of the Earth’s biological system, have long been employed to improve human life. While these creatures are still mostly unknown, a new research report argues that their distinct genomes could be used to advance the biotech sector. “The wonderful thing about fungi is they fulfill so many niches,” said Mitchell Roth, lead author of the review and an assistant professor of plant pathology at The Ohio State University. “They can be found everywhere, and a lot of times you’ll find fungi that have already adapted to survive in unlikely environments.” Recently, scientists have made incredible breakthroughs…

Biotech companies, including Catalyst Pharmaceuticals Inc., Mersana Therapeutics Inc., and Harmony Biosciences Holdings Inc., are leading peers in revenue growth within an industry that has sustained overall performance following slowing vaccine demand.1 The S&P Biotechnology Select Industry Index has fallen about 4% in the past 12 months, compared with a 7% drop in the Russell 1000 Index.2 We look at the top three biotech stocks in three categories: the best value, the fastest growth, and the best performance. The data are as of April 14. Best Value Biotech Stocks These are the biotech stocks with the lowest 12-month trailing price-to-earnings (P/E) ratio.…

Biotech companies, including Catalyst Pharmaceuticals Inc., Mersana Therapeutics Inc., and Harmony Biosciences Holdings Inc., are leading peers in revenue growth within an industry that has sustained overall performance following slowing vaccine demand.1 The S&P Biotechnology Select Industry Index has fallen about 4% in the past 12 months, compared with a 7% drop in the Russell 1000 Index.2 We look at the top three biotech stocks in three categories: the best value, the fastest growth, and the best performance. The data are as of April 14. Best Value Biotech Stocks These are the biotech stocks with the lowest 12-month trailing price-to-earnings (P/E) ratio.…

With the global electronics industry still reeling from the latest volleys in the semiconductor trade war, biotechnology could become the latest strategic sector in the US-China technology competition. Yet if biotech is divided across geopolitical lines, it could have worrying implications for global health and biosecurity. An executive order by US President Joe Biden in September last year to increase domestic manufacturing stoked speculation that biotechnology could go the way of semiconductors. Already in February that year, Chinese biotechnology companies were among those newly added to the Commerce Department’s unverified list, making it harder to export to those companies. Meanwhile, China announced it…

In May of last year, after Seagen rejected Merck’s offer to acquire it for $230 per share, the Seattle biotech saw its value tumble. Just three months later, Merck’s offer had dropped to $195 per share. But playing the waiting game—and courting another global pharmaceutical powerhouse—worked out favorably for Seagen. Pfizer’s acquisition last month of the cancer specialist got Seagen close to its original asking price. The $43 billion deal works out to $229 per share. In a Schedule 14A filing with the Securities and Exchange Commission, Seagen gave (PDF) a blow-by-blow account of negotiations over its sale, which were waged over three years.…

NKGen Biotech, Inc. (“NKGen”), a clinical stage Natural Killer (NK) cell therapy company, has entered into a merger agreement with Graf Acquisition Corp. IV NKGen Biotech, Inc.’s non-genetically modified, enhanced and expanded NK cells have the potential to be a possible treatment for Alzheimer’s and Parkinson’s diseases and other neurodegenerative and oncological diseases NKGen is expected to have a pro forma enterprise value of at least $160 million, based on $145 million in pre-money equity value plus conversion to equity at closing of at least $15 million of outstanding private convertible securities and accrued interest Initial Phase I trial data…

In the first quarter of 2023, 56 biopharmas laid off staff—an 87% jump compared to 2022, when 30 companies reported layoffs for the same period, according to a Fierce Biotech analysis.  Transitioning from using RUO to cGMP chemicals for clinical trials Sponsored by Thermo Fisher Scientific By 2030, the global demand for biologics is projected to grow at a CAGR of 8.7% and the challenges, risks, and costs of bringing large molecule products to market are growing exponentially. For new and emerging pharma companies who want to bring their new biologic to market, meeting clinical trial milestones to be first to…

The rocky market hit every aspect of biotech, creating poor prospects for going public, sparse M&A activity and a pullback in venture capital investment. But it isn’t all bad, with global VC levels still topping 2019 investment and anti-aging researcher Altos Labs bringing in an eye-popping $3 billion by itself. In total, private biotech investors put down $21.7 billion last year, compared to 2021’s whopping $28.5 billion, according to Evaluate Vantage’s year-end report (PDF). The number of fundraises also dropped 25%, with 381 rounds last year versus 514 in 2021. Only 65 rounds equaled or eclipsed $100 million in 2022, compared to 93…

Singapore healthcare and biotech companies are making a bigger play in overseas markets like the United States, drawn by the country’s large market size and resources. Among them is Singapore biotech start-up Lucence, which developed a blood test to profile cancer. The liquid biopsy tests, which it started using in Singapore in 2018, is said to be much less invasive than conventional tissue biopsy and takes less time to administer and diagnose. The firm expanded to Silicon Valley three years ago. The move has enabled them to reach two-and-a-half times more patients in 2022 compared to the year before, said…