“Our new fit-for-purpose organizational structure and operating model will focus on accelerating our pipeline in immunology and oncology, supported by externally sourced opportunities, and we will discontinue our activities in fibrosis and kidney disease,” Stoffels noted in a statement.
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Australian pharma giant CSL is making a late bid for mRNA glory, and they’ve lined up one of the also-ran US Covid-19 biotechs touting their own particular tech twist to partner with.
Rep. Katie Porter (D-CA) is caught in the middle of a tight reelection race, with pollsters calling it a toss-up.
But that didn’t stop her office from releasing a new report yesterday on skyrocketing drug launch prices, particularly in oncology, as she calls for Congress to address with the momentum from the passage of the Inflation Reduction Act.
Her office’s 40-page report finds that the median launch price for new drugs increased by over 8,000% — from $2,115 to $180,087 — between 2008 and 2021. And for cancer drugs, the 2021 average drug launch price was $232,000, with projections that that number could grow to $300,000 per year by 2025.
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Artiva Biotherapeutics has elected not to move forward with an IPO. The San Diego cell therapy developer quietly disclosed its plans not to wade into the murky public waters in an SEC filing on Tuesday.
In September, iBio paid a very affordable price to gain access to an AI-based platform and new therapeutic candidates from the startup RubrYc as the Texas CDMO looks to dive further into drug discoveries. In its latest move, iBio is now jumping headfirst into drug discovery and the AI approach with the company getting rid of its CDMO arm.
The company announced on Thursday that it will divest its CDMO branch to form an “antibody discovery and development company.” The cash from the cost-savings and proceeds from the divestiture will be used to advance its lead oncology assets to the clinic and further develop the AI platform. The move will also be used to extend the company’s cash into the first half of 2024.
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