Top Biopharma News for 05/29/2024


Here are the latest stories being discussed in biopharma today:

Biotech/Pharmaceutical Industry News

Key Stories in Biotech/Pharma

Biohaven’s Autoimmune Drug Underwhelms in Volunteer Study

Biohaven’s ambitious endeavor to combat autoimmune diseases took a hit as the latest study points to less-than-anticipated outcomes. The experimental drug, BHV-1300, aimed to reduce harmful IgG antibodies by transporting them to the liver for destruction. Although the drug achieved a 37% reduction at its highest dose, these results failed to meet investor expectations, leading to a 20% drop in Biohaven’s share price.

Merck Eyes Lucrative Deal with EyeBio Worth up to $3B

Marking its return to the ophthalmology sector, Merck has inked a deal to acquire EyeBio for $1.3 billion in cash, potentially increasing to $3B with performance-based payouts. The significant investment follows Merck’s 2014 exit from the eye disease market and represents a substantial commitment to reinvigorating its presence in this lucrative field.

J&J’s Depression Drug Achieves Success in Phase 3 Trial

Johnson & Johnson has announced promising Phase 3 trial results for seltorexant, a drug targeting major depressive disorder (MDD) and insomnia. The trial showcased statistically significant improvements in depressive symptoms and sleep disturbances, marking a potential breakthrough for patients who struggle with both conditions and have limited treatment options.

Arrowhead Plans Forward Path After RNAi Therapy Success

Following positive mid-stage trial results in mixed hyperlipidemia, Arrowhead Pharmaceuticals is outlining future strategies for its RNA interference therapies, ploza-siran and zodasiran. These treatments target specific genes linked to lipid production, and further analysis will determine the regulatory pathway and potential patient populations they could benefit.

NY Startup Secures $33M for IVF Treatment Innovation

Gameto, a New York-based startup, has raised $33 million to advance a groundbreaking fertility treatment that could revolutionize in vitro fertilization (IVF). Drawing from the innovative stem cell research by Harvard’s George Church, the company’s Fertilo aims to significantly reduce or eliminate the painful hormone injections typically required for egg maturation.

Insmed, Merus Announce Major Public Offerings

Insmed has launched a $500 million public offering following positive Phase 3 trial results for its lung disease therapy. Meanwhile, Merus has announced a $300 million offering on the heels of promising Phase 2 data for its cancer treatment petosemtamab in combination with Merck’s Keytruda, showing a 67% response rate in head and neck cancer patients.