Healthcare & Life Sciences News & Trends Recap: July Week 2
Healthcare & Life Sciences News & Trends Recap: July Week 2
1. Market: Fudan Alumni-Founded MedTech Firms Lead the Charge in Fundraising
Fudan University alumni have been notably active in the healthcare entrepreneurship sector, with many recent funding announcements from companies founded by Fudan graduates. For example, Singlera Genomics completed a major financing round exceeding 100 million yuan with support from various government funds, and its core team includes two Fudan alumni. This is part of a broader trend where numerous Fudan-affiliated biotech firms like UniXell Biotech, Pyrotech, D3 Bio and Reunion have secured substantial investments. This pattern is not limited to startups; larger companies like Fosun Pharma and Qyuns Therapeutics were recently listed in Hong Kong.
Read the full Chinese article about Fudan alumni’s active presence in healthcare.
2. Business Moves
i. Vertex Expands Gene Editing Horizons with Orum Licensing Deal
Vertex Pharmaceuticals made significant progress in gene editing therapy, notably with the approval of CRISPR Therapeutics’ sickle cell treatment, Casgevy. To expand its gene editing portfolio, Vertex has entered a licensing agreement with South Korea’s Orum Therapeutics. The deal involves an upfront payment of $15 million, potential milestone payments of up to $310 million per target, with royalties on future sales, covering three targets. Vertex will leverage Orum’s degrader-antibody conjugate technology to develop new conditioning agents. These agents prepare patients for intense therapies, like gene therapy, by increasing treatment success rates and reducing side effects. Orum previously secured a deal with Bristol Myers Squibb for a phase 1 blood cancer treatment involving a $100 million upfront payment.
Read the full article about Vertex’s deal with Orum.
ii. Pfizer, Nvidia Lead $80m Investment in AI MedTech Firm CytoReason
Israel’s CytoReason, an AI-driven disease model developer, raised $80 million in a private funding round with contributions from Nvidia, Pfizer, Thermo Fisher, and OurCrowd. The funds will help CytoReason expand its model applications to more medical indications and grow its molecular and clinical data. The company also plans to open an office in Cambridge, Massachusetts, this year. Pfizer expanded its partnership with CytoReason in 2022. Leveraging CytoReason’s advanced immunology multiomics platform is expected to support drug development, given that it complements Pfizer’s R&D capabilities. Currently, six of the world’s top 10 pharmaceutical companies use CytoReason’s technology for data-driven decisions in various therapeutic areas, including immunology, inflammation, immuno-oncology and metabolism.
Read the full article about the investment in CytoReason.
iii. SK Inks $571.5m Deal for Full-Life
SK Biopharmaceuticals, aiming to become a leader in Asia’s radiopharmaceutical sector, has made a significant move by striking a $571.5 million deal with Full-Life Technologies to license a promising drug candidate. Traditionally focused on central nervous system disorders with its epilepsy drug Xcopri, SK is expanding into oncology and radiopharmaceuticals. This deal involves Full-Life’s NTSR1-directed radionuclide drug conjugate program, FL-091, which targets various tumours. SK has secured global rights for FL-091 and the option to license other Full-Life programs. Additionally, SK has reinforced its oncology strategy by acquiring a majority stake in Proteovant Therapeutics, enhancing its protein degradation capabilities and cancer research efforts. CEO Donghoon Lee hinted at more radiopharmaceutical business developments to be announced later this year.
Read the full article about SK’s $571.5 million deal.
iv. Roche’s $2.7b Investment Yields Early Success in Oral GLP-1 Weight-Loss Treatment
Roche’s $2.7 billion acquisition of Carmot Therapeutics has shown promising early results. In a phase 1 trial, participants lost an average of 7.3% of their body weight after four weeks of taking Carmot’s oral GLP-1 drug, CT-996, compared to a 1.2% reduction in the placebo group. This weight loss is significant, especially given that similar drugs from competitors showed weight loss over longer periods. Roche’s CT-996 can be taken daily without the need for an empty stomach, which offers dosing flexibility. While there are still gaps in the data, the early results suggest that CT-996 could be competitive in the market. Safety data from the trial indicates mostly mild to moderate gastrointestinal side effects, with no discontinuations due to the drug. Roche sees potential for CT-996 not only in achieving glycemic control and weight loss but also as maintenance therapy after injectable treatments.
Read the full article about Roche’s GLP-1 drug.
3. People Moves: J&J, Jacobio and Thermo Fisher
Gilead: Chief Medical Officer Dr. Merdad Parsey will leave Gilead Sciences in early 2025. He will continue in his role until the first quarter of 2025 and assist with the transition. CEO Daniel O’Day praised Merdad for his significant contributions over the past five years, highlighting the doubling of Gilead’s portfolio and the advancement of 54 clinical trials. Merdad, who joined Gilead in 2019, played a key role in expanding the company’s development organisation and the establishment of the oncology pipeline and therapeutics.
Johnson & Johnson: Johnson & Johnson (J&J) appointed Edward Zhou as the head of its medical technology business in China, effective July 25. Zhou, who previously worked for J&J for nearly 30 years before moving to Cytiva, will replace Will Song, who resigned in April. Zhou will focus on advancing the company’s long-term strategy and accelerating growth. Zhou’s previously served as J&J’s China general manager for consumer products and Vicryl, where he drove business innovation and market expansion. At Cytiva, Zhou integrated its life sciences business with Danaher subsidiary, Pall.
Jacobio: Jacobio Pharma appointed Dr. Michael Ren as the new Vice President of Chemistry. Dr Ren brings over 20 years of experience in medicinal chemistry and leadership roles in biopharmaceutical companies in California. He will focus on drug discovery and developing undruggable targets.
Thermo Fisher: Thermo Fisher Scientific’s current President of the Chemical Analysis Division, Miguel Faustino, will assume the role of President of Thermo Fisher China, effective August 1. Faustino suceeds Hann Pang. Faustino, who has been with the company for over 11 years, is recognised for his ability to bridge regional and global operations and attain growth in the Chinese market.
Read the full article about Merdad’s departure from Gilead.
Read the full article about J&J’s CEO from Cytivia.
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Image Sources:
- NoCamels.com
- Gilead
- Biopharmadive.com