News Archive

Seven months after Nimbus Therapeutics sold an experimental autoimmune disease medicine to Takeda Pharmaceuticals for up to $6 billion, the Boston biotech said Wednesday it has raised $210 million in venture capital to advance its pipeline of drugs to combat other disorders, including cancer.

Cruising on the midstage clinical success of a brain cancer therapy, Day One Biopharmaceuticals is using the wind at its sails to bolster the back of its pipeline with a $3 million upfront deal for Sprint Bioscience's preclinical program.

Eli Lilly will pay up to $1.925 billion in cash for weight loss drugmaker Versanis, marking the Big Pharma’s fourth acquisition this summer after deals for DICE Therapeutics, Sigilon and Emergence Therapeutics.

Reverse mergers are in vogue, and Frequency Therapeutics will join the bonanza, with RNA editing startup Korro Bio expected to take its spot on the Nasdaq in the fourth quarter.

Times remain tough for private biotech venture capital funding. Access to capital is more constrained than it’s been in years, and companies are starting to feel the pinch. Yet, despite the pain after a cycle of excess, perhaps this return towards more discipline should be embraced.