Issue #16·

BioNTech's founders just quit the company they built from scratch

The married couple behind one of biotech's biggest pandemic success stories is walking away to start over, and BioNTech's stock cratered on the news. Meanwhile, Big Pharma is quietly abandoning the one class of drugs modern medicine literally can't survive without.

Top Story Today

BioNTech's Power Couple Just Broke Up With Their Own Company

Ugur Sahin and Ozlem Tureci, the married co-founders who built BioNTech into a major mRNA powerhouse, announced they're leaving by the end of 2026 to launch a brand-new startup. The stock dropped over 20% on the news. No CEO or CMO successor has been named, despite seven major data readouts expected this year alone. BioNTech will grant mRNA technology rights to the new venture in exchange for a minority stake, but the founders will need to find their own funding.

Why it matters: Founders choosing to leave a company they built (not because it failed, but because they think the next mRNA breakthrough needs a smaller, nimbler home) signals that the technology's most exciting chapter may still be ahead.

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Public Health

Big Pharma Is Quietly Walking Away From the One Drug We'll All Need

The world's largest drugmakers slashed antibiotic pipelines by 35% in five years, per a new AMR Benchmark report. MSD cut 85%. Superbugs already kill over 1.14 million people annually, and that number is projected to hit 1.91 million by 2050. Small biotechs are picking up the slack, but asking startups to solve a crisis that trillion-dollar companies won't touch is a shaky strategy.

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Clinical and Regulatory

The FDA Just Gave a Delayed Cell Therapy a Second Chance

Eight months after issuing a Complete Response Letter for Capricor's cell therapy for Duchenne muscular dystrophy, the FDA resolved the CRL and resumed review, setting an August 22 decision date. New Phase 3 data from HOPE-3 hit its primary endpoint for upper limb function. If approved, deramiocel would be the first cell-based therapy targeting the heart failure that ultimately kills most DMD patients.

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Two Pharma Giants Crashed the Obesity Party on the Same Day

AbbVie posted up to 9.79% weight loss at just 12 weeks with a non-GLP-1 amylin analog, while Regeneron's Phase 3 candidate hit 19.3% weight loss at 48 weeks with nausea rates under 10% (versus 25-29% for Zepbound). Neither is trying to out-Ozempic anyone; both are carving differentiated paths into a market that's no longer a two-horse race.

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Science and Startups

ARPA-H Wants to Turn Your Body Into a Real-Time Dashboard

The government's health research agency launched the Delphi program to build modular biosensor "chiplets" that snap together like Legos and track hormones, inflammation, and drug levels in real time. It's a 4.5-year plan to bridge the gap between Fitbit-grade wellness tracking and actual clinical diagnostics. Solution summaries are due April 8.

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The Molecular Glue Startup That Ran Out of Stick

f5 Therapeutics shut down after six years, five preclinical programs, and zero Series A dollars, despite working in a field where Big Pharma spent billions on deals in 2024 alone. The science was promising; the early-stage funding environment was brutal. It's a sharp reminder that in biotech, clever science without capital is a hobby, not a company.

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