Original reporting and analysis on the stories shaping biotech.
Earendil Labs closed a $787 million financing round designed less like a fundraise and more like a geopolitical hedge. With Delaware incorporation, Beijing R&D, a potential Hong Kong IPO, and Sanofi as a strategic backer, the deal offers a blueprint for how biotech might survive the U.S.-China cold war.
T-cell engagers were built to kill tumors. Cullinan Therapeutics just showed they can safely wipe out rogue immune cells in lupus and RA patients too, and the entire pharma industry is watching. The next six months could reshape autoimmune treatment forever.
The FDA just approved the first-ever PROTAC drug, a molecule that tricks cancer cells into destroying their own growth machinery. It's a modest commercial story but a massive scientific milestone, and it could reshape how we think about making medicines.
Roche's chairman called U.S. drug pricing tactics "cold-blooded blackmail" at a Swiss forum, comparing tariff threats to having a gun pointed at the company. The escalating war of words between one of the world's biggest drugmakers and Washington is reshaping how pharma fights back on pricing.
A single antitrust verdict over a constipation drug you've never heard of just turned one of the world's biggest pharma companies from profitable to unprofitable. Takeda's $2.5 billion legal provision is a masterclass in how litigation risk can swallow an entire year of earnings.
Alkem Laboratories just launched a semaglutide syringe in India for about $4 per dose, while a month of Wegovy still costs $350 in the U.S. With over 40 Indian generic makers piling into the market, the GLP-1 pricing story is about to get very uncomfortable for Novo Nordisk and Eli Lilly.
The FDA is formally re-studying mifepristone's safety despite 25 years of clean post-marketing data and no new safety signals. Scientists say the review is driven by political pressure, not science, and the precedent could threaten any politically controversial drug.
The FDA just told gene therapy developers they can stop rebuilding the same data packages from scratch. Two new draft guidances could reshape how genome-editing therapies and cancer biologics reach patients, but the real winners might surprise you.
A Chinese pharma company just got FDA approval for a novel anesthetic that could chip away at propofol's 35-year reign. It's the first China-originated IV anesthetic to crack the U.S. market, and the implications go way beyond the operating room.
Moderna and Merck's personalized mRNA cancer vaccine just posted three-year data in melanoma that are turning heads across oncology. The benefit isn't fading; it's getting stronger, and the phase 3 is fully enrolled.
Axsome Therapeutics settled all U.S. patent lawsuits around its narcolepsy drug Sunosi, blocking generic competition until at least 2040. For a mid-cap pharma company, that's an unusually aggressive (and impressive) legal play worth watching.
ADC Therapeutics' lymphoma drug Zynlonta delivered three times as many patient deaths as the control arm in its key Phase 3 trial, despite hitting its efficacy target. The fallout could reshape how regulators evaluate the entire antibody-drug conjugate class.
The Supreme Court just handed generic drugmakers their biggest legal win in years, making it far harder for brand companies to sue over "skinny label" generics. The ruling could accelerate cheaper competition for some of the most expensive drugs on the market.
RA Capital built a turnkey platform called Swiftbridge that packages China's faster, cheaper clinical trial machine for its 100+ portfolio companies. It's a bold bet on US-China biotech cooperation at the exact moment Washington is trying to pull the plug.
Rallybio is handing 97% of its company to a private oncology startup, and some of biotech's biggest investors just piled $215 million into the deal. Here's why a reverse merger with Avenzo Therapeutics might be the most interesting deal structure in biotech this year.
Autobahn Therapeutics just dropped Phase 2 data for a brain-targeted thyroid drug in bipolar depression, and the numbers are raising eyebrows. A tiny trial, no placebo arm, and yet the signal might be too strong to ignore.
Parabilis Medicines just filed for a $413 million Nasdaq IPO, making it one of the biggest biotech listings attempted in 2026. Led by a former J&J R&D chief with eye-catching tumor data and a Regeneron partnership in tow, the deal could determine whether the biotech IPO drought is finally over.
A new bipartisan bill would screen U.S. biotech licensing deals, joint ventures, and investments flowing to China, going far beyond existing case-by-case reviews. The biotech industry is sharply split on whether it's a national security necessity or an innovation killer.
The FDA just launched a program to watch clinical trial data in real time, not months after the fact. AstraZeneca and Amgen are piloting it first, and if it works, drug development may never look the same.
Regeneron expanded its CytomX partnership to a potential $4 billion, doubling down on "masked" cancer drugs that stay silent until they reach a tumor. It's a bold bet on a platform that other pharma partners had abandoned.
Alnylam, the undisputed leader in RNAi therapeutics, just signed a deal worth up to $2 billion with an AI startup founded by a co-author of the transformer paper behind ChatGPT. The message is clear: even dominant platform companies think machine learning is now essential to stay competitive.
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