Original reporting and analysis on the stories shaping biotech.
Eli Lilly just paid up to $202 million for a startup with zero products, zero revenue, and zero clinical trials. The reason? A tiny fat bubble called Tethosome that might solve gene therapy's hardest problem.
Psychiatry diagnoses schizophrenia and bipolar disorder the same way it did 50 years ago: by talking and guessing. A tiny California company just got FDA fast-track status for a blood test that claims 98.3% accuracy in telling the two apart.
Biogen and Denali's LRRK2 inhibitor nailed every biological target in a 648-patient Parkinson's trial, then failed to help a single clinical measure. A billion-dollar partnership just lost its centerpiece, and the implications ripple across the entire field of neurodegeneration.
Isomorphic Labs, the Google DeepMind spinoff, just raised $2.1 billion in the largest AI drug discovery financing ever. With Nobel Prize-winning science, $3 billion in pharma deals, and zero approved drugs, the company is making the biggest bet the field has ever seen.
A Suzhou biotech just raised $80 million on the Hong Kong Stock Exchange to fight bacterial infections, an area most investors won't touch. Its lead drug crushed the standard of care for H. pylori in Phase III, and the company's hybrid chemistry platform could reshape how we treat everything from stomach bugs to infected hip implants.
Novartis is cutting research staff despite posting $13.1 billion in quarterly revenue and seeing its top drugs grow by double digits. The reason reveals a massive shift in how Big Pharma thinks about where innovation should come from.
Pharma companies have pledged a jaw-dropping $292 billion to build U.S. factories in just six months, driven by tariff threats that could double the cost of imported drugs. The numbers are historic, but turning promises into actual plants is a whole different game.
A 67-year-old man lived nine months on a gene-edited pig kidney before it was removed, and eGenesis just got FDA approval to take the technology much further. Nearly 100,000 Americans on the kidney waitlist are watching closely.
Moderna and Merck just finished enrolling their pivotal Phase III trial for a cancer vaccine custom-built from each patient's tumor DNA. The Phase IIb data already showed a 49% reduction in cancer recurrence at five years, and now the real test begins.
Faeth Therapeutics just posted an 80% response rate in endometrial cancer by starving tumors of their metabolic fuel. Their secret weapon? A drug combo that shuts down the PI3K pathway at three points, paired with a prescribed diet that cuts off the supply lines.
Pathos AI used its algorithm to scan thousands of datasets, flag a promising Belgian cancer drug, and acquire the company behind it. It's one of the first clinical-stage oncology deals sourced entirely by AI, and the early data on the drug itself is turning heads.
Bristol Myers Squibb is deploying Anthropic's Claude AI to more than 30,000 employees across every major function, from drug discovery to the sales force. It's the biggest enterprise AI bet in pharma, and BMS is racing a $15 billion patent cliff to prove it works.
Esperion Therapeutics once traded above $115. It was languishing under $2 when ARCHIMED swooped in with a $1.1 billion take-private deal. The cholesterol drug everybody forgot about might be the smartest private equity bet of the year.
UCB just agreed to pay $2 billion upfront for Candid Therapeutics, a company that didn't exist two years ago. The bet: that engineered T-cell engagers can reset the immune system in autoimmune disease. Bold move or biotech's priciest toddler?
Pfizer is betting big on a single molecule that fights cancer two ways at once, and it's headed straight for a showdown with the best-selling cancer drug on Earth. The Phase III data could reshape oncology or leave Pfizer's $1.25 billion gamble looking very expensive.
A new report warns that AI in clinical trials is amplifying biased datasets, reinforcing flawed site selection, and scaling bad decisions faster than ever. The $2.4 billion AI-in-trials market might be turbocharging the wrong things.
Parabilis Medicines filed its IPO the day after landing a $2.3 billion Regeneron deal. It's a textbook move in a market that's barely cracked the IPO window open, and it could set the template for every biotech trying to go public in 2026.
A Boston jury slapped Takeda with an $885 million verdict over a 2014 deal to delay a generic constipation drug, and treble damages could push the total past $2.5 billion. It's the first pay-for-delay trial loss in over a decade, and it has massive implications for how pharma negotiates with generic competitors.
The Supreme Court just refused to hear pharma's challenges to Medicare drug price negotiation, ending a three-year legal battle that saw the industry lose in every single court. Now the real strategic shakeout begins.
BioNTech's mRNA cancer vaccine just hit its primary endpoint in advanced melanoma patients who'd already failed checkpoint immunotherapy. The response rates are modest, but in a field littered with failed cancer vaccines, even modest is a milestone.
Immunovant paid $39 million to kill batoclimab after two Phase 3 thyroid eye disease failures, betting its future on a cleaner next-generation FcRn inhibitor. The move is a case study in biotech portfolio triage as the autoimmune antibody-lowering market heats up.
The first-ever PROTAC drug won FDA approval, then its own partners couldn't agree on how to sell it. A three-way deal with Rigel Pharmaceuticals finally resolves months of commercial limbo, and it could set the template for an entire new class of medicines.
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