Original reporting and analysis on the stories shaping biotech.
For decades, patients with a rare kidney disease called FSGS had zero approved treatments. Travere Therapeutics just changed that with the first-ever FDA-approved therapy, and Wall Street thinks it could be worth $2 billion.
Bain Capital just launched a $300 million biotech startup built entirely from Bristol Myers Squibb's castoff drugs. The CEO? The same guy who turned a Pfizer spinout into a $3.9 billion acquisition. Meet Beeline Medicines.
Novartis CEO Vas Narasimhan just became the first Big Pharma chief to join the board of a frontier AI company, landing a seat at Anthropic. It's a signal that pharma and AI are no longer flirting; they're moving in together.
The FDA approved Lilly's obesity pill Foundayo at record speed, then demanded five years of liver monitoring despite clean trial data. No liver problems showed up in trials, but the agency wants proof that stays true when millions start popping the pill.
A daily pill from Revolution Medicines nearly doubled survival in advanced pancreatic cancer patients compared to chemo, cracking a target that scientists called 'undruggable' for 40 years. The results were so strong the trial was stopped early, and even a former U.S. senator enrolled.
Spain is dropping $200 million on a government-backed biotech VC fund anchored in Boston, the first time a European country has seeded a venture fund on U.S. soil. It's a bold play to close Europe's biotech funding gap, and it might reshape how countries compete for life sciences talent.
Early-stage biotech funding cratered 38% in Q1 2026, and the startups that could produce tomorrow's cures are running out of cash. The IPO market is flush, but only for companies that already have the data investors demand.
The FDA's advisory committee just rejected six popular peptides from the compounding pharmacy playbook, and it's part of a much bigger crackdown targeting GLP-1 copycats and unapproved wellness peptides. The $50 billion peptide market will never look the same.
Novo Nordisk and OpenAI just struck a deal to embed AI across drug discovery, manufacturing, and operations, with full integration by year's end. It's the biggest signal yet that pharma's AI era has gone from PowerPoint fantasy to boardroom reality.
Gene therapies can cost millions per patient, and most never achieve commercial success. Ocugen's CEO thinks the industry is solving the wrong problem, and he's betting the company on manufacturing scale and affordable pricing over scientific novelty.
Astellas Pharma is shuttering its Seattle stem cell unit and cutting 55 jobs, eight years after paying $102.5 million for the technology. The move raises fresh questions about whether regenerative medicine can ever close the gap between scientific promise and commercial reality.
Click Therapeutics raised $50 million and then cut 27% of its staff in the same week. The company is betting it can succeed where Pear Therapeutics spectacularly failed: turning a prescription app into a real commercial product.
The FDA just contacted over 2,200 companies about 3,000 unreported clinical trials, and this time it's not just a friendly reminder. Nearly a third of trials that should have results on ClinicalTrials.gov are completely missing, and the agency's patience is running out.
Former Senator Ben Sasse enrolled in a Revolution Medicines trial for a drug that scientists said couldn't exist, targeting the "undruggable" protein behind 90% of pancreatic cancers. The Phase 3 data that just dropped shows patients living nearly twice as long as those on chemo.
Neomorph just raised $100M to advance a drug that works nothing like traditional medicine: instead of blocking cancer proteins, it glues them to the cell's trash compactor. With Deerfield, Regeneron Ventures, and three Big Pharma partnerships already in hand, the real test starts now.
A company that didn't exist two years ago wants to raise $528.5 million in one of the biggest biotech IPOs of 2026. Kailera Therapeutics is betting the obesity drug market is big enough for one more GLP-1 player, and Bain Capital is putting $225 million where its mouth is.
Amgen and Boehringer Ingelheim both killed immunology programs on the same day, citing slim odds of success. The terminations were tiny, but the signal they send about pharma's tightening standards is anything but.
A protein detection company you've probably never heard of just tripled its revenue and is asking Wall Street for a billion-dollar valuation. Alamar Biosciences is betting that proteins, not just DNA, hold the key to finding diseases early.
AbbVie just licensed two early-stage, non-opioid pain drugs from a Chinese pharma company most people have never heard of, in a deal worth up to $745 million. It's a small upfront bet with massive implications for AbbVie's post-Humira future and the booming China-to-West licensing pipeline.
Eli Lilly just dropped up to $300 million on a two-year-old company with zero drugs in human testing. CrossBridge Bio's dual-payload ADC technology has Big Pharma salivating, and this deal says a lot about where the antibody-drug conjugate arms race is headed.
GSK is launching five Phase 3 trials simultaneously for a gynecologic cancer ADC that posted a 62% response rate in heavily pretreated ovarian cancer patients. It's the company's boldest oncology bet in years, and it's targeting a space the biggest ADC players have mostly ignored.
Boehringer Ingelheim and Amgen both axed immunology programs within weeks of each other, one for futility and one for safety. They're not retreating from the space; they're raising the bar for what deserves to survive.
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