Original reporting and analysis on the stories shaping biotech.
Anthropic just dropped $400 million in stock to acquire a stealth biotech startup with no product, no revenue, and fewer than 10 employees. The deal netted one early investor a jaw-dropping 38,513% return, and it signals a brand-new front in the AI-biotech arms race.
Neurocrine Biosciences just dropped $2.9 billion on Soleno Therapeutics to own the only approved drug for Prader-Willi syndrome's life-threatening hunger. The deal says a lot about what big pharma is willing to pay in 2026's red-hot M&A market.
Gilead just agreed to pay $3.15 billion (and up to $5 billion total) for a Munich startup most people have never heard of. Tubulis' "guided missile" cancer drugs caught Gilead's eye with a 59% response rate in hard-to-treat ovarian cancer, and the deal says everything about where oncology is headed.
Replimune's tumor-killing virus drug faces a make-or-break FDA decision on April 10, but the agency that rejected it last year has lost nearly every leader who made that call. The approval has become a litmus test for whether the FDA can still function amid unprecedented turmoil.
Biogen's newest deal isn't about a single drug; it's about fixing the delivery problem that's been holding back an entire class of genetic medicines. Alloy Therapeutics' shape-shifting ASO platform claims 50x better potency, and Sanofi already placed a $427M bet on it.
A computer just designed a new opioid addiction drug that doesn't touch opioid receptors at all. GATC Health's AI-generated candidate is heading into human trials, and it could signal a turning point for a field that's been stuck for decades.
Sanofi's bispecific antibody lunsekimig crushed its respiratory trials in asthma and nasal polyps, then face-planted in eczema. The split verdict reveals why building one drug to rule multiple diseases is biotech's hardest trick.
Takeda walked away from an eight-year, $150M neuroscience partnership with Denali Therapeutics, handing back a promising dementia drug with no safety concerns. The reason? "Strategic considerations." Now Denali has to go it alone with nearly $1B in cash and Phase 1/2 data coming this year.
The FDA canceled a critical meeting with Kezar Life Sciences without explanation. Four months of silence later, the biotech was dead, its promising autoimmune hepatitis drug orphaned, and AIH patients left waiting for a treatment that may never come.
The White House slapped 100% tariffs on imported drugs, then handed pharma companies a menu of ways to avoid paying. With $400 billion in manufacturing promises, a blockbuster M&A week, and a growing trust crisis over peptide drugs, the biotech landscape just got a lot more complicated.
Three mega-deals worth over $20 billion landed in March alone, with Lilly, Merck, and Biogen all making billion-dollar bets. Big pharma's $1.2 trillion cash pile and looming patent cliffs are fueling what Goldman Sachs calls a potentially record-breaking year for biotech dealmaking.
UCSF scientists identified a single protein, FTL1, that drives brain aging in mice, and reducing it actually reversed cognitive decline. In a field obsessed with slowing aging, this is the first target that put the car in reverse.
A stealthy oncology startup just burst onto the scene with $100 million and a platform that claims to solve one of cancer drug development's oldest problems. The investors backing Stipple Bio read like a who's who of biotech venture capital, but the company hasn't even named its target yet.
Boehringer Ingelheim just named ADCs and T-cell engagers as its top M&A targets, adding another deep-pocketed buyer to oncology's most competitive shopping aisle. With nearly EUR 6.4 billion in annual R&D spending, the privately held pharma giant is about to make the bidding wars even more intense.
For 20 years, Hunter syndrome patients had a treatment that helped their bodies but couldn't reach their brains. Denali Therapeutics just changed that with the first enzyme replacement therapy engineered to cross the blood-brain barrier, and the FDA approved it early.
FDA Commissioner Marty Makary is rewriting the rules of drug approval: one trial instead of two, AI-powered reviews, and a new pathway for ultra-rare diseases. The biotech industry loves the vision, but Wall Street isn't sure the execution can keep up.
GSK raided Sanofi's bench to grab a 25-year vaccine veteran with 20-plus regulatory approvals under his belt. With mRNA rivals closing in fast, the timing tells you everything about how seriously GSK is taking the fight.
MIT and Recursion just open-sourced an AI model that predicts drug binding as accurately as the gold standard, but 1,000 times faster. It could reshape how the entire industry screens for new medicines.
Tecartus just became the first CAR-T cell therapy to convert from accelerated to full FDA approval, backed by a 91% response rate in relapsed mantle cell lymphoma. It's a milestone for one drug and a proof of concept for the entire cell therapy field.
A Beijing biotech founded in 2022 just raised $250 million in four months, with AstraZeneca, sovereign wealth funds, and top-tier VCs all piling in. The bet: an AI platform that could crack the code on a "Goldilocks" class of drugs most pharma companies can't figure out.
Gilead's once-weekly HIV pill was supposed to be a game-changer. Instead, the drug combination started attacking the very immune cells it was designed to protect, forcing the company to kill the late-stage trial. The $20.8 billion HIV franchise will survive, but the setback raises hard questions about long-acting oral treatments.
The Trump administration just announced 100% tariffs on imported brand-name drugs, but the fine print tells a very different story. With 13 companies already cutting confidential deals and generics completely exempt, analysts say only 4.4% of pharma imports will actually face the full rate.
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