Original reporting and analysis on the stories shaping biotech.
A two-year-old biotech just posted psoriasis data that outshone AbbVie's $17.6 billion blockbuster Skyrizi, with the tantalizing promise of once-a-year dosing. The stock surged, Wall Street took notice, and the IL-23 market may never look the same.
Sun Pharma is paying nearly $12 billion for a company Wall Street valued at $8.50 a share. The deal transforms India's largest generics maker into a top-25 global pharma player, but it comes with $8.6 billion in inherited debt and some tricky trend lines.
For 40 years, glucagon was the ingredient that kept killing obesity drugs. Boehringer Ingelheim just proved everyone wrong with a Phase 3 result that nobody saw coming.
A Belgian startup just raised $125 million to develop drugs that Galapagos threw away. It's part of a growing trend where nimble biotechs raid big pharma's reject pile, and investors are lining up to fund the treasure hunt.
Astellas Pharma killed the gene therapy it paid $3 billion to acquire after four patient deaths and years of setbacks. Its replacement uses 100-fold lower doses and a smarter delivery system, but the real test is just beginning.
Two clinical-stage biotechs filed for IPOs on the same day, both targeting over $200 million. After a brutal drought that saw only 11 biotech listings in 2025, the twin filings may signal the public markets are finally warming up again.
Janux Therapeutics just axed its EGFR-targeted T-cell engager after disappointing Phase 1 results, joining a growing graveyard of solid tumor programs. The company still has a promising prostate cancer asset and an $800 million BMS deal, but the bigger question looms: can anyone crack the solid tumor code?
Novartis invented CAR-T therapy. Now, as rivals spend billions racing into the next generation of the technology, the company that started it all says it's just "continuing to evaluate." The clock is ticking on a shrinking list of acquisition targets.
Eli Lilly just committed $2.25 billion to a four-year-old startup that uses AI to invent gene-editing tools nature never dreamed of. The Profluent deal is Lilly's latest billion-dollar bet in a genetic medicine shopping spree that's reshaping its entire pipeline.
Intellia just became the first company to report Phase 3 data for an in vivo CRISPR therapy, and they're sprinting toward an FDA filing. If approved, it could turn gene editing from a lab curiosity into a one-shot cure you get at your doctor's office.
Eli Lilly is paying up to $2.3 billion for Ajax Therapeutics and its lead drug, a first-in-class JAK2 inhibitor that hasn't produced a single data point in humans. The science is genuinely novel, but the bet is enormous.
CAR-T therapies have conquered blood cancers but never beaten a solid tumor. Shanghai-based Oricell just raised $110 million to change that, armed with early liver cancer data that has serious investors lining up. If it works, it would be a historic first for cell therapy.
Gilead Sciences is paying up to $5 billion for a Munich startup most people have never heard of. The reason? A technology that could solve the biggest problem holding back cancer's hottest drug class.
Neurocrine Biosciences is dropping $2.9 billion to acquire Soleno Therapeutics and its first-of-its-kind drug for Prader-Willi syndrome. It's the company's biggest deal ever, and it's a bet that rare disease is the future of biotech growth.
UCB is paying up to $1.15 billion for Neurona Therapeutics and its brain cell therapy that cut seizures by 92% in early trials. It's one of the boldest bets yet that cell therapy can work far beyond cancer.
Filspari just became the first FDA-approved treatment for FSGS, a rare kidney disease that's been without an approved therapy forever. The twist? The pivotal trial technically missed its main goal. How Travere pulled off the approval anyway is a story worth reading.
Eli Lilly's new obesity pill Foundayo logged just 1,390 prescriptions in its first week, sending shares down 2% while rival Novo Nordisk climbed. But history says blockbuster drug launches almost never start with a bang, and the real test comes on April 30.
UK biotech raised over half a billion pounds in Q1 2026, with venture capital surging 17% quarter-over-quarter. But zero companies have gone public. The disconnect between a thriving private market and a dead IPO scene tells a bigger story about where British biotech is headed.
The AKT cancer pathway has crushed more drug developer dreams than any other target in oncology. Now Terremoto Biosciences just raised $108 million to try again, armed with a new chemistry trick and a CEO who already built a $5.8 billion company.
Generate Biomedicines just raised $400 million in the largest biotech IPO since 2024, betting that AI can design better drugs than humans. With a Phase 3 asthma program, a generative biology platform, and the Moderna-incubator Flagship Pioneering behind it, this is the biggest test yet of whether AI drug design can survive public markets.
Roche's new oral pill fenebrutinib cut MS relapses by up to 59% and matched its own blockbuster infusion in progressive disease. But a troubling death imbalance in clinical trials has analysts watching the FDA's next move closely.
The FDA and CMS just announced a new pathway that could compress the six-year wait between breakthrough device approval and Medicare coverage into roughly two months. If it works, it rewrites the playbook for every medtech company chasing reimbursement.
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