Astellas has won FDA approval for a geographic atrophy therapy that the company obtained from its acquisition of Iveric Bio. A Fierce Biotech report examined Singapore's biotech landscape 20 years into a nationwide initiative to become a biotech hub. AstraZeneca signed an mRNA vaccine manufacturing deal with China's CanSino Biologics. And more.
Astellas’ $5.9 billion acquisition of Iveric Bio has borne fruit. The FDA has approved Iveric’s geographic atrophy therapy Izervay. The nod came less than six months after Apellis’ Syfovre became the first FDA-approved therapy for the eye disease. Syfovre’s first-to-market edge was recently diminished by reports of severe side effects.
2. 20 years in, Singapore still searches for its biotech success story
In a new report, Fierce Biotech examined Singapore’s biotech ambition 20 years after a government-led push to become a biotech hub. Temasek-backed Tessa Therapeutics’ sudden dissolution inevitably weakened investors’ confidence in Singapore’s biotech industry, which also faces a talent shortage. But observers and stakeholders believe Singapore may still have a big biotech success story.
3. AstraZeneca pursues mRNA, signs vaccine manufacturing deal with China's CanSino
AstraZeneca signed an mRNA manufacturing deal with China’s CanSino Biologics. The Chinese company will help make certain vaccines by AZ during R&D. The deal comes a year after AZ axed an mRNA strategic partnership with Moderna in cardiovascular and oncology.
4. Daiichi Sankyo tipped to dominate antibody-drug conjugate market through 2029
With AstraZeneca-partnered Enhertu leading the way, Daiichi Sankyo will be the top antibody-drug conjugate player through 2029, GlobalData predicted. Sales from Daiichi’s ADCs will reach $10 billion by then, while Seagen and Roche will follow as distant second and third, respectively. In a recent update, Daiichi itself expects its oncology revenue could reach over $6.3 billion by its 2025 fiscal year.
5. Poseida sells $50M stake to Astellas, extending cash runway as gene therapy programs reviewed
SK Bioscience helps keep Novavax afloat, buying 7% stake in vaccine maker for $85M
In two cases where an Asian biopharma company bought stakes in a U.S. firm, SK Bioscience injected $85 million into floundering vaccine maker Novavax for a 7% holding, and Astellas put up $50 million in exchange for an 8.8% stake in Poseida Therapeutics and the right of first negotiation for P-MUC1C-ALLO1, a CAR-T cell therapy under development for solid tumors.
7. Takeda, Denali drop Alzheimer's asset after phase 1 peak reveals 'narrow therapeutic window'
Takeda and Denali Therapeutics have decided to stop developing their Alzheimer’s disease candidate TAK-920. Takeda signed up to co-develop the antibody transport vehicle back in 2021. But the drug soon hit an FDA clinical hold, and new phase 1 data suggested the drug was too toxic at a high dose. Takeda and Denali are now looking at back-up molecules.
8. Takeda shells out $42M to settle Medicaid fraud claims in Texas
Takeda has agreed to pay $42 million in Texas to resolve a whistleblower case that accused the company’s Shire unit of paying clinical nurse educators to refer and recommend ADHD drug Vyvanse to doctors in 2014 and 2015. Takeda denied the claims but said the deal is “in patients’ best interest.”
Other News of Note
9. Astellas plots new Cambridge facility for R&D, business development (Release)
10. BioNTech expands DualityBio pact to include 3rd ADC (Release)
11. Sunbird Bio snaps up Glympse Bio for protein-based diagnostics