Recent Funding:
Perceive Pharma, a spinout from Perceive Biotherapeutics, secured $15M in Series A funding from Deerfield Management, J&J Innovation, GV, and others to develop small-molecule neuroprotective treatments for glaucoma and additional diseases. Lead candidate PBI-671 aims to address glaucoma-related vision loss beyond intraocular pressure reduction, with Series A proceeds advancing preclinical development.
Latigo Biotherapeutics (LA) Eyes Up to $150 Million Raise Following Vertex’s FDA Approval
Latigo Biotherapeutics is targeting up to $150 million in funding, with $50 million raised so far, following Vertex Pharmaceuticals’ recent FDA approval of its non-opioid pain drug. The company is advancing its pipeline, including LTG-001 in Phase 2 for acute dental pain and LTG-305 in Phase 1, while planning to leverage the momentum created by Vertex’s approval to differentiate its treatments.
Recent Layoffs:
Mass Layoffs at U.S. Health Agencies Raise Concerns Over Biomedical and Regulatory Impact
The Trump administration has enacted mass layoffs across U.S. health agencies, with reports indicating up to 5,000 staff cuts at the Department of Health and Human Services (HHS), affecting the FDA, CDC, and NIH. The exact breakdown remains unclear. Layoffs at the FDA could disrupt regulatory oversight of drugs and medical devices, with at least 230 employees from the medical device division impacted. A new executive order limiting future federal hiring (one new hire per four departures) may further strain staffing and regulatory capacity. Industry experts and former officials warn that the cuts could harm drug development timelines, disease monitoring, and public health initiatives, with concerns that the loss of early-career FDA staff will erode institutional knowledge over time.
M&A, Deals, Partnerships
ACELYRIN (LA) Confirms Receipt of Unsolicited Indication of Interest from Concentra Biosciences (SD)
ACELYRIN received an unsolicited offer from Concentra Biosciences to acquire all outstanding shares for $3.00 per share in cash, plus a contingent value right tied to proceeds from any out-license or sale of ACELYRIN’s development programs. ACELYRIN is still moving forward with its merger agreement with Alumis, expected to close in Q2 2025, subject to stockholder approval.
Incyte (NC) Partners with Genesis Therapeutics (SF) for AI-Driven Small Molecule Drug Discovery
Incyte has paid Genesis Therapeutics $30 million upfront to use their GEMS AI platform to discover small molecules for severe diseases, focusing initially on two undisclosed targets. The deal could be worth up to $295 million per target in milestones, with potential for additional targets and royalties, as Incyte looks to incorporate new technologies into its pipeline.
FDA Approvals:
Mirum Pharmaceuticals (SF) Secures FDA Approval for CTX Treatment
Ctexli, a thrice-daily pill, is the first FDA-approved treatment for cerebrotendinous xanthomatosis (CTX), a rare genetic metabolic disorder. Approval was based on a Phase 3 trial that showed statistically significant reductions in disease-related cholesterol metabolites; includes a liver toxicity warning.
Other Interesting News:
BridgeBio Pharma (SF) Reports Strong Early Demand for Newly Approved ATTR-CM Drug
Since its November 2024 FDA approval, BridgeBio’s ATTR-CM drug, Attruby, has generated over 1,000 prescriptions from 516 physicians, with net sales reaching $2.9M by year-end. Analysts are optimistic about Attruby’s performance against Pfizer’s tafamidis, as early prescription numbers surpassed expectations, positioning BridgeBio for strong 2025 sales.
Atomwise (SF) Brings in New CEO to Push AI-Designed Small Molecules Toward the Clinic
AI-driven biotech Atomwise, known for its AtomNet drug discovery platform, has hired Steve Worland as CEO to advance its TYK2 inhibitor, now in IND-enabling studies. Despite securing $45M in Series C funding in 2024, Atomwise lags behind competitors in clinical progress but aims to differentiate by designing novel small molecules beyond traditional chemotypes.
