Recent Funding:
A $50 million investment fund focused on advancing innovation in San Diego, particularly in early-stage life sciences companies, aligning with the Prebys Foundation’s mission in health, research, and innovation. Mike Krenn, CEO of Connect San Diego, will lead the fund. Krenn has raised over $800 million for the San Diego innovation ecosystem.
Recent Layoffs:
Encoded Therapeutics (SF) Cuts Workforce to Extend Cash Runway Through 2026
Encoded Therapeutics has laid off 29% of its workforce, primarily in early-stage research and technology, to sustain operations through Q3 2026. The move supports key milestones, including clinical progress for ETX101 (Dravet syndrome), an IND filing for ETX201 (Angelman syndrome) in 2026, and mid-2025 data readouts for chronic pain and Alzheimer’s programs.
IPOs:
Aardvark Therapeutics priced its IPO at $16 per share, raising approximately $94.2M, with trading set to begin on Nasdaq under the ticker “AARD.” Lead candidate ARD-101, an oral therapy targeting bitter taste receptors to suppress hunger, has entered Phase 3 for Prader-Willi Syndrome and is set for Phase 2 trials in hypothalamic obesity.
FDA Approvals:
GSK & Bavarian Nordic (U.S.) Secure FDA Approvals for Meningococcal & Chikungunya Vaccines
The FDA approved GSK’s Penmenvy for ages 10-25, covering meningococcal serogroups A, B, C, W, and Y, potentially simplifying adolescent vaccination schedules. Bavarian Nordic’s Vikmunya, a single-dose chikungunya vaccine, was also approved for ages 12 and above. These approvals come amid concerns over new HHS Secretary Robert F. Kennedy Jr.’s past vaccine skepticism, despite his claims of supporting vaccines in healthcare.
