Swedish biotech BioArctic has lost a partnership with Swiss drugmaker Novartis to develop a potential treatment for neurodegenerative diseases using its BrainTransporter technology. The termination eliminates the prospect of up to $772 million (€691 million) in additional payments, although BioArctic retains the $30 million (€27 million) upfront payment.
Denmark-based BioInnovation Institute (BII) is expanding its European CardioMetabolic Bridge to Munich and Berlin. Backed by up to DKK 450 million (around €60 million) from the Novo Nordisk Foundation, the initiative aims to accelerate the translation of academic research into metabolic and cardiovascular diseases into drug development and biotech companies. Following the establishment of an innovation hub in London, the two German locations are its next European sites. Laboratory infrastructure is planned, but details will not be finalized for several months.
AstraZeneca is cutting costs and early cancer programs, while Ayrmid is pursuing another struggling U.S. drugmaker. This week’s six updates also include a Huntington’s gene therapy review, mixed MS data and new plans for vaccines and hypertension treatment.
Fresenius has secured options on 37 biosimilars from WuXi Biologics, significantly expanding its biopharma ambitions through a development agreement. The deal comes as numerous high-selling biologics approach the end of their patent protection and biosimilars could become an important tool for health care systems to contain costs. Fresenius aims to double its biosimilar revenue to nearly €2 billion, bringing Sandoz’s league at least within sight.
Swedish biotech Alligator Bioscience has agreed to sell its CD40-targeting cancer immunotherapy mitazalimab to Canadian drug developer Biossil for $750,000 (€670,000) upfront, with up to $108 million (€97 million) in contingent milestones and additional royalties. The deal follows Alligator’s decision in July to discontinue independent development of the drug and concentrate its resources on another oncology program.
Should a biotech hand its molecule to a single integrated partner, or build a network of specialists around it? Manufacturers and clinical providers are answering in both directions at once: some are adding capabilities and integrating more of the development chain, while others are narrowing their focus and relying on specialist partners. Whichever it picks, the biotech answers for what happens between its suppliers.
Denmark’s Genmab said adding its bispecific antibody petosemtamab to MSD’s Keytruda (pembrolizumab) cut the risk of death by 50% versus Keytruda alone in a Phase 3 trial in first-line, PD-L1-positive recurrent or metastatic head and neck cancer. The interim result is the first randomized evidence for the lead asset of Genmab’s $8 billion takeover of Dutch biotech Merus last year.
From Berlin biotech NOXXON through a strategic realignment and considerations of cryptocurrency investments, and now back to drug development: TME Pharma has found a potential partner for its lead drug candidate NOX-A12 in Japanese biotech company TMS. For now, however, the companies are only entering exclusive negotiations. Whether these will actually lead to funded clinical development remains uncertain.
Swiss DARPin specialist Molecular Partners is shifting its entire focus to radiopharmaceuticals and plans to cut up to 55 jobs. According to the company, its cash reserves will last until the end of 2027. But behind the strategic overhaul lies an increasingly strained financial position. Its broad pipeline is likely to require much stricter prioritization.
Every Friday, The Leadership Edit follows people taking new roles across European biotech and what their moves may tell us about the companies they join. This week: two CEO transitions, three medical appointments and a finance hire at a young French biotech.