Few biotech pivots are as jarring as Genenta’s latest move.
The Milan-based company, which went public in late 2021 on the promise of a novel cell-based gene therapy platform, is now effectively abandoning the single-asset biotech playbook. Instead, it wants to become something far closer to a holding company for defense, aerospace, cybersecurity, and national-security assets, starting with a manufacturer of tactical rifles.
Eli Lilly, the US market leader in the lucrative diabetes and obesity space, is now challenging its competitor Novo Nordisk in the area of oral GLP-1 receptor agonists. Lilly’s orforglipron has met the primary endpoint of its registration study and is set to be submitted for approval in the United States.
Finnish Solar Foods Oy has started microbial production of its protein powder Solein in Factory 01, Solar Foods’ first commercial-scale production facility in Vantaa, Finland.
Despite the recent stock market rally and declining volatility, IPOs are rather rare in many industrialised countries –not least for seasonal reasons. The main reason for this, however, is the aggressive monetary policy of the central banks, with more than ten interest rate hikes in both Europe and the US.
New figures published by the industry association European Bioplastics suggest a sharp increase in the production of sustainable plastics in the next two years and calls for policy support.
Healthcare has long been considered one of the most reliable defensive sectors – an effective portfolio buffer when equity markets turn volatile. That’s because hospitals, drug makers, medical device firms and other companies across the healthcare sector benefit from steady consumer demand – still true?
Adobe stock photos - Jim
Sphene Capital