#04 - Billion dollar deals & sports performance breakthroughs
The one minute biotech roundup.
🦤 Hullo, esteemed readers! Dodo is back, cosied up with a steaming cup of tea, and ready to fill you in on the Biotech news that occurred whilst Dodo was away.
This week, Cartesian Therapeutics sees their stock plummet, Eli Lilly forges a strategic partnership with Radionetics Oncology, while Samsung clinches its largest contract yet and celebrates another FDA approval.
Across the pond, in the old US of A, the Biosecure Act is stirring things up with calls for data security and supply chain resilience. And with the 2024 Olympics on the horizon, biotechnology is changing sports performance – though not without raising some ethical concerns.
Cheerio and thank you for reading,
Dodo
If there’s anything you’d like to see in future editions of Biotech Dodo, send us a message.
Discover 🔍
📉Cartesian Therapeutics plummets despite 'watershed moment' for CAR-T drugs (Investor’s Business Daily) – Cartesian Therapeutics' stock took quite a tumble this week, plummeting 35% despite a breakthrough with their autoimmune disease CAR-T treatment, Descartes-08. In the first placebo-controlled study of its kind, the phase 2 results showed 71% of patients with generalized myasthenia gravis demonstrated remarkable improvement, compared to just 25% on placebo.
Our take: This is quite the twist! Descartes-08, a new mRNA marvel, is on track to be the first chemo-free CAR-T therapy for autoimmune diseases – a true game-changer for myasthenia gravis. While the market may be flapping its wings, the absence of severe side effects like cytokine release syndrome looks encouraging.
🤝 Lilly inks Radiopharma deal with radionetics, secures right to buy biotech (BioSpace) – Eli Lilly has partnered with Radionetics Oncology, securing a promising pipeline of cancer radiotherapeutics and an exclusive option to buy the biotech for $1 billion in the future. The deal has a $140 million upfront payment and provides Lilly with access to novel GPCR targets.
Our take: Eli Lilly’s latest foray into radiopharma harnesses the precision of Radionetics’ GPCR-targeting radiopharmaceuticals for adrenocortical carcinoma. These clever molecules hone in on G-protein coupled receptors on cancer cells, delivering radiation right where it’s needed. This news comes hot on the heels of Lilly’s acquisition of Point Biopharma and their partnership with Aktis Oncology. Bravo, Lilly, bravo!
💸 Samsung’s biotech duo on a roll with $1.1 bn CMO order (The Korea Economic Daily) – Samsung Biologics has clinched its largest contract yet, a $1.06 billion case-management order deal with an undisclosed US company, pushing its projected 2024 revenue to $2.9 billion. Meanwhile, Samsung Bioepis has nabbed its seventh FDA approval for Pyzchiva – the biosimilar to J&J’s Stelara, for conditions such as plaque psoriasis and Crohn's disease.
Our take: This hefty deal underscores Samsung’s growing dominance in contract manufacturing, positioning it to rise to the top of global biosimilar companies and become South Korea’s largest drug maker in the sector. By offering cost-effective versions of blockbuster drugs, Samsung is enhancing patient access to essential treatments and making advanced healthcare more affordable.
🔐Rethinking pharma and biotech outsourcing: A call for data security and supply chain resilience (GenEngNews) – Across the pond in the US, the Biosecure Act is causing quite a flutter. This proposed legislation aims to limit US companies' reliance on certain Chinese firms for contract research. The ban could extend to institutions that receive funding from the NIH or other US government agencies, and could impact nearly all universities, research centers, hospitals and life sciences companies.
Our take: The Biosecure Act is a timely reminder to prioritise data security and fortify supply chains. Digital ownership of research could be the feather in the cap for the US – enhancing security, protecting intellectual property, and boosting efficiency in drug development, all while safeguarding national interests. This shift could not only stimulate US domestic economic growth and maintain quality control but also better prepare the country for crises.
And finally…
🦿Special Olympics: How is biotechnology revolutionizing sports performance worldwide? (Labiotech) – With the 2024 Olympic Games just around the corner, biotechnology in sports continues to divide fans and sceptics. Bonesupport has developed a nifty synthetic bone void filler, and 23andMe and DNAfit offer genetic profiling to help athletes understand their unique genetic predispositions and aid recovery. However, there are growing concerns about “gene doping”, similar to drug and blood doping, where athletes could misuse gene therapy to boost performance.
Our take: Rafael Nadal and Cristiano Ronaldo have reaped the benefits of stem cell treatments, yet gene doping continues to raise ethical concerns. The unregulated use of gene therapy could undermine sports by giving an unfair advantage, and the potential for misuse is substantial. Mark this Dodo’s words, the most sporting question will be: how do we regulate this in the future to maintain the integrity of competitive games?
Tune in 🎧
💬 A conversation with Mike Curtis, President and CEO of eGenesis, Between the Biotech Waves - Nessan Bermingham is back with a splendid episode featuring Mike Curtis, President and CEO of eGenesis. You may recall eGenesis making headlines in the New York Times for their groundbreaking achievement in xenotransplantation: the first successful transplantation of a genetically modified porcine kidney into a human.
💡The best biopharma M&A deals, Fierce Biotech - Ah, mergers and acquisitions, just one of the many thrills in the biotech world! In the latest episode, Annalee Armstrong and James Waldron explore the best and smartest acquisitions in recent years. From obesity treatments to radiopharmaceuticals, they share their thoughts on who truly snagged the best deal.
Apply ✍️
🧑💻Bioinformatics/Data Engineer, Immunocore – Fancy joining an innovation powerhouse? Immunocore is on the hunt for a Data Engineer with a knack for bioinformatics. You’ll be crafting algorithms, software tools and databases and ensuring their genomics, transcriptomics, and proteomics data sings.
🧬Head of Translational Biology, Laverock Therapeutics – Laverock Therapeutics is seeking a dynamic scientific leader to head their pioneering GEiGS gene silencing platform in oncology. The ideal candidate will hold a PhD with 10+ years of industry experience and will be responsible for driving strategy, leading a multidisciplinary team, and collaborating on groundbreaking research.
🧓Entry Level Research Associate, Proclinical – Fancy delving into the realm of healthy ageing research? Proclinical in London is seeking a curious and motivated recent graduate to synthesise the latest findings in healthspan and longevity and provide summaries to support leadership decisions.
RSVP 📆
It seems that the fledglings have flown the nest this summer and are having a well-earned break, which means Summer is all quiet on the event front. However, get in touch if you know of any upcoming biotech events that should be on our radar.
Got news, jobs or events you think are worth coo-ing over? Post an event here, or email us at biotechdodo@substack.com!
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