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ByteDance AI drug spin-off Anew Labs secures $290m at $1.5bn valuation
ByteDance’s artificial-intelligence drug discovery spin-off Anew Labs has completed a $290 million external financing at a reported $1.5 billion valuation, attracting leading Chinese investment firms while leaving ByteDance with a controlling 56% stake.
Connect Biopharma cuts asthma treatment failures 66%, but endpoint misses significance
Connect Biopharma’s rademikibart reduced 28-day treatment failures by approximately 66% in a 160-patient Phase 2 acute-asthma study, but the primary endpoint missed statistical significance even as lung-function improvement reached significance and management prepares to discuss a Phase 3 programme with the FDA.
GSK agrees up to $750m Chimagen deal to deepen multiple myeloma pipeline
GSK is paying up to $750 million for a trispecific multiple myeloma asset, with early clinical data set to determine whether the deal creates value.
Jazz Pharmaceuticals closes $820m Actio Biosciences deal to deepen epilepsy pipeline
Jazz Pharmaceuticals buys Actio Biosciences for $820 million upfront, betting on ABS-1230 while early-stage clinical risk remains the key test.
Galderma’s Restylane Volyme study hits 94.4% response rate in China
Galderma Group AG has reported positive topline results from a 162-patient Chinese study of Restylane Volyme for moderate-to-severe temple hollowing, with 94.4% of treated patients meeting the primary responder definition at six months. The data could support another indication for a product already sold in China for mid-face volumization, strengthening Galderma’s attempt to expand its injectable aesthetics business in one of its strategically important international markets.
Legend Biotech names Ingrid Zhang CEO as CARVYKTI sales surge 50%
Legend Biotech Corporation has appointed former Novartis commercial executive Ingrid Zhang as chief executive after a seven-week leadership search, putting an experienced global medicines operator in charge as CARVYKTI sales accelerate and the cell therapy company tries to build its next growth engine.
Immutep shares surge 27% as efti strategy narrows after TACTI-004 failure
Immutep Limited is narrowing eftilagimod alfa development to two oncology settings and returning to 200-litre manufacturing after finding structural differences between the material used in failed Phase III TACTI-004 and earlier successful studies.
Gilead’s Trodelvy-Keytruda lung cancer combination misses Phase III endpoints despite higher response rate
Trodelvy plus Keytruda increased response rates and numerically lengthened progression-free survival in EVOKE-03, but the Phase III study failed its statistical endpoints and produced no overall survival advantage.
GSK’s $1.7bn Hansoh licence looks better after Ris-Rez delivers 18.5-month survival in Phase III lung cancer trial
Hansoh Pharmaceutical Group's risvutatug rezetecan produced median overall survival of 18.5 months against 10.3 months for topotecan, strengthening an asset for which GSK paid $185 million upfront and committed up to $1.525 billion in milestones.
Roche’s $570m MediLink bet gets Phase III validation as Tam-Peli cuts small-cell lung cancer death risk by 54%
MediLink Therapeutics' Tam-Peli improved median survival to 13.3 months from 9.4 months in relapsed small-cell lung cancer, giving Roche stronger clinical support for a programme that already carries $570 million of upfront and near-term economics.