Emerging Company Profile: Seaport Therapeutics believes its technology can alter old drugs to remove their flaws. Just how closely can it follow the example set by Karuna?

PureTech’s gamble to take an older Eli Lilly drug off the shelf to redevelop in a new indication paid off. The company aims to replicate this 'Karuna model' in the near future.

More than 100 biopharma executives and experts told Scrip their predictions for therapeutic area advances in the coming year. The recent commercial success of GLP-1s in diabetes and obesity and their potential in further disease areas fuelled excitement around the metabolic space. Expectations were also positive in neurology following the launch of Leqembi for Alzheimer’s disease in 2023, while the multiple opportunities to improve cancer treatment kept oncology top of the pile overall.

Biotech entrepreneurs tend to be an optimistic group, and there were many pockets of hope for 2024. However, the consensus remains that depressed valuations and paucity of fresh funds will continue to pose a challenge for the sector, and companies will need to prioritize carefully and work even harder to demonstrate and create value.