Deal Watch: Novo Nordisk, Fauna To Explore Hibernation To Treat Obesity
A collaboration between Novo and Fauna will look at animal hibernation and genetic sequencing for hints toward novel therapies for obesity. Pfizer will use Insilico’s machine learning technology in target validation.
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Finance Watch: With Limited Fundraising Options, Biotechs Restructure To Extend Cash Runways
Mereo will reduce its headcount by 40% to focus on its lead programs while NeuBase revealed a 60% workforce reduction to extend its cash runway. Also, Invivyd (formerly Adagio), Greenlight and BioMarin announced job cuts, while Otonomy and others planned strategic shifts.
Finance Watch: Insilico Raises $255m To Take AI-Discovered Drugs Into The Clinic
Private Company Edition: Nine new venture capital mega-rounds include Insilico’s series C, $250m from Blackstone for a CAR-T therapy spinout from Intellia and a $210m series B round for Umoja.
Novo Nordisk Pays $1.80bn To Buy Emisphere
The Danish major will develop the US firm's technology and use it on current and future pipeline assets with the aim of making more biologics orally available.