Kaleido Biosciences, Inc.
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Latest From Kaleido Biosciences, Inc.
PureTech’s LYT-100 has failed to show benefit over placebo in long COVID, and raised doubts about how treatable the condition is – in contrast to the drug’s other potential use in idiopathic pulmonary fibrosis.
The neoantigen immunotherapy company is a casualty of slow R&D progress and a squeeze on biotech finance – and more firms are in the firing line.
After the boom of 2020 and 2021, the biotech sector is experiencing one of the deepest and longest downturns but there are hopes that catalysts could soon revive confidence.
Public Company Edition: Only nine drug developers went public in the US, raising $807m in the first quarter, versus 32 IPOs raising $5.2bn in Q1 of last year. Also, MoonLake closed its SPAC merger, Sanofi priced €650m in sustainability-linked bonds in €1.5bn note sale, and Kaleido will cease operations.
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