BIO International Convention Coverage

Private Company Edition: Scrip spoke with the leaders of Gateway Labs and Cure at the BIO International Convention about their mini ecosystems. Also, radiopharmaceutical firm ITM raised €188m ($201.9m), Santa Ana Bio emerged with $168m and Alzheon’s series E totaled $100m.

There is a lot of structural change going on at the German major but it is learning from the way its wholly owned subsidiaries such as AskBio and BlueRock are run.

With the urea cycle disorder treatment Olpruva launched and the NPC therapy arimoclomol closing in on US approval, Zevra is one to watch in the rare disease space.

Investors, advisors and companies that have raised cash recently insist funding is available and IPOs are possible for drug developers that can clearly outline future clinical milestones.

The France-based mid-sized drugmaker has solidified its pipeline through several external pacts in the past few years and its dealmaking is showing no signs of slowing down.

Insights from Day Four of the BIO International Convention include FDA commissioner Califf on the state of real-world evidence and how it impacts IRA negotiations, Roche's interest in cardiovascular/metabolic assets, Merck's plans in immunology, and industry's rising interest in neuropsychiatry. 

Insights from Day Three of the BIO International Convention in San Diego include Amgen CEO Bob Bradway taking aim at the "Innovation Reduction Act," Novo Nordisk's business development head talking about spending its semaglutide bounty, Roivant's long view on BD prospects for Immunovant's FcRn inhibitor, and more regulatory concerns around artificial intelligence. 

Insights from Day Two of the BIO International Convention in San Diego include the evolving pros and cons of partnering, user fees potentially supporting the FDA's AI ambitions, and J&J's view on dealmaking in 2024.

Insights from the first day of the international convention in San Diego also includes interviews on Alzheimer’s investments, dealmaking for mid-sized companies and reflections on the virtues of lean thinking.

In its Beyond Borders 2024 report, coinciding with the start of the BIO meeting, EY analysts see declining revenues for big pharma, which could be addressed by M&A, if the right takeouts exist.

Biotechs are ready to partner or sell assets to raise cash while turmoil continues in the financial markets, but they are doing so at lower valuations, with IRA and FTC concerns putting further pressure on deal terms.

Raising money will be difficult for the foreseeable future, so every part of the ecosystem from start-ups to public companies to VC firms is figuring out how to survive until cash is easily accessible again.

Countries from all over the world were plying their wares as desirable biotech clusters at the recent BIO meeting in Boston and Northern Ireland made a strong case for its potential as a prime location for life sciences starts-ups.

With Korea accounting for the second-highest number of attendees after the US this year, the BIO International Convention was crowded with biopharma firms from the country looking for partnerships. PharmAbcine CEO Jin-San Yoo shared his experience of the event and provides updates on key R&D programs including a unique TIE2 agonist antibody.

Monika Vnuk, head of Sanofi’s business development, tells Scrip that the best candidates are still commanding very high prices and outside inflammation and immunology, the French drugmaker is on the look-out for clinical rather than very early-stage assets.

Recently appointed head of corporate development in an ongoing leadership shakeup, Keeney is helping to shape Biogen’s sustainable growth strategy in neuroscience and beyond.