Valneva has added to its growing arsenal of vaccines by handing over 10 million euros ($10.7 million) upfront to LimmaTech for the global license to a Shigella candidate that once formed part of a GSK partnership.

Otsuka Pharmaceutical has picked up Boston-based Jnana Therapeutics for $800 million so the Japanese biotech can get its hands on a clinical-stage oral phenylketonuria (PKU) drug.

OS Therapies will list on the NYSE American stock exchange this morning via a $6.4 million IPO that the biotech will use to push forward with its immunotherapy and antibody-drug conjugate plans.

Since its passage in August 2022, the Inflation Reduction Act (IRA) has attracted criticism and even derision from biopharma leaders because it gives Medicare the ability to negotiate drug prices. The possibility of lowered revenues and less money to put into R&D led some attendees at the 2023 American Society of Clinical Oncology and BIO International Convention meetings to dub the bill the “Innovation Reduction Act.”

We already know that Takeda is hoping to find a path to the FDA for epilepsy medicine soticlestat despite a phase 3 miss but the Japanese pharma has now revealed that the clinical trial failure will cost the company about $140 million.

Ideaya Biosciences is betting $400 million in biobucks that a bispecific antibody-drug conjugate (ADC) can turbocharge the effect of its DNA damage repair molecules. The West Coast biotech dangled the cash to secure an option on a preclinical program in development at Biocytogen.

Immunology biotech VBI Vaccines is veering dangerously close to the point of no return, with plans to file for bankruptcy and sell off its assets.

Tracon Pharmaceuticals has decided to wind down operations weeks after an injectable immune checkpoint inhibitor that was licensed from China flunked a pivotal trial in a rare cancer.

FibroGen is radically restructuring its business, laying off 75% of its U.S. staff and stopping investment in its lead candidate in response to the failure of two late-phase pancreatic cancer clinical trials.

Verily is leaving California for Texan climes. After previously establishing an outpost in Dallas in late 2021, Google’s life science-focused sister company will now move its corporate headquarters to the Lone Star State from South San Francisco.