Recursion Pharmaceuticals has set terms for a major $306 million IPO as the artificial intelligence biotech eyes a $3 billion valuation.

A phase 2 clinical trial of an essential tremor (ET) drug candidate in development at Biogen and Sage Therapeutics has met its primary endpoint. The trial linked SAGE-324 to the hoped-for improvement on an upper limb tremor score, but the side effects proved to be intolerable to some patients.

Sanofi has paid $160 million upfront to buy a preclinical biotech that is using mRNA to reprogram immune cells inside the human body. The technology could enable patients to make their own CAR-T cells, eliminating the complex cell therapy supply chain while improving safety and dosing.

PARP inhibitors such as Merck and AstraZeneca’s Lynparza have changed the game for patients with ovarian cancer, but they’re still not a cure, as cancers can outsmart these drugs and develop resistance. Zentalis Pharmaceuticals is developing a WEE1 inhibitor that it hopes to combine with PARP inhibitors and other cancer medicines to boost their efficacy—and its early phase 1 data are promising.

Mutations in the genes KRAS and p53 have been tied to several tumor types, including pancreatic cancer. Scientists at the University of Texas MD Anderson Cancer Center say they have found a critical link between the two abnormal genes and tumor growth in pancreatic cancer—and they’re proposing a way to block it.

As a Democrat-led U.S. government is looking to once again up the pressure on drug pricing, a new report has shown biopharmas are in fact reinvesting more and more sales revenue into R&D.

After banking $72 million at the start of the year, Werewolf Therapeutics now wants an IPO.

Provention Bio has warned the approval of teplizumab in Type 1 diabetes is likely to be delayed by a request for more information from the FDA. The advisory committee meeting is still scheduled to go ahead late next month, but the July 2 PDUFA date is now under threat.

SVB Leerink has hired Jack Bannister from Goldman Sachs. In the new role, Bannister will “partner with healthcare and life sciences companies to raise capital and position them for success in the public markets.”

Maryland’s ValenzaBio reeled in a $70 million series A round that will propel a pair of monoclonal antibody programs toward the clinic. Those include a treatment for an autoimmune kidney disease, which is poised to start a phase 1b/2a study in the second quarter of this year, and a treatment for thyroid eye disease (TED) licensed from Pierre Fabre Medicament.