The PD-1xVEGF research that Summit Therapeutics had been focusing on surprisingly missed the mark in the interim analysis. UCB will pay $2 billion upfront to acquire Candid Therapeutics, a group of Chinese assets. Johnson & Johnson has discontinued two CD20 CAR-T programs it had licensed from Chinese biotech company Avelzeta Pharma. moreover.
1. Summit’s PD-1xVEGF midterm exam failure surprises analysts and sends stock price down
To the dismay of investors, an interim analysis of the squamous epithelial cohort in Summit Therapeutics’ global Harmoni-3 trial of ivonocisimab in first-line non-small cell lung cancer clearly did not meet statistical significance for progression-free survival. As the trial progresses to final PFS analysis, analysts expressed concern that the results may indicate a decline in the benefit of PD-1xVEGF bispecificity from the Chinese study to the global study.
2. UCB offers $2 billion in straightforward acquisition to join Gilead in autoimmune space
UCB has agreed to acquire Candid Therapeutics for $2 billion up front, ahead of T Cell Engager Biotechnology’s planned reverse merger with RallyBio. Candid has grown rapidly, starting with a $370 million Series A round in 2024. The company has built a pipeline of licensed Chinese assets from EpimAb, Genor Biopharma, WuXi Biologics, Harbor BioMed, and others.
3. J&J realizes $5 billion CAR-T dream, months after touting highest efficacy within disease
Johnson & Johnson has discontinued the CD20 CAR-T and CD19xCD20 bispecific CAR-T it received from the American company Avelzeta Pharma (then called Cellular Biomedicine) in China. A major pharmaceutical company once said that CD20-based CAR-T programs could reach peak sales of more than $5 billion. Currently, the company cites the “evolving treatment status of large B-cell lymphoma” as the basis for selection.
4. “A collaborative effort between industry and government”: Strand Therapeutics CEO Jake Beecraft talks about FDA IND reform and China
Strand Therapeutics CEO Dr. Jake Beecraft argued in an interview with Fierce magazine that the United States needs to pursue goals such as reducing manufacturing requirements for early-stage clinical trials and modernize its regulatory framework to compete with China in biotechnology. He suggested that the United States risks losing further capabilities if it continues to rely on foreign countries to conduct first-in-human research.
5. GSK signs $1 billion deal with China’s SiranBio for oligonucleotides that could reduce abdominal fat
GSK is paying $55 million upfront to China’s SiranBio for an oligonucleotide candidate targeting activin receptor-like kinase 7 that has the potential to reduce abdominal fat while preserving lean body mass. The company plans to complete its Phase 1 trial before GSK takes over and is entitled to milestone payments of up to $1 billion.
6. CDMO Samsung Biologics estimates impact from ongoing union strike at $102 million
Unionized workers at South Korean CDMO Samsung Biologics begin strike
Thousands of workers from Samsung Biologics’ union went on strike last week, with South Korea’s CDMO estimating the financial impact to be around 150 billion Korean won ($102 million). The company is committed to maintaining security of supply and continues to consult with unions, a spokesperson said. The union is reportedly seeking an average 14% wage increase, among other demands.
Other notable news:
7. Takeda’s key clinical trial win improves convenience for PID patients compared to HyQvia
8. BioNTech cuts 1,860 jobs in major manufacturing exit, exits locations in Germany and Singapore
9. Windward wins $165 million to fuel long-term TSLP ambitions
10. Bipartisan Primate Act aims to ban monkey imports into the US
11. Banyan BioInnovations takes root in $100 million partnership with Icon
12. Olympus and EndoRobotics sign sales agreement for robot-assisted endoscopy technology
