Company
Novartis is a Swiss multinational pharmaceutical company developing and marketing prescription drugs and therapies across multiple disease areas worldwide.
Alphabet's Isomorphic Labs is in funding talks at a $40 billion valuation. Crypto Briefing put its prior mark near $17.5 billion, so the ask more than doubles the price of a drug designer that has yet to dose a patient.
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Novartis says it saw evidence of clinical activity in secondary and exploratory analyses it has not disclosed, while the drug missed its primary endpoint, an expert-rated video timing of hand opening. Shares fell 11% in Zurich.
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Telix is buying privately held ITM in a merger STAT puts at a minimum of $1.65 billion, with another $700 million payable only if ITM's lead drug clears regulators and meets sales goals. STAT says the deal follows a surprise FDA rejection.
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Life sciences head Eric Kauderer-Abrams confirmed the lab in a Reuters account, describing the split between in-house work and outside partners as ordinary biotech practice, while a spokesperson said the site is not there to discover drugs.
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Artisan Partners' David Samra is telling Novartis's chairman to rebuild the team that does its deals, after a week of three Phase III setbacks in which one of the drugs actually met its primary endpoint.
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MassBio's annual snapshot pairs a recovering VC, IPO and M&A market with a 39% fall in seed capital, a 6% drop in NIH awards and 3,605 lost jobs.
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