Recent Funding:
Attovia will use the funds to advance ATTO-1310 (anti-IL31 biologic) and ATTO-3712 (bispecific anti-IL13 x IL31) through clinical proof-of-concept for chronic pruritus and atopic dermatitis. The financing also supports expansion of its ATTOBODY-based multi-specific biologics pipeline for immune-mediated diseases like IBD.
Glycomine (SF) Raises $115M Series C to Advance Rare Disease Therapy for PMM2-CDG
The round will fund a randomized Phase 2b trial for GLM101, Glycomine’s lead therapy targeting PMM2-CDG, a rare and untreatable congenital disorder affecting glycosylation. Backers include CTI Life Sciences, Abrdn, Advent Life Sciences, Novo Holdings, Sanofi Ventures, and Abingworth, bringing total funding to $195M.
M&A, Deals, Partnerships:
BigHat Biosciences (SF) Expands Series B to $120M+ with Eli Lilly Partnership
BigHat secured a new antibody R&D partnership with Eli Lilly, while Lilly joined its expanded Series B round alongside Merck GHI Fund, Samsung Ventures, and others. The startup, focused on AI-driven antibody design and complex modalities like ADCs and T cell engagers, plans to enter the clinic in 2026.
GeneDx (CT) to Acquire Fabric Genomics (SF) for Up to $51M to Accelerate Genetic Disease Diagnoses
The deal combines GeneDx’s rare disease dataset with Fabric’s genomic interpretation tools, aiming to improve speed and flexibility of diagnoses for health systems. Fabric Genomics will remain operationally independent post-acquisition, with GeneDx providing commercial support domestically and abroad.
Other Interesting News:
Trump Administration’s Draft Budget Proposes 18.6% FDA Cut, 40% NIH Reduction
A leaked draft shows the Trump administration aims to slash FDA’s budget authority by 18.6%, down to $2.9B, with no proposed funding for facilities or pay increases; NIH would see a 40% cut. User fees are expected to stay in place to support premarket reviews, but experts warn the loss of congressional funding could severely impact agency operations and early-stage scientific research.
Trump Executive Order Targets ‘Pill Penalty,’ Signals Industry-Friendly Shift on Drug Pricing
President Trump directed HHS to work with Congress to align Medicare price negotiation timelines for small molecule drugs and biologics, addressing what the industry calls a “pill penalty” that currently gives biologics 4 extra years before negotiation eligibility. The order includes broader drug pricing reforms like reducing senior costs, increasing import competition, and reviewing pharmacy benefit managers—moves seen as favorable to biopharma innovation but with uncertain implementation paths.
Early-Stage Biotechs Face Steep Funding Declines as Investor Caution Grows
Biotech startups like Port Therapeutics are struggling to raise beyond seed, as investors shift focus to fewer, later-stage companies and prioritize de-risked assets. Q1 2025 saw the lowest number of first financings in a decade, with just 55 U.S. biopharmas securing seed or Series A funding—pointing to a cautious yet focused investment climate.
Gilead Sciences (SF) Reports Positive Phase 3 Results for Trodelvy + Keytruda in 1L mTNBC
Gilead’s Trodelvy combined with Merck’s Keytruda showed statistically significant improvement in progression-free survival compared to standard of care in PD-L1+ metastatic triple-negative breast cancer patients. Early trends also indicate potential overall survival benefit; results support Trodelvy’s expansion into earlier lines of treatment and additional Phase 3 trials are underway across breast, lung, and gynecological cancers.
