Recent Funding:
Vivo Capital (SF) Closes $740M Public Fund to Back Clinical-Stage Biotechs
The third cycle of the Vivo Opportunity Fund will target small- and mid-cap life sciences companies, aiming to capture value around clinical milestones and regulatory approvals. Previous Vivo-backed companies include Soleno, RayzeBio, Chinook, and Sierra Oncology, with several achieving FDA approvals or acquisitions by global pharma.
Sirius Therapeutics (SD) Raises $50M to Advance siRNA Therapies for Cardiometabolic Disease
The Series B2 financing, led by a corporate VC and joined by BioTrack, OrbiMed, and others, will support Phase 2 trials of Sirius’ siRNA anticoagulant SRSD107 and two other clinical-stage programs. Sirius is advancing RNA therapies across the U.S., EU, and China, with regulatory approvals in place for early-stage trials in hyperlipoproteinemia and dyslipidemia.
NewLimit (SF) Raises $130M Series B to Advance Epigenetic Anti-Aging Therapies
Backed by Coinbase CEO Brian Armstrong and led by Kleiner Perkins, the funding will support IND-enabling studies for liver-targeted therapeutics using partial cellular reprogramming. NewLimit has identified 100+ transcription factor combinations that reduce cell age without changing identity, accelerating progress toward clinical testing of mRNA-based drugs.
Recent Layoffs:
NGM Biopharmaceuticals (SF) Cuts 75% of Workforce to Refocus Pipeline on GDF15 Inhibitor
NGM is laying off 85 employees, pausing development of its Phase 2 liver disease asset aldafermin, and halting discovery work to prioritize NGM120 for hyperemesis gravidarum and cancer cachexia. CEO David Woodhouse is stepping down, with VP Diana Peng Bockus taking over as the company narrows focus to late-stage clinical development following prior layoffs and asset offloading.
Insitro (SF) Cuts 22% of Workforce to Extend Runway Through 2027
The AI-driven biotech is reducing headcount by 22% (~60 employees) to focus on its six most advanced pipeline programs across metabolic and neuroscience indications. The move aims to ensure clinic readiness by 2026 and preserve resources for continued investment in its machine learning–powered drug discovery platform.
IGM Biosciences (SF) Lays Off 80% of Staff After Sanofi Terminates $6B Antibody Deal
Sanofi ended its multi-target IgM antibody collaboration with IGM, prompting the biotech to cut most of its remaining workforce and shutter key facilities. IGM, now with no active pipeline, is evaluating strategic alternatives as its market cap falls below cash-on-hand and investor pressure mounts.
10x Genomics (SF) Cuts 8% of Global Workforce Amid Research Funding Uncertainty
The company cited instability in U.S. academic and government funding—historically a key revenue driver—as a major factor in declining instrument sales and Q1 revenue. CEO Serge Saxonov pointed to “unpredictable customer behavior,” while Trump’s proposed grant cost caps have further pressured the stock, which is down ~40% in six months.
Other Interesting News:
Trump Administration Revives “Most Favored Nation” Drug Pricing Policy
A new executive order seeks to peg U.S. drug prices to lower prices paid in Europe and other wealthy nations, bypassing Congress. Industry groups and lawmakers predict major legal challenges and warn of potential fallout for U.S. drug innovation and biopharma investment.
Gilead (SF) Commits $11B in New U.S. Manufacturing and R&D Investments Amid Tariff Threats
Gilead will invest an additional $11B in U.S.-based capital, tech, and R&D projects by 2030, creating 800 jobs and supporting 2,200 more indirectly through new and upgraded facilities. The move signals alignment with federal pressure as Trump pushes tariffs and regulatory reform; Gilead joins other drugmakers pledging over $180B to bolster domestic manufacturing.
Illumina (SD) Expected to See SEC Drop Probe Into $8B Grail Acquisition
The SEC is reportedly ending its investigation into Illumina’s 2021 acquisition of Grail, which examined management conduct and sales forecasts tied to the $8B deal. The move follows Illumina’s 2023 divestiture of Grail and comes amid broader federal agency restructuring and reduced enforcement activity under the Trump administration.
