M&A, Deals, Partnerships:
Juri Biosciences, a TCG Labs Soleil portfolio company, has secured exclusive global rights to EpimAb’s T-cell engager targeting KLK2 for metastatic prostate cancer, with the potential for up to $210 million in payments. The partnership taps into the expertise of Dr. Charles Sawyers, a renowned oncologist, to guide the development of KLK2-directed therapies, aiming to provide more targeted treatments for prostate cancer.
SiteOne Therapeutics (SF) Acquired by Eli Lilly for Up to $1B
Eli Lilly has acquired SiteOne Therapeutics for up to $1 billion, adding the biotech’s Nav1.8 inhibitor for pain to its growing non-opioid pain pipeline. The acquisition strengthens Lilly’s commitment to advancing non-addictive pain therapies, following the biotech’s recent Series C funding and its work rooted in Stanford University research.
Sanofi Completes Acquisition of DR-0201 from Dren Bio (SF) for $600M
Sanofi has finalized the acquisition of DR-0201, a bispecific myeloid cell engager now named SAR448501, aimed at treating autoimmune diseases by inducing B-cell depletion, with a $600 million upfront payment and up to $1.3 billion in milestone payments. The drug shows potential for sustained treatment-free remission in patients with autoimmune diseases like lupus, addressing significant unmet needs in the field.
Recent Layoffs:
Boundless Bio (SD) Announces Portfolio Prioritization and Runway Extension
Boundless Bio is streamlining its portfolio, focusing on a novel combination therapy of BBI-355 and BBI-825, as well as advancing its Kinesin program with the development candidate BBI-940. The company has extended its operating runway into 2028, allowing for proof-of-concept clinical milestones for these programs with current capital, despite reducing its workforce by a third.
Other Interesting News:
FDA Employee Layoffs Face Legal and Administrative Delays, Leaving Thousands in Limbo
Thousands of FDA employees, including lawyers, have been placed on administrative leave due to significant staffing cuts announced by the Trump administration, leaving them in limbo as they seek new jobs while still receiving full pay. Legal battles, including a recent district court ruling, have delayed the final termination process, with some employees expressing frustration at being paid but not allowed to work.
Biopharma Outlook for the Second Half of 2025: Navigating Uncertainty and Seizing Opportunities
Biopharma enters the second half of 2025 amid uncertainty, with concerns over pharmaceutical tariffs, drug pricing policies, and a lackluster IPO market, which have contributed to a 10% decline in the $XBI index year-to-date. Key industry conferences (Jefferies and Goldman Sachs) in June will be critical for insights into dealmaking strategies, with executives under pressure to navigate the tough funding environment and potential acquisition opportunities.
