Recent Funding:
Actio Biosciences (SD) Raises $66M to Advance Rare Disease Programs
Actio secured a $66M Series B to advance two oral small molecule treatments for rare neurological diseases: CMT2C and KCNT1-related epilepsy. The company’s TRPV4 and KCNT1 inhibitors are in or entering early clinical trials, with plans to reach proof-of-concept data by 2026.
M&A, Deals, Partnerships:
Illumina (SD) Acquires SomaLogic for $350M to Expand into Proteomics
Illumina is buying SomaLogic to strengthen its presence in proteomics—tracking real-time protein activity to complement DNA sequencing. The deal follows a prior collaboration and reflects Illumina’s push to offer more complete biological insights through next-gen sequencing.
Other Interesting News:
FDA Acknowledges U.S. Falling Behind in Drug Development During Biotech Listening Tour
At a closed-door forum with over 100 biotech leaders, FDA officials admitted the U.S. is lagging behind China and Australia in launching early-phase drug trials. Proposed solutions include speeding up clinical trial review boards and leveraging AI and shared data to modernize the development process.
FDA Leadership Shake-Up May Impact Drug Review Pipeline
Jacqueline Corrigan-Curay, acting director of the FDA’s Center for Drug Evaluation and Research (CDER), is retiring in July after eight years, marking another major departure in a wave of senior exits. Her retirement adds to uncertainty at the FDA, where recent leadership changes could impact how new drugs—including biotech therapies—are reviewed and approved.
Exelixis (SF) Reports Positive Phase 3 Results in Colorectal Cancer Trial
Exelixis’ oral drug zanzalintinib, combined with Roche’s Tecentriq, showed improved overall survival in a Phase 3 trial for metastatic colorectal cancer—beating the current standard of care. While detailed results are pending, the news pushed Exelixis’ stock up 20%, and analysts project the drug could reach over $1.5B in peak annual sales if expanded to other cancers.
Cidara Therapeutics (SD) Nearly Doubles in Value After Flu Prevention Success
Cidara’s antiviral biologic CD388 showed strong protection against flu in a Phase 2 trial, reducing infection rates by over 75% with a single dose. The drug is not a vaccine but a long-acting antiviral designed for high-risk groups; a Phase 3 trial is planned for next year.
