Recent Funding:
Dayra Therapeutics (SF) Launches with $70M from Biogen and Versant to Develop Oral Macrocycles
Dayra Therapeutics emerged from stealth with a $50M upfront partnership from Biogen and $20M investment from Versant Ventures to develop oral macrocycle drugs for immune and inflammatory diseases. The company aims to create pill-based treatments that combine the precision of antibody drugs with the convenience of small molecules — a promising new class targeting chronic inflammatory conditions.
Profluent (SF) Raises $106M Led by Jeff Bezos’ Firm to Advance AI-Driven Biology
Profluent, an AI biotech startup building large language models for protein and gene-editing design, raised $106M led by Bezos Expeditions and Altimeter Capital, valuing the company near $1B. The funding will accelerate development of its AI-designed CRISPR systems and expand programmable biology applications across therapeutics, diagnostics, agriculture, and manufacturing.
Aspen Neuroscience (SD) Raises $115M Series C to Advance Personalized Parkinson’s Therapy
Aspen Neuroscience raised $115M—surpassing its $75M target—to fund late-stage development of ANPD001, its autologous cell therapy for Parkinson’s disease, with plans to begin Phase 3 trials in 2026. Backed by OrbiMed, ARCH, Frazier, and Gilead’s Kite, Aspen is also eyeing a 2026 IPO to support its commercial launch, positioning itself as a U.S. leader in personalized regenerative therapies.
Recent Layoffs:
Nurix Therapeutics (SF) Implements Targeted Layoffs Following Phase 2 Cancer Trial Launch
Nurix confirmed a small, targeted workforce reduction to align with strategic priorities but said no programs were cut or paused, following the launch of its Phase 2 DAYBreak trial for bexobrutideg, a BTK degrader for relapsed chronic lymphocytic leukemia. The biotech, which also partners with Gilead, Pfizer, and Sanofi, plans a Phase 3 trial in 2026 as it advances toward potential registration and commercialization of its lead cancer therapy.
M&A, Deals, Partnerships:
LTZ Therapeutics (SF) Partners with GSK in $50M Myeloid Cell Engager Deal
GSK will pay $50M upfront to collaborate with LTZ Therapeutics on up to four myeloid cell engager (MCE) programs for blood and solid cancers, expanding its growing oncology partnerships. The preclinical deal gives GSK global rights if licensed, following similar alliances between Lilly, Sanofi, Novartis, and Pfizer in the emerging MCE drug class aimed at safer, more targeted cancer treatments.
Gilead Sciences (SF) Acquires Sprint Bioscience’s TREX1 Cancer Program for $14M Upfront
Gilead acquired Sprint Bioscience’s TREX1-targeting cancer program for $14M upfront with potential milestone payments of up to $400M, expanding its oncology pipeline. The oral small-molecule therapy, which showed tumor reduction and improved immune response in preclinical studies, aims to enhance the effectiveness of immuno-oncology, radiotherapy, and chemotherapy treatments.
Freenome (SF) Expands Cancer Screening Partnership with Roche in $200M+ Global Deal
Roche secured exclusive international rights to Freenome’s multiomic blood-based cancer screening technology, investing $75M and committing to additional milestone and royalty payments that could exceed $200M total. The partnership will leverage Roche’s global diagnostics infrastructure and new sequencing-by-expansion (SBX) technology to develop cancer screening kits outside the U.S., while Freenome retains control of centralized lab testing and continues advancing its SimpleScreen CRC test domestically.
Other Interesting News:
Contineum Therapeutics (SD) Fails Midstage MS Trial for PIPE-307
Contineum’s PIPE-307, an oral M1 receptor antagonist partnered with Johnson & Johnson, failed to improve vision outcomes in a Phase 2 trial for relapsing-remitting multiple sclerosis, missing both primary and secondary efficacy goals. Despite the setback, PIPE-307 was well tolerated, and Contineum plans to share full data at a future conference while continuing development of its LPAR1 lung disease therapy PIPE-791, now seen as the company’s top priority.
Tempest Therapeutics (SF) Acquires CAR-T Programs from Factor Bioscience, Appoints New CEO
Tempest Therapeutics is acquiring four CAR-T programs from Factor Bioscience in an all-stock deal that will make Factor’s CEO Matt Angel, Ph.D., Tempest’s new chief executive, extending the company’s runway into mid-2027. The transaction adds programs targeting multiple myeloma, renal cell carcinoma, and rare blood disorders, while Tempest continues seeking partners to fund its liver cancer drug amezalpat and advance its Phase 2 NCI-backed colon disorder study next year.
Biogen (SF) Expands Immunology Footprint with HI-Bio Acquisition
Following its $1.15B acquisition of Human Immunology Biosciences (HI-Bio), Biogen has established a new West Coast Hub in South San Francisco led by Uptal Patel, M.D., marking a return to California and a renewed focus on immunology beyond its traditional neuroscience roots. The hub, now 120+ employees strong, is driving three Phase 3 trials for felzartamab, an anti-CD38 antibody targeting kidney diseases such as IgA nephropathy and antibody-mediated rejection, while also exploring next-gen subcutaneous antibody versions and new immunology programs.
Cytokinetics (SF) Nears FDA Decision for Heart Drug Aficamten
Cytokinetics is awaiting FDA approval by Dec. 26 for aficamten, a cardiac myosin inhibitor for obstructive hypertrophic cardiomyopathy (oHCM), after strong Phase 3 data showing improved exercise capacity versus placebo. The biotech plans to commercialize the drug independently in the U.S. and Europe, targeting a 120,000-patient market and expanding into non-obstructive HCM and heart failure indications, aiming to build a self-sustaining cardiovascular portfolio without Big Pharma backing.
