Recent Funding:
Link Cell Therapies (SF) Launches with $60M to Advance Next-Gen CAR-T for Solid Tumors
The Stanford spinout raised $60M in Series A led by J&J’s venture arm, with backing from Samsara BioCapital and Sheatree Capital, plus Bristol Myers Squibb and Kyowa Kirin, among others – to develop logic-gated CAR-T therapies that selectively attack tumors while sparing healthy tissue. Its lead program, LNK001, targets renal cell carcinoma, with Phase 1 trials expected next year, followed by a colorectal cancer program slated for 2027.
Chai Discovery (SF) Reaches $1.3B Valuation with $130M Series B for AI Protein Design
The AI-driven biotech raised $130M at a $1.3B valuation to advance its platform for designing new proteins from scratch, backed by Oak HC/FT, General Catalyst, Thrive Capital, OpenAI, Dimension Capital and others. Chai plans to use the funding to expand its molecular design software and commercialization efforts, positioning itself as a leader in AI-powered drug creation.
Prolynx (SF) Raises $70M Series A to Develop Long-Acting Obesity Drugs
Co-led by 5AM Ventures and OrbiMed, Prolynx will advance its once-monthly semaglutide program using hydrogel microsphere technology that slowly releases the drug. Led by former Amgen obesity exec Chris Boulton, the biotech aims to develop longer-acting GLP-1, dual agonist, and amylin therapies as patents for current blockbusters approach expiration.
BlossomHill Therapeutics (SD) Raises $84M Series B Extension to Compete with AstraZeneca’s Tagrisso
The biotech secured $84M in new funding, bringing its total to $257M, to advance two cancer drugs — a mutant-selective EGFR inhibitor for lung cancer and a CLK inhibitor for leukemia. BlossomHill aims to challenge AstraZeneca’s $6.6B Tagrisso franchise with next-gen macrocyclic compounds that blend the strengths of antibodies and small molecules.
M&A, Deals, Partnerships:
Dren Bio (SF) Lands $100M Sanofi Deal for Next-Gen Autoimmune Therapy
Sanofi is paying $100M upfront and up to $1.7B in milestones for Dren Bio’s new B cell–depleting drug targeting autoimmune diseases, marking their second major collaboration this year. The deal gives Dren the option to co-fund and co-promote in the U.S., expanding its path toward becoming a fully integrated biopharma with three global pharma partners now onboard.
Arthrosi Therapeutics (SD) Acquired by Sobi in $950M Deal to Advance Gout Drug
Swedish pharma Sobi will acquire Arthrosi Therapeutics for $950M upfront plus up to $550M in milestones, adding its Phase 3 URAT1 inhibitor pozdeutinurad for gout. The deal positions Sobi against fellow San Diego biotech Crystalys Therapeutics, both developing next-gen URAT1 therapies aimed at reducing uric acid buildup that causes painful gout flares.
Other Interesting News:
Gilead Sciences (SF) Reports Phase 3 Success for New HIV Combo Therapy
Gilead’s new bictegravir + lenacapavir (bic/len) regimen matched the efficacy of its blockbuster Biktarvy in two Phase 3 studies, setting up a potential FDA submission. The combo aims to simplify HIV treatment using a long-acting component, reinforcing Gilead’s dominance in the $13B HIV market.
Kyverna’s miv-cel therapy improved mobility by 46% in a Phase 2 trial for stiff person syndrome, with 8 of 12 patients no longer needing walking aids after treatment. The company plans to seek FDA approval in 2025, positioning miv-cel as the first commercial CAR-T for an autoimmune disease and a potential launchpad into larger indications like myasthenia gravis.
Arcus Biosciences (SF) Ends TIGIT Program After Phase 3 Failure, Refocuses Pipeline
Arcus and Gilead’s anti-TIGIT antibody domvanalimab failed to improve survival in a Phase 3 gastric and esophageal cancer trial, leading both companies to discontinue multiple studies. Arcus will now shift focus to its HIF-2α inhibitor casdatifan and small-molecule inflammatory and autoimmune programs, while awaiting Phase 3 results for CD73 inhibitor quemliclustat in pancreatic cancer by 2027.
Rezolute (SF) Plunges 87% After Phase 3 Failure in Rare Disease Trial
Rezolute’s monoclonal antibody ersodetug failed to meet its primary and secondary endpoints in a Phase 3 study for congenital hyperinsulinism (HI), showing no significant benefit over placebo. The setback casts doubt on near-term approval plans, though the company will consult with the FDA and continue evaluating ersodetug in tumor-related HI as it reassesses next steps.
GRI Bio (SD) Posts Encouraging Phase 2a Data for Oral IPF Drug GRI-0621
GRI-0621, an oral therapy targeting invariant natural killer T-cell activity, showed no safety concerns and early signs of fibrosis resolution in a Phase 2a trial for idiopathic pulmonary fibrosis (IPF). The drug improved lung function (FVC) in 39% of treated patients versus 20% on placebo, supporting further development as a potentially safer, disease-modifying alternative to existing IPF treatments.
