Recent Layoffs:
Genentech (SF) to Cut 103 Jobs at South San Francisco Headquarters
The Roche subsidiary filed a WARN notice for cuts effective July 29 across several business functions, not just the previously-disclosed Research and Early Development (gRED) reorganization. This is Genentech’s latest round in a rough year, bringing its total California layoffs to nearly 350 since January.
M&A, Deals, Partnerships:
Vidya, founded by former Gossamer Bio CEO Sheila Gujrathi, reverse-merges into Nasdaq-listed Processa via an all-stock deal plus a $200M private placement backed by Bain Capital Life Sciences and RA Capital. The deal secures oral BTK inhibitor VT-7208 — pitched as a rival to Novartis’s Rhapsido — with Phase 2 studies in food allergy and chronic hives planned for later this year.
IPOs:
Braveheart Bio (SF) Sets Terms for $275M IPO to Fund Heart Drug Rivaling Camzyos
Braveheart plans to sell 18.7M shares at $15-17, expecting roughly $274.5M in net proceeds at the midpoint, enough to fund operations into 2029. $90M is earmarked for Phase 3 of oral cardiac myosin inhibitor BHB-1893 in obstructive hypertrophic cardiomyopathy, and $100M for the non-obstructive form, positioning it against BMS’s Camzyos and Cytokinetics’ Myqorzo.
Attovia Therapeutics (SF) Targets $182M IPO to Advance Dupixent Rival
Attovia set a $15-17 share price range for 12.5M shares, expecting about $182.4M in net proceeds at the midpoint, funding operations into 2029. Proceeds fund Phase 2 development of IL-31 inhibitor ATTO-1310 (a potential Dupixent/Nemluvio rival) in two indications, plus a Phase 2 eczema trial for ATTO-2306.
BlossomHill Therapeutics (SD) Sets Terms for $112M IPO to Fund Tagrisso Challenger
BlossomHill plans to offer 7.8M shares at $15-17, expecting to raise $111.7M at the midpoint (up to $129.1M with the underwriter option). $70M is earmarked for BH-30643, an EGFR-targeting molecule aimed at patients resistant to AstraZeneca’s Tagrisso, with the rest funding a CDC-like kinase inhibitor and a pan-KRAS program.
Other Interesting News:
Chasing Vertex, Latigo (LA) Reports Non-Opioid Pain Drug Succeeds in Key Trial
Latigo’s non-opioid Nav1.8 inhibitor LTG-001 reduced acute pain in a Phase 2b study, positioning it to compete with Vertex’s approved Journavx. The company plans to move into Phase 3 in late 2026, sharpening its case as it heads toward the Nasdaq (see prior briefings for its IPO filing).
Hackers Steal Patient Data in Amgen (LA) Cloud Breach
Amgen disclosed Friday that hackers stole company and patient data, with the company noticing ‘unauthorized activity’ on data stored on third-party-hosted cloud platforms in July. The company hasn’t yet disclosed the scope of affected records or notification timeline.
