Recent Funding:
Moonwalk Biosciences (SF) Raises $70M Series B to Test siRNA Obesity Treatment
The genomic biotech closed a $70 million Series B co-led by Alpha Wave and YK Bioventures, with Eli Lilly, Gaorong Ventures, ARCH Venture Partners, Khosla Ventures and Future Ventures participating. Proceeds will move lead obesity candidate MW101 — an adipose-targeted RNAi therapy that modulates non-incretin pathways directly in fat tissue while preserving muscle — into first-in-human studies in late 2027.
BrainChild Bio (SEA) Gets $116M for Pivotal Trial of Pediatric Brain Tumor CAR-T
The Seattle Children’s Hospital spinout raised a $116 million Series A — backed by an undisclosed family fund and foundation, Seattle Children’s and WRF Capital — to complete a pivotal Phase 2 trial of lead CAR-T candidate BCB-276 in the childhood brainstem cancer DIPG. The company aims to develop the first DIPG-specific therapy and plans to launch a Phase 1 trial in glioblastoma, a much larger indication, next year.
ARCH Venture Partners (SF) Targets $3 Billion Raise for Latest Fund
ARCH — one of the most active early-stage backers of West Coast biotech — is targeting roughly $3 billion for its newest fund, among the largest in its history, signaling continued firepower for regional startup formation. BD relevance: a fresh ARCH fund typically seeds and scales a new wave of West Coast companies that will be building out leadership teams over the next 12–24 months.
Recent Layoffs:
ArsenalBio (SF) Sheds Most of Its Staff in Pivot to In Vivo CAR-T
The cell therapy company is cutting 99 employees — the majority of staff across all teams and functions — and halting development of its ex vivo clinical assets as it pivots entirely to an in vivo CAR-T strategy. A core team remains to advance the new approach while the company explores strategic alternatives for its assets and technologies.
IPOs:
ADARx Pharmaceuticals (SD) Aims for IPO With Three Drugs in the Clinic
The AbbVie-backed, clinical-stage siRNA developer filed for a Nasdaq IPO under the ticker ADRX, seeking roughly $100 million to advance three clinical candidates targeting complement-mediated disease, hereditary angioedema and thrombotic disease. AbbVie previously paid $335 million upfront for options on ADARx’s next-generation siRNA therapeutics, underscoring big-pharma conviction heading into the offering.
FDA Approvals:
Ionis (SD) Wins FDA Clearance for Alexander Disease Drug – Its First Solo Neurology Approval
The FDA approved ZANVASTRO (zilganersen), an intrathecally dosed antisense medicine, as the first and only disease-modifying treatment for Alexander disease — a rare, progressive and often fatal neurological disorder — in pediatric and adult patients. Approval arrived nearly three weeks ahead of the September 22 PDUFA date; the pivotal trial showed treated patients’ walking speed held stable while controls declined 33%.
Other Interesting News:
The Phase 3 DeLLphi-305 study met its primary overall-survival endpoint at a pre-specified interim analysis, showing a statistically significant and clinically meaningful survival benefit for IMDELLTRA (tarlatamab, a DLL3 BiTE) plus AstraZeneca’s IMFINZI (durvalumab) versus durvalumab alone as first-line maintenance in extensive-stage SCLC; PFS and ORR secondary endpoints were also met. It is the first Phase 3 to show a BiTE therapy extending overall survival in the first-line maintenance setting for a notoriously aggressive cancer; no new safety signals emerged, and Amgen will present detailed data at an upcoming congress.
Inhibrx Biosciences (SD) OX40 Agonist Plus Keytruda Tops Monotherapy in Phase 2 Head & Neck Cancer
In the randomized Phase 2 HexAgon study, INBRX-106 (a hexavalent OX40 agonist) plus pembrolizumab delivered a 44% objective response rate versus 21.4% for Keytruda alone in first-line, PD-L1-high metastatic HNSCC. The combination reached an interim median progression-free survival of 9.6 months, strengthening the company’s case for an accelerated-approval path.
Structure Therapeutics (SF) Reports Positive Data Across Oral GLP-1 and Amylin Weight-Loss Programs
Lead oral small-molecule GLP-1 agonist aleniglipron delivered up to 16.2% mean body-weight reduction at 72 weeks with no plateau and improved tolerability, reinforcing the ongoing Phase 3 ACCOMPLISH program. Amylin agonist ACCG-2671 showed a ~6-day half-life, no serious adverse events and up to 3.3% weight loss in an early Phase 1/2a study, with additional data expected in Q4 2026.
Revolution Medicines (SF) Publishes Daraxonrasib Lung Cancer Data in NEJM
The New England Journal of Medicine published Phase 1/2 results for RASONQUE (daraxonrasib), an oral RAS(ON) multi-selective inhibitor, showing tumor shrinkage and clinical improvement in about 30% of previously treated RAS-mutant non-small cell lung cancer patients. The FDA has granted daraxonrasib Breakthrough Therapy Designation in this setting, reinforcing the ongoing Phase 3 RASolve 301 registrational program.
Ultragenyx (SF) Fails Phase 3 Angelman Syndrome Test, Plots Significant Expense Reductions
The Phase 3 Aspire study of antisense candidate apazunersen (GTX-102) missed both its primary cognitive endpoint and key secondary endpoint in Angelman syndrome, sending shares down more than 40%. Ultragenyx will decide the program’s fate and is pursuing significant expense reductions as it refocuses on approved products and a push toward profitability in 2027.
Alumis (SF) Falls After TYK2 Pill Fails Lupus Study, but CEO Sees a ‘Clear Path Forward’
Alumis’s envudeucitinib missed primary and key secondary endpoints in the 48-week Phase 2b LUMUS trial in moderate-to-severe systemic lupus, sending shares down more than 50%. A prespecified subgroup with a high interferon gene signature responded strongly, and the company plans a biomarker-driven Phase 3 while still targeting a 2026 U.S. filing in plaque psoriasis.
Anthropic (SF) Expands Its Biopharma Plans, Hiring a Life-Sciences Dealmaker
The San Francisco AI company posted a corporate-development role focused on life-sciences dealmaking — paying up to $600,000 — confirming ambitions to pursue biotech partnerships and acquisitions as its own IPO plans take shape. Market context (not a therapeutics story): a signal that well-capitalized AI players are moving into biopharma deal territory, worth watching for how it reshapes the West Coast partnering and M&A landscape.
