Recent Funding:
Raised a $120M Series C led by RA Capital Management (with Qiming, HanKang, YuanBio, CDH and others) to push lead antisense oligonucleotide AHB-137 through Phase 3 and toward commercialization. AHB-137 is an unconjugated ASO designed to suppress hepatitis B viral protein, inhibit viral DNA replication and drive immune reactivation; it holds FDA Breakthrough Therapy designation and is in late-stage testing in China.
M&A, Deals, Partnerships:
Genentech (SF) Bets Up to $1B+ on DualityBio’s DUPAC ADC Payload Platform to Beat Payload Resistance
Signed a global collaboration and license agreement worth $45M upfront plus more than $1B in potential milestones and tiered royalties for DualityBio’s next-generation antibody-drug-conjugate payload technology. The DUPAC payloads are engineered to stay active against tumors resistant to topoisomerase-inhibitor ADCs; DualityBio leads discovery through Phase Ia, then Genentech takes over global development and commercialization.
IPOs:
Electra Therapeutics (SF) Files for Nasdaq IPO to Fund SIRP-Targeted Immunology and Cancer Pipeline
The Sanofi-backed, clinical-stage antibody developer filed its S-1 to raise up to roughly $100M, planning to list on Nasdaq under the ticker ETRA. Lead candidate ipsoprubart, a pan-SIRP monoclonal antibody, is in the registrational Phase 2/3 SURPASS trial for secondary HLH; second antibody ELA822 began a Phase 1 study in Europe this month.
FDA Approvals:
Won approval for RASONQUE (daraxonrasib), the first broad RAS(ON)-targeted medicine, in previously treated metastatic pancreatic adenocarcinoma — a landmark in one of oncology’s hardest indications. In the pivotal study, median overall survival reached 13.2 months versus 6.7 months on standard chemotherapy.
FDA Approves Gilead’s (SF) Bixlenvo, the Smallest Once-Daily Single-Tablet HIV Regimen
Bixlenvo (bictegravir/lenacapavir) was approved as a once-daily single-tablet option for virologically suppressed adults with HIV, including those on complex regimens. Approval was based on the Phase 3 ARTISTRY-1 and ARTISTRY-2 trials and further extends the company’s fast-growing lenacapavir franchise.
MIMRYLO (rusfertide), a first-in-class hepcidin mimetic peptide discovered by Protagonist, became the first approved therapy for erythrocytosis in adults with the rare blood disorder polycythemia vera. The approval triggers $275M in payments to Protagonist (a $200M opt-out fee plus a $75M milestone); Takeda leads commercialization after Protagonist’s opt-out.
Other Interesting News:
Arrowhead (LA) Claims Safety Edge Over Ionis as Triglyceride Rivalry Heats Up at ESC 2026
Presented long-term Phase 3 plozasiran data (SHASTA-3 and SHASTA-4) showing median triglyceride reductions of roughly 79–81% at one year in severe hypertriglyceridemia, with a placebo-comparable safety profile. The read-out sets up a California-vs-California showdown against Ionis (Carlsbad) and its rival oligonucleotide in the hypertriglyceridemia market.
Ended the Phase 2 BNT122-01 trial of personalized mRNA vaccine autogene cevumeran in resected colorectal cancer after a Data Safety Monitoring Board flagged a numerical overall-survival imbalance. No new safety signals were identified, and development of the vaccine in pancreatic cancer continues.
Data in Hand, Cytokinetics (SF) Moves to Expand Myqorzo (aficamten) Into Non-Obstructive HCM
Following positive topline ACACIA-HCM Phase 3 results, the company plans a Q4 2026 supplemental filing to expand Myqorzo (aficamten) into non-obstructive hypertrophic cardiomyopathy. Commercial momentum is building alongside new European reimbursement wins and NICE backing for the drug in obstructive HCM.
After ‘Tough Years,’ Frontier Medicines (SF) Ramps Up Its Precision-Medicine Ambitions
The CEO laid out plans to advance more cancer drugs into the clinic and pursue new partners for its AI-driven covalent/chemoproteomics platform after a difficult stretch that included layoffs last year. Marks a turnaround push for the ‘undruggable’ target specialist, including its KRAS G12C program.
Vivace Therapeutics (SF) Names New CEO Ahead of Pivotal Phase 3 Push
The TEAD-inhibitor developer appointed Craig Gibbs, Ph.D., as president and CEO to lead its lead small-molecule cancer program into pivotal testing. The leadership refresh signals the company is gearing up for a late-stage clinical and potential commercial transition.
