Recent Funding:
MapLight Therapeutics (SF) Secures $372.5M Series D to Advance CNS Drug Trials
MapLight secured one of 2025’s largest biotech raises to advance ML-007C-MA, its Phase 2 oral therapy for schizophrenia and Alzheimer’s psychosis, amid heightened industry interest in M1/M4-targeting drugs. The round was co-led by Forbion and Goldman Sachs, with backing from Sanofi, Novo, 5AM, T. Rowe Price, and others.
TCG Labs Soleil (SF) Doubles Fund to $800M and Expands to China
The venture firm behind single-asset biotechs has raised another $400M to support preclinical-to-Phase 2 programs, now totaling $800M. TCG Labs Soleil has launched over 10 startups and opened a Shanghai office to strengthen R&D efficiency and cross-border biotech dealmaking.
Dispatch Bio (SF/Philly) Raises $216M to Redefine CAR-T for Solid Tumors
Backed by PICI, ARCH Venture Partners, Bristol Myers Squibb, Alexandria Venture Investments, Stanford, and UPenn, Dispatch Bio aims to tackle solid tumors with a novel two-step approach combining an oncotropic virus and autologous CAR-T therapy. The company’s “Flare” platform aims to help the immune system distinguish and eliminate cancer cells while reshaping the tumor microenvironment to improve treatment response. Co-founded by CAR-T pioneers Carl June, Chris Garcia, Andy Minn and Kole Roybal, the company plans to enter the clinic in 2026 with a “universal” solid tumor treatment that alters the tumor microenvironment to improve immune response.
Recent Layoffs:
Genentech (SF) Conducts Fourth Layoff Round in 15 Months
Genentech is laying off 87 employees across multiple departments, effective Sept. 15, per a WARN notice. This marks over 700 jobs cut since early 2024, amid strategic restructuring efforts to focus on high-potential assets. Despite the cuts, Roche says 2,000 roles remain open and expects overall workforce stability through 2025.
Adicet Bio (SF) Lays Off 30% of Staff, Refocuses Pipeline on Autoimmune Diseases
Adicet is cutting 30% of its workforce and discontinuing its clinical-stage cancer therapy ADI-270, despite early positive signs in a Phase 1 renal cancer trial. The company is shifting focus to autoimmune conditions, prioritizing its CAR-T program AD1-001 (in lupus nephritis and systemic sclerosis) to extend cash runway into late 2026.
M&A, Deals, Partnerships:
Arrowhead Pharmaceuticals (LA) Earns $100M Milestone from Sarepta for RNAi Therapy Trial
Arrowhead hit a major milestone in its Phase 1/2 trial for ARO-DM1, an RNA-based therapy for myotonic dystrophy, unlocking a $100M payment from Sarepta. The broader partnership could net Arrowhead over $1.5 billion in milestones and royalties across multiple RNAi programs for rare muscle, CNS, and lung diseases.
Gate Bioscience (SF) Signs $856M Deal with Eli Lilly to Advance ‘Molecular Gate’ Drugs
Gate Bioscience inked a partnership with Eli Lilly to develop small molecules that eliminate disease-causing extracellular proteins, with deal terms including milestones, royalties, and an equity stake. Gate’s discovery platform aims to address tough-to-drug targets, with support from Lilly’s Catalyze360 initiative; this marks Gate’s first major collaboration.
Other Interesting News:
FDA Opens Fast-Track Program for National Health Priority Drugs
The new Commissioner’s National Priority Voucher (CNPV) pilot will fast-track reviews of select drugs to as little as 30–60 days if they align with U.S. health priorities like affordability, rare diseases, chronic conditions, or domestic manufacturing. Up to five companies will be selected in the first year, with applicants required to submit a short statement on how their drug meets national priority criteria.
BBOT (SF) Appoints Uneek Mehra as CFO to Drive Growth in Oncology
Clinical-stage biotech BBOT, focused on RAS-pathway cancers, has appointed Uneek Mehra as CFO. Mehra brings deep experience from 4DMT, Myovant, and Novartis, where he led major financings and strategic deals.
ImageneBio (SD & Boston) Appoints Kristin Yarema as CEO Following Ikena-Inmagene Merger
Kristin Yarema, Ph.D., former CEO of Poseida (acquired by Roche), will lead ImageneBio as it advances its anti-OX40 candidate for autoimmune and inflammatory diseases. The Ikena-Inmagene merger is set to close by end of July 2025, with $75M in private funding and Nasdaq listing under “IMA”.
Abzena (SD) Names New CEO to Lead Growth in Biologics and Bioconjugates
Geoffrey M. Glass, formerly Chairman of the Board, steps in as CEO to lead Abzena, a leading CDMO and CRO for complex biologics. Glass brings 30 years of experience and will focus on expanding global capabilities and deepening biopharma partnerships.
Quanta Therapeutics (SF) Expands Leadership and Advances KRAS Program
Quanta named Vanessa Jacoby as CFO/CBO amid progress in its Phase 1 trial for QTX3034, a KRASG12D-targeting oral therapy. Early trial data shows promising safety and efficacy; dose expansion cohorts now enrolling for both monotherapy and combo with cetuximab.
Recognify Life Sciences (SF) Reports Phase 2b Miss for Schizophrenia Drug Inidascamine
Inidascamine failed to significantly improve cognition in a Phase 2b trial for schizophrenia-related impairment; Atai has deprioritized the asset. Despite not meeting the primary endpoint, the drug showed mild cognitive benefit and a strong safety profile, with no major side effects reported.
US-EU Trade Deal to Impose 15% Tariff on European Pharma Imports
A new trade agreement will impose a 15% tariff on pharmaceutical products imported from the EU, impacting U.S. drugmakers—especially those sourcing from Ireland, which supplied $50B in 2024. Analysts say branded drugmakers may weather the tariffs, but generics could suffer due to lower margins; the deal helps avoid even steeper tariffs previously threatened.
