Recent Funding:
Varda (LA) Gets $251M to Make Medicines in Space, a Long-Sought Area for Drugs
Varda Space Industries raised a $251M Series D (led by Lux Capital and Natural Capital, at a $1.6B valuation), lifting total funding to about $598M to scale its orbital drug-manufacturing missions. The company uses microgravity to explore drug formulations that are hard or impossible to make on Earth; it has flown six re-entry missions with manufacturing capsules and plans more than a dozen more by the end of 2028.
Recent Layoffs:
BioMarin (SF) Lays Off 117 California Workers to Consolidate Footprint
A WARN notice shows BioMarin will permanently cut 117 jobs at its Novato manufacturing site effective December 4, 2026, as it consolidates its Galli Drive API operations into “a smaller, more focused site.” Novato stays the company’s primary drug-substance site for Aldurazyme and Naglazyme, while activity tied to other products will be transferred, divested or decommissioned.
M&A, Deals, Partnerships:
Roche Enlists Alector (SF) in Parkinson’s Deal, Paying $100M Upfront
Genentech (Roche) licensed AL050, a brain-penetrant GCase enzyme replacement therapy for Parkinson’s, paying $100M upfront and up to $1.17B in milestones plus royalties; shares spiked on the news. Alector keeps its Alector Brain Carrier blood-brain-barrier delivery platform, leaving it free to apply the technology across its own pipeline.
Lilly Doubles Down on Gate Bioscience (SF) Alliance in Deal Worth $870M+
Eli Lilly expanded its 2025 collaboration with Gate Bioscience to target difficult-to-drug proteins, adding a new drug target (with an option for a second) and pushing total potential value past $870M. Gate leads discovery of oral small-molecule “molecular gates,” while Lilly handles late-stage development, manufacturing and commercialization and holds exclusive worldwide rights.
Other Interesting News:
Vaxcyte’s (SF) Pneumococcal Vaccine Succeeds in Phase 3, Stock Surges
VAX-31 met all co-primary endpoints in the pivotal adult OPUS-1 trial: all 28 serotypes shared with Prevnar 20/Capvaxive hit noninferiority, and the three unique serotypes plus 20B cleared superiority, sending shares up sharply (30–50% intraday). Vaxcyte expects OPUS-2 and OPUS-3 adult readouts in the first half of 2027, supporting a planned BLA submission in 2028 in its challenge to Pfizer and Merck.
Nektar (SF) Presents Long-Term Alopecia Data on Rezpegaldesleukin
Updated REZOLVE-AA data showed 63% of severe alopecia areata patients maintained a SALT score of 20 or below six months off treatment, and the proportion reaching SALT ≤10 grew from 7% at Week 52 to 19% off treatment. Investors focused on the drop in sustained response after stopping treatment, sending shares down about 21%; a Phase 3 ZENITH-AA study is slated to start in early 2027.
Epicrispr (SF) Builds Case for Epigenetic Muscle Disease Treatment With Updated Data
Six-month Phase 1/2 data for epigenetic editor EPI-321 in FSHD showed a 3.0% upper-body lean-muscle gain versus a predicted 3.5% decline in matched digital twins, plus a 4.1% improvement in upper-body muscle strength. The DUX4-silencing therapy’s data, presented at the World Muscle Society congress, came alongside one case of severe liver enzyme elevation.
Amgen (LA) Reveals 6-Point Drop in Lupus Severity Behind Phase 2 Win for Horizon Antibody
Daxdilimab, a monoclonal antibody Amgen gained in its Horizon Therapeutics buyout, cut disease severity by 6 points versus placebo at the low dose in a 72-patient Phase 2 discoid lupus study — about a 50% reduction in lupus area and severity. The result moves the antibody toward Phase 3 in discoid lupus, a bright spot for Amgen even as a separate gastric cancer candidate struggled.
Connect’s (SD) Dupixent Rival Reduces COPD Attacks by 85%, but Misses a Secondary Goal
In the 159-patient Seabreeze STAT Phase 2 study, rademikibart added to standard of care cut new moderate-to-severe COPD exacerbations by 85% and eliminated COPD-related hospitalizations and ER visits entirely over the period. The IL-4Rα antibody missed a secondary lung-function (FEV1) endpoint at day 7, but the exacerbation data sent Connect’s shares higher.
Buzzy AI Biotech Xaira (SF) Reveals Antibody Platform and First Taste of Pipeline
Two years after launching with $1B, Xaira unveiled X-Design, its generative-AI platform for designing “drug-ready” antibodies, plus its first two disclosed candidates: XA-1, a cancer antibody built from scratch in seven weeks, and XA-4, aimed at a previously intractable GPCR. Led by ex-Genentech CSO Marc Tessier-Lavigne and Nobel laureate David Baker, the company plans to push both into human studies and is in talks to partner its platform with larger drugmakers.
